J-K admin increases NPS contribution of employees to 14 percent

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Jammu, May 20 (PTI) The Jammu and Kashmir administration on Thursday enhanced the National Pension System (NPS) contribution of non-pension employees to 14 percent, an official order said.

Meeting the demand of its employees working under the National Pension System (NPS), the administration today issued orders for enhancement of its monthly contribution to 14 percent from the month of April, 2020, an order issued by the Department of Finance said.

This will benefit over 35,000 employees working under the NPS, it added.

'The government shall make fourteen percent of matching contribution with effect from 01.04.2020,” the order read.

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

The administration was making a monthly contribution equivalent to 10 percent of basic pay and dearness allowance of each employee, which has now been increased to 14 percent w.e.f April, 2020, taking its employees at par with those employed by the central government, the order said. PTI AB AQS AQS

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