Bhubaneswar: The State Cabinet, chaired by Chief Minister Naveen Patnaik, today approved a proposal to enhance contribution of the State Government towards the National Pension System (NPS) from 10% to 14%.
This will be effective from April 1, 2019.
The move will benefit over 2.08 lakh employees.
Employees, covered under NPS, are also allowed to exercise an option to receive family pension in the event of in-service death under OCS Pension Rule, 1992.
The above benefits are also applicable to eligible employees of Aided Educational Institutions, Group-B contractual employees appointed vide Odisha Group ‘B’ posts (Contractual Appointment) Rules, 2013 and Group ‘C’ and ‘D’ contractual employees appointed vide Odisha Group ‘C’ and ‘D’ posts (contractual appointment) Rules, 2013.