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Thursday 5 October 2017

Information about 'Commutation of Pension'

A Central Government servant has an option to commute a portion of pension, not exceeding 40% of it, into a lump sum payment with effect from 1.1.1996. No medical examination is required if the option is exercised within one year of retirement. If the option is exercised after expiry of one year, he/she will have to undergo medical examination by the specified competent authority.

Lump sum payable is calculated with reference to the Commutation Table constructed on an actuarial basis.  The monthly pension will stand reduced by the portion commuted and the commuted portion will be restored on the expiry of 15 years from the date of receipt of the commuted value of pension. Dearness Relief, however, will continue to be calculated on the basis of the original pension (i.e. without reduction of commuted portion).

The formula for arriving for commuted value of Pension (CVP) is
CVP = 40 % (X) Commutation factor* (X)12

* The commutation factor will be with reference to age next birthday on the date on which commutation becomes absolute as per the New Table as Annexure to this Deptt's O.M. No. 38/37/08- P&PW(A) dated 2.9.2008
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EMERGENT

NOTICE FOR FEDERAL SECRETRIAT

To

            All General Secretaries and office bearers of NFPE Unions

EMERGENT FEDERAL SECRETARIAT MEETING OF NFPE

            An emergent Federal Secretariat Meeting of NFPE is decided to be held at NFPE office North Avenue Post Office Building New Delhi at 04 PM on 7th October 2017 to discuss some important  issues emerged recently

            .All available G.S. & office bearers at Delhi H.Q. should attend meeting compulsorily and those are out of station should also try to come.


R.N.Parashar
Secretary General
VERIFICATION OF MEMBERSHIP FOR RECOGNITION OF SERVICE ASSOCIATIONS REPRESENTING GRAMIN DAK SEVAKS (GDS) (EARLIER CALLED EXTRA DEPARTMENTAL AGENTS) UNDER EXTRA DEPARTMENTAL AGENTS (RECOGNITION OF ASSOCIATION) RULES-1995
GENERAL INFORMATION AND FACTS ABOUT INDIAN POSTAL SERVICES

Indian postal service also known as Indian post office is a most widely distributed postal system in the world (second is china). Indian postal service is run by Indian government. It is a part of Ministry of communications and information technology.


1.   The first post office in India was established by British East India company in Bombay in 1764.
2.   Postage stamps were first used in India in 1852 at district of scinde (also known as scinde dawk). On 1st October 1854, the first all India stamp was issued. Post independence, India's first postal stamp was issued on 21 November 1947. Independent India's first postal stamp depicted the picture of national flag of India. Mahatma Gandhi was the first person whose picture was depicted on free India's stamp (1948).
3.   India is divided into 23 postal circles. Each circle is divided into regions. Regions are also further divided into divisions and subdivisions. Beside 23 circles, there is also a base circle. Which provides postal services to Indian armed forces. Each circle is headed by chief postmaster general and region is headed by postmaster general.
4.   Pincode system was introduced in India on 15 August 1972 by Shriram Bhikaji Velankar. In 1880 money order service was first started.
5.   Indian pincode is six digits long. The first digit represents the region, second digit represents the subregion, the third digit identifies the district of the region and last three digits are assigned to the post offices.
6.   On 18 February 1911, world's first official airmail flight was started. World's highest post office is located in Hikkim, Himachal Pradesh, India ( height is 4,700 m).
7.  Due to the increase of digital services, Indian Post had terminated two important services - Telegram (in 2013) and Money order (in 2015).
8.   In 2008, Project Arrow was launched to reform the Indian Postal Services to make it more people friendly and digital.
9.   Beside postal services, Indian post offices also offers different financial services too.  

QUICK INFORMATION ABOUT POSTAL SERVICES
First Post Office of India
Bombay in 1774
Founder of Postal in India
 Governor General Lord Dalhousie
First postage stamp of India
 Sinde Dawk in 1852
First airmail
 From Allahabad to Naini in 1911
First Post office outside India
 Dakshin Gangotri, Antarctica in 1983
Postal staff collage
 Ghaziabad
Indian Postal Day
10th October

IMPORTANT YEARS OF INDIAN POSTAL SERVICES
Year
Event
1774
First post office of India was established in Bombay
1852
First postal stamp was introduced
1863
First Railway mail service was started
1879
First Post Card was introduced
1880
Money Order service was started
1911
Airmail service was started
1972
Pin code was adapted
1986
Speed Post service was started
2004
E post service was started
2008
Electronic Money order and Instant Money Order services were started

Sb Order No. 13/2017 : Revision of Interest rates for Small Savings

 


Admissibility of DA for inhouse Training (Postal Training Centers)

    

SB Order No.14/2017 : Printing of Passbooks in CBS Post Offices

 

    Postal Savings Schemes - Ready Reckoner


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