NPS : Management Share (MS) increase from 10% to 14 %

Management Share (MS) increase from 10% to 14 % in New Pension System (NPS)

Kendriya Vidyalya Sangathan issued a letter regarding increase Management Share (MS) in New Pension System (NPS) from 10% to 14 % to all KVS Employee April 2019 and Add MS Share in the pay-bill of October 2021.

Kendriya Vidyalya Sangathan issued a letter with Subject of Extension of Notification dated 31.01.2019 of Department of Financial Services, MoF regarding extension of enhanced management contribution (10% to 14%) to the employees of Central Autonomous Bodies covered under NPS vide letter no. 110126125/2021/KVS-NPS/Circulars/ dated : 28-09-2021.

In this letter it is stated that the issue of extension of enhanced employer's share (10% to 14%) of NPS contribution to the employees of Central Autonomous Bodies was under consideration in Ministry. Now, Department of School Education & Literacy (IF-II Section), Ministry of Education, vide its Office Memorandum No. G-21015/15/2021-IF-Il dated 09.09.2021 has intimated that Department of Expenditure, Ministry of Finance, vide its O.M No. 1(3)EV/2020 dated 26' August 2021, has extended the provisions of notification dated 31.01.2019 to the employees of Central Autonomous Bodies with effect from 01.04.2019 as applicable in case of Govt. employees. Accordingly, the provisions of aforesaid notification dated 31.01.2019 are hereby notified in KVS with effect from 01.04.2019.

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Some More Facts regarding NPS : -

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