Cabinet introduces New Pension Scheme for employees of Navodaya Vidyalaya Samiti

New Delhi, July 31 (ANI): The Union Cabinet today gave its approval for the introduction of a New Pension Scheme of the Government of India to the employees of the Navodaya Vidyalaya Samiti (NVS).

The scheme is admissible to all new recruits, as well as the existing employees of the NVS.

All regular NVS employees joining NVS after the date of notification are eligible for the New Pension Scheme. For those who are regular employees of NVS, they have the option to continue with the existing Central Provident Fund (CPF) scheme or to join the New Pension Scheme.

In the latter case, the amount accumulated in CPF account of the employee will be transferred to the pension fund under the New Pension Scheme. (ANI)