Contributory pension scheme
Contributory Pension Scheme (CPS)
Detail Information: CPS AND PRAN
Introduction
Under G.O.Ms.No.653 Finance, the State Government introduced CPS for employees recruited on or after 01.09.2004. Each employee pays a monthly contribution of 10% of basic pay and DA.
Investment Distribution
SBI Pension Fund
40%
40%
LIC Pension Fund
31%
31%
UTI Retirement
29%
29%
Final Payment Procedure
At retirement, 40% of pension wealth must be used for an annuity (monthly pension), and the remaining 60% is paid as a lump sum.
Registration & Contacts
NSDL Head Office: 1st Floor, Times Tower, Kamala Mills Compound, Lower Parel, Mumbai.
Toll Free: 1800222080
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