-2-
ANNEXURE
SALIENT
FEATURES OF THE SERVICE
DISCHARGE BENEFIT SCHEME
(SDBS)
|
1.
ELIGIBILITY TO JOIN THE SDB SCHEME |
All regularly appointed Gramin Dak Sevaks,
who have been selected after due process in accordance with their Service
& Employment Rules and after rendering one year’s satisfactory service,
are eligible to join the scheme. The existing Gramin Dak Sevaks who
are due to discharge within 3 years or less service as on |
|
2.
OPTION FOR THE EXISTING INCUMBENTS |
(i) The existing regularly appointed
Gramin Dak Sevaks on the date of notification of the Service Discharge
Benefit Scheme(SDBS), shall have an option either to
switch over to the new Service Discharge Benefit Scheme(SDBS) or to continue
under the existing Severance Amount scheme.. |
|
3.
NEW ENTRANTS |
The new Gramin Dak Sevaks, appointed on or
after the date of introduction of the Service Discharge Benefit Scheme
(SDBS), shall mandatorily have to get themselves enrolled under the new
Scheme (SDBS). They will not be entitled to receive
the benefit of
Severance Amount. |
|
4.
CONTRIBUTION |
(i) Only the Government shall contribute @ Rs.200 per month for each
enrolled Gramin Dak Sevak. The Gramin Dak Sevaks shall not be required to
make any contribution from their side under the scheme. The contributions
made by the Department shall be credited to the Trustee Bank designated by
the Pension Fund
Regulatory & Development Authority (PFRDA) and invested through
Pension Fund Managers (PFMs) designated by the Pension Fund Regulatory
& Development Authority (PFRDA). |
|
5.
NODAL AGENCY |
The Pension Fund Regulatory & Development Authority (PFRDA) is the
Nodal Agency and Central Record Keeping Agency (CRA) appointed by the PFRDA
will maintain the data/records as well as upload/transmit the data to the
Trustee Bank and also advise the Trustee Bank to transfer the funds to the
relevant Pension Fund Manager (PFM) for investment purposes. |
|
6.
EXIT FROM THE SERVICE DISCHARGE BENEFIT SCHEME(SDBS) |
(i) A Gramin Dak Sevak, if he so wishes to
exit at any point of time after attaining the age of 58 years, he can withdraw 20 % of
the accumulations and has to invest
the 80% of accumulations for purchase of life
Annuity from any Life Insurance Company authorised by
Insurance Regulatory & Development Authority (IRDA) The Department
will not make further
contributions once he
exits. (ii) At the time of
discharge from service
after attaining the age of 65 years, the Gramin Dak Sevak would be
required to invest a minimum of 40% of accumulations to purchase a Life
Annuity from any authorised Life Insurance Company duly approved by the
Insurance Regulatory & Development Authority (IRDA). The remaining amount
i.e. 60% of the accumulations can be withdrawn. (iii) However, there shall be no
restriction on purchase of Life Annuity exceeding 40% of their accumulations
in the fund. In other words, the GDS, discharged on completion of his
services may invest in the life annuity even more than the minimum required
40%, if he/she so desires. |
******
-2-
ANNEXURE
SALIENT
FEATURES OF THE SERVICE
DISCHARGE BENEFIT SCHEME
(SDBS)
|
1.
ELIGIBILITY TO JOIN THE SDB SCHEME |
All regularly appointed Gramin Dak Sevaks,
who have been selected after due process in accordance with their Service
& Employment Rules and after rendering one year’s satisfactory service,
are eligible to join the scheme. The existing Gramin Dak Sevaks who
are due to discharge within 3 years or less service as on |
|
2.
OPTION FOR THE EXISTING INCUMBENTS |
(i) The existing regularly appointed
Gramin Dak Sevaks on the date of notification of the Service Discharge
Benefit Scheme(SDBS), shall have an option either to
switch over to the new Service Discharge Benefit Scheme(SDBS) or to continue
under the existing Severance Amount scheme.. |
|
3.
NEW ENTRANTS |
The new Gramin Dak Sevaks, appointed on or
after the date of introduction of the Service Discharge Benefit Scheme
(SDBS), shall mandatorily have to get themselves enrolled under the new
Scheme (SDBS). They will not be entitled to receive
the benefit of
Severance Amount. |
|
4.
CONTRIBUTION |
(i) Only the Government shall contribute @ Rs.200 per month for each
enrolled Gramin Dak Sevak. The Gramin Dak Sevaks shall not be required to
make any contribution from their side under the scheme. The contributions
made by the Department shall be credited to the Trustee Bank designated by
the Pension Fund
Regulatory & Development Authority (PFRDA) and invested through
Pension Fund Managers (PFMs) designated by the Pension Fund Regulatory
& Development Authority (PFRDA). |
|
5.
NODAL AGENCY |
The Pension Fund Regulatory & Development Authority (PFRDA) is the
Nodal Agency and Central Record Keeping Agency (CRA) appointed by the PFRDA
will maintain the data/records as well as upload/transmit the data to the
Trustee Bank and also advise the Trustee Bank to transfer the funds to the
relevant Pension Fund Manager (PFM) for investment purposes. |
|
6.
EXIT FROM THE SERVICE DISCHARGE BENEFIT SCHEME(SDBS) |
(i) A Gramin Dak Sevak, if he so wishes to
exit at any point of time after attaining the age of 58 years, he can withdraw 20 % of
the accumulations and has to invest
the 80% of accumulations for purchase of life
Annuity from any Life Insurance Company authorised by
Insurance Regulatory & Development Authority (IRDA) The Department
will not make further
contributions once he
exits. (ii) At the time of
discharge from service
after attaining the age of 65 years, the Gramin Dak Sevak would be
required to invest a minimum of 40% of accumulations to purchase a Life
Annuity from any authorised Life Insurance Company duly approved by the
Insurance Regulatory & Development Authority (IRDA). The remaining amount
i.e. 60% of the accumulations can be withdrawn. (iii) However, there shall be no
restriction on purchase of Life Annuity exceeding 40% of their accumulations
in the fund. In other words, the GDS, discharged on completion of his
services may invest in the life annuity even more than the minimum required
40%, if he/she so desires. |
******