Introduction of Pension Scheme for employees of Navodaya Vidyalaya Samiti (NVS)

The Union Cabinet today gave its approval for introduction of the New Pension Scheme of Government of India to all regular NVS employees joining NVS after the date of notification and also gave its approval for giving an option to the regular employees of NVS as on the date of notification of New Pension Scheme to continue with the existing CPF Scheme or to join the New Pension Scheme. In the latter case, the amount accumulated in CPF account of the employee will be transferred to the Pension fund under the New Pension Scheme. The service of all new NVS employees will become pensionable. The existing employees will have the option to switch over to the new Pension scheme.

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