Govt enhances NPS contribution of employees to 14%

Govt enhances NPS contribution of employees to 14%
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Meeting the demand of its employees working under National Pension System (NPS), the government today issued orders for enhancement of its monthly contribution to 14% from the month of April, 2020.

An S.O. to this effect was issued by the Department of Finance today mentioning that the Government shall make 14% of matching contribution w.e.f. 01.04.2020.

The move is going to benefit thousands of employees appointed by the government after 2010 who are being governed under this system.

Pertinent to mention here that the government was making a monthly contribution equivalent to 10% of Basic pay and Dearness allowance of each employee which has now been increased to 14% w.e.f April, 2020 taking its employees at par with those employed by central government.

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