India. Demise of govt employees covered under NPS
Central Government employees covered under National Pension System have been given the option under rule 10 of CCS (Implementation of NPS) Rules, 2021, to choose benefits either from old pension schemes or accumulated pension corpus under NPS in the event of their death. The family of a deceased government employee cannot exercise this option.
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In case, the employees could not furnish the option in this regard, there is a default option of benefit under the old pension scheme for the first 15 years of service and thereafter, the default option would be the benefits under NPS. At present, the default option of the old pension scheme is valid till March 2024 in accordance with these rules even if the government employee has completed 15 years of service.
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Following benefits are available in the event of in-service death of a Central Government Employee covered under NPS:
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- Family pension under CCS (Pension) Rules, 1972, as per option exercised by a government servant or default
- option or in case, government servant has opted for benefits under NPS, the family would get benefits from his
- accumulated pension wealth under NPS.
- Death gratuity
- Leave encashment
- Benefits from CGEGIS
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