AMC emerge as first civic body to introduce NPS in state

Aurangabad, Aug 9:

The employees joining the government service after 2005 were deprived of a pension scheme. Considering this the union Government has introduced National Pension Scheme (NPS) recently. Hence the Aurangabad Municipal Corporation (AMC) emerged as the first local self-body in the state to implement the NPS. The AMC administrator A K Pandey played a vital role in implementing the new pension scheme.

The NPS will be benefitting 1200 civic personnel from Class II to IV. Under the scheme, the AMC will deduct a 10 per cent share from his salary, while the AMC will contribute a share of 14 per cent, every month. The scheme has been implemented from November 1, 2005, therefore, the employees will have to deposit instalments of 16 years. Meanwhile, the AMC is planning to deduct the instalment of last month and the current month under NPS. The AMC and the office of

Employees Provident Fund has signed an agreement in this regard. Meanwhile, the smiles prevailed on the faces of the employees as they will get a good amount after their retirement. The beneficiaries will be getting a PAN Card which will have specific info of the employee. The deputy engineer (Town Planning) Sanjay Kombde proved to be the first to get the PAN Card in the AMC.

The chief accounts officers Devidas Hiwale and Sanjay Pawar also played a vital role. The pension scheme will be benefitting the legal heirs as well as the nominees mentioned in the pension application.