TAMIL NADU ELECTRICITY BOARD
TNEB now TNEB Ltd., TANGEDCO Ltd., and TANTRANSCO Ltd., Pension - Contributory Pension Scheme - Adoption of the orders issued by the Government regarding the Provision of Interest at the rate of 8% to 8.6%, 8.8% and 8.7% for the financial year 2011-2012, 2012-2013 and 2013-2014 respectively on employee’s contribution and the employer’s matching contribution under the Contributory Pension Scheme - orders - Issued.
(AUDIT BRANCH)
(PER) FB TANGEDCO PROCEEDINGS NO. 4 Dated the 6th July 2013.
Aani 22
Thiruvalluvar Aandu – 2044
READ:
1.(Per.)B.P.(Ch)No.264(SB),Dated: 03.12.2003
2.(Per.) B.P.(FB) No.6(SB), Dated: 31.01.2005
3.Memo.(Per.) No.16182/A 19/A 192/05-2, Dated: 25.10.2005
4.G.O.Ms. No.222 Finance (Pension) Department, Dated: 03.06.2008
5.(Per.) B.P. (Ch) No.66 (SB), Dated: 23.04.2010
6.(Per) FB TANGEDCO Proceedings No.10 (SB) ,Dated: 19.03.2012.
7.Secretariat Branch Memorandum (Per.) No.11054/A 18/A 183/2013-1, Dated: 26.03.2013
8.G.O. No. 38 , Finance (PGC) Department, Dated: 11.02.2013.
9.G.O.Ms.No.155,Finance(PGC)Department, Dated: 09.05.2013 and G.O.No.199, dated 13.6.2013.
10.Minutes of the TANGEDCO meeting held on 28-06-2013 (Item No.37)
PROCEEDINGS:
The TamilNadu Electricity Board (Now, TANGEDCO, TANTRANSCO and TNEB Limited) has introduced the New Contributory Pension Scheme for all the employees those who are recruited in TNEB on or after 01.04.2003 vide (Per.) B.P 1st read above on par with the orders issued by the Government of TamilNadu and further guidelines for implementation of the scheme were also issued from time to time as read above.
2. The Government orders for allowing interest at the rate of 8% per annum with effect from 01.04.2003, had also been adopted by TANGEDCO (formerly TNEB) vide 6th read above.
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3. The Government has further revised the interest rates on Contributory Pension Scheme as follows:-
G.O.Ms.No.38,
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to
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8%
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No
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Finance (PGC)
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Change
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Department, Dated:
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8.6%
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11.02.2013
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G.O.Ms. No. 155
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to
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8.8%
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Finance (PGC)
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Department, Dated:
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onwards
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8.7%
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09.05.2013.
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4. As the TANGEDCO follows the orders issued by the Government in respect of the Contributory Pension Scheme related issues, a proposal has been placed before the Board of TANGEDCO to adopt the orders of the Government 8thand 9th read above in TANGEDCO (TNEB Limited, Tamil Nadu Generation and Distribution Corporation Limited and Tamil Nadu Transmission Corporation Limited), so as to revise the rate of interest on both the Employee’s Contribution and Employer’s matching contribution at the credit of the Contributory Pension Scheme subscribers for the financial year 2011-2012, 2012- 2013 & 2013-2014. The Board has examined the said proposal in detail and decided to adopt the orders of the Government in TANGEDCO vide 10th read above.
5. Accordingly, in exercise of the powers conferred by Section 79(c) of the Electricity (Supply) Act, 1948 (Central Act 1954 of 1948), read with section 185 of the Electricity (Supply) Act, 2003 and G.O.Ms. No. 100, Energy (B2) Department, Dated: 19.10.2010, it is hereby ordered that the rate of interest on the Employee’s Contribution and Employer’s matching contribution under the Contributory Pension Scheme shall be revised for respective financial year Annual Accounts Statement and the total interest amount shall be credited into the respective employee’s accounts as detailed below:
01.04.2003 – 30.11.2011
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8%
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No change
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01.12.2011 – 31.03.2012
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8.6%
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01.04.2012 – 31.03.2013
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8.8%
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01.04.2013 onwards
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8.7%
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6. Consequent on the revised interest rates on the accumulated Contributory Pension Scheme account, the Annual Accounts Statements already issued for the years 2011-2012 and 2012-2013 need revision. Hence, all the pay drawing officers are instructed to revise the balance as on 31-03-2012 and31-03-2013 and to issue fresh Annual Accounts Statement.
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7. The above said rate of interest shall be continued until further
orders.
8. The receipt of this proceeding shall be acknowledged in the slip
enclosed.
(BY ORDER OF THE BOARD)
G.RAJAGOPAL
DIRECTOR (FINANCE)
To
All Directors/TANGEDCO , TANTRANSCO & TNEB Limited. All Chief Engineers.
The Chief Financial Controller/TANGEDCO & TANTRANSCO., The Chief Internal Audit Officer/Audit Branch.
All Superintending Engineers.
All Deputy Secretaries/Secretariat Branch.
The Residential Audit Officer/Chennai-2.
Copy to:
The Chairman-Cum-Managing Director’s Table. The Managing Director/( TANTRANSCO).
The Inspector General of Police/Vigilance/Chennai-2.
The Executive Assistant to Managing Director( TANTRANSCO).
The Executive Assistant to Director/Transmission Projects ( TANTRANSCO). The Executive Assistant to Director/Finance ( TANTRANSCO).
The Executive Assistant to Director/Finance (TANGEDCO) . The Executive Assistant to Director/Distribution (TANGEDCO). The Executive Assistant to Director/Generation (TANGEDCO). The Executive Assistant to Director/ Operation ( TANTRANSCO).
The Personal Secretary to IGP/Vigilance/(TANGEDCO)/Chennai-2.. The Director/Computer/TANGEDCO/Chennai-2.
All Officers of Accounts Branch.
All Officers of Audit Branch.
The Assistant Personnel Officer/Tamil Development/Chennai-2 for publication in the TNEB Bulletin ( 2 Copies).
Stock file.
// TRUE COPY FORWARDED BY ORDER //
ASSISTANT AUDIT OFFICER
ACKNOWLEDGEMENT
Received (Per) FB TANGEDCO Proceedings No. 4, Dated: 06.07.2013
from the Audit Branch.
SIGNATURE
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NAME
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DESIGNATION
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OFFICE
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DATE
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TO:
The Deputy Chief Internal Audit Officer - Pension,
AUDIT BRANCH / TANGEDCO,
NPKRR Maaligai,
144, Anna Salai,
Chennai – 600 002.
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