AMC in touch with NSDL for contributory pension scheme

Aurangabad, Nov 15:

The work of implementing Defined Contribution Pension Scheme (DCPS) for the municipal officers and employees who joined the service after 2005 has gained momentum. The municipal corporation has approached the National Security Depository Limited (NSDL) in Pune, for the implementation of the scheme.

The state government has introduced DCPS for government employees after November 1, 2005. The amount is deducted from the salaries of the employees for this scheme and get the benefit when they retire. Hingoli Zilla Parishad (ZP) has formulated a model for implementation of DCPS. Dr Devidas Hiwale who implemented this model, has been appointed as the chief auditor of municipal corporation. The government has entered into an agreement with NSDL for the pension scheme. The Aurangabad municipal corporation is the first municipal corporation in the state to contact this organization. Guidance will be taken from the organization to fill the salary sheets of regular and other employees. NSDL chief Deepak Marathe will help the corporation to overcome the difficulties in implementing the scheme, said Dr Hiwale.