MP pensioners are set to receive major relief. Deputy Chief Minister Jagdish Deora has announced that the government has made an important decision in the interest of employees. The missing credit amount in the NPS will now be deposited into the subscribers’ accounts. A special campaign for this will run until March 15, and departmental instructions have already been issued.

In this article, we will provide complete details regarding this important update.

The Problem of Missing Credit

The Contributory Pension Scheme (NPS) applies to government servants appointed on or after January 1, 2005. Employees’ contributions from their salaries and government contributions are deposited into their respective Permanent Retirement Account Numbers (PRAN).

The missing credit issue arises in cases where employees are on deputation, and their contributions have not been credited to their accounts.

To resolve this issue, the Directorate of Funds and Accounts has developed a facility in IFMIS. The treasury officer will fill in the contribution challan details for such government servants who are on deputation. A refund payment will then be processed, and the contributions will be deposited into their accounts.

What is a PRAN Number?

PRAN (Permanent Retirement Account Number) is a 12-digit unique identifier given to individuals enrolled in the National Pension Scheme (NPS). It is essential for managing retirement accounts, making contributions, tracking pension funds, and accessing NPS benefits. The PRAN number acts as a permanent and secure reference for all NPS transactions. It is also mandatory for certain government employees.