NPS performed better that GPF in the last year.

   The three NPS managers handling the pension funds of Central and state government employees have delivered average returns of 9.33% in the past one year, outperforming the state-run government provident fund (GPF), employees provident fund (EPF) and the public provident fund (PPF). The three-year annualised returns are also quite decent at 8.47%, though not as spectacular as in the past one year.

   More than 16 lakh central and state government employees have almost Rs 8,500 crore invested in the NPS. This money is managed by three pension fund managers - SBI Pension Funds, LIC Pension Fund and UTI Retirement Solutions. Each of the three funds manages roughly one-third of the NPS corpus.

   Though three years is a very short time to judge long-term instruments such as pension funds, the impressive performance is likely to silence the criticism that NPS is not allocating enough to growth assets. Central and state government NPS funds can invest a maximum of 15% in equities. Even in NPS for the general public, where investors can choose their own asset allocation, a maximum of 50% can be put in equities.

Out of turn promotion for sportspersons.

F.No.14034/1/ 2012-Estt. (D)
Government of India
Ministry of Personnel, Public Grievances and Pensions
(Department of Personnel & Training)

North Block, New Delhi
Dated the 26th July, 2012.

 
OFFICE MEMORANDUM

Subject: Out of turn promotion for sportspersons.

   The undersigned is directed to say that the scheme for appointment  of meritorious sports persons under Government is contained in this  Department O.M. No. 14015/ 1/78-Estt. (D) dated the 4th August, 1980 as amended from time to time. This Department has been receiving requests  for grant of out of turn promotion to sportspersons employed under various Ministries/Departments. The demand for grant of out of turn promotion for excellence in sports events has been considered by the Government and it has been decided to allow a maximum of three out of turn promotions to a sportsperson/ Coach for excellence in sports events as per provisions of the enclosed scheme.

Review of three years time limit for making compassionate appointment.

F.No.14014/3/2011-Estt. (D)
Government of India
Ministry of Personnel, Public Grievances and Pensions
(Department of Personnel & Training)

North Block, New Delhi
Dated the 26th July, 2012.

OFFICE MEMORANDUM

Subject:- Review of three years time limit for making compassionate appointment.

   The primary objective of scheme for compassionate appointment circulated vide O.M. No. 14014/6/94-Estt(D) dated 09.10.1998 is to provide immediate assistance to relieve the dependent family of the deceased or medically retired Government servant from financial destitution i.e. penurious condition. The Hon’ble Supreme Court in its judgment dated 05.04.2011 in Civil Appeal No. 2206 of 2006 filed by Local Administration Department vs. M. Selvanayagam @ Kumaravelu has observed that “an appointment made many years after the death of the employee or without due consideration of the financial resources available to his/her dependents and the financial deprivation caused to the dependents as a result of his death, simply because the claimant happened to be one of the dependents of the deceased employee would be directly in conflict with Articles 14 & 16 of the Constitution and hence, quite bad and illegal. In dealing with cases of compassionate appointment, it is imperative to keep this vital aspect in mind”.