Jamia ranked at no. 1 for best practices in the implementation of New Pension Scheme

Jamia Millia Islamia (JMI) has been adjudged as the best performer among 557 Central Autonomous Bodies (CABs) for the practices adopted in the implementation and effective monitoring of the New Pension Scheme (NPS) by the PFRDA (Pension Fund Regulatory and Development Authority).

 

JMI was adjudged the best performer in NPS implementation on the basis of the following five practices adopted by the university:   Timely Registration with NSDL and to obtain the PRAN, Initiation of timely pay deduction, Timely and error- free upload with NSDL website, followed by RTGS and credit to the respective subscribers’ account  within 7 days of relevant pay month, effective and timely exit / withdrawal on online basis and partial withdrawal on timely basis.

 

A three-member team comprising of officials from the Finance Office JMI, namely, Mr. Noorul Hoda (Asstt. Registrar), Mr. Ahmad Vajihuddin (Section Officer) and CA. Nida Sultan (Financial Consultant) were selected to attend the conference on NPS implementation and make a presentation on behalf of the university. JMI had been invited to give a presentation on the best practices adopted by the University with the objective to guide and encourage other CABs to enhance their performance and implementation of NPS.

 

Vice Chancellor-JMI, Prof Talat Ahmad was joined by Pro-Vice Chancellor JMI, Prof Shahid Ashraf, Registrar, Mr A. P.Siddiqui and Finance Officer, Mr Sanjay Kumar in felicitating and congratulating the team on their good performance at the PFRDA conference.

 

Prof Talat Ahmad said that it was satisfying to note that JMI has been recognised and appreciated in its implementation of NPS. “The university is delighted to know that it has stood at no. 1 for best practices among all the autonomous bodies which goes to show how effective and robust our system is. JMI’s performance was well appreciated in the last General Audit too.” Prof Ahmad said.

 

It is important that the Finances of the university should do well and in accordance with the government rules and regulations, Prof Ahmad said, hoping that other departments and sections of the university will learn from the good performance of the Finance Office and follow suit.

 

Mr Sanjay Kumar, Finance Officer, JMI said that “all subscribers are getting NPS credit within 7 days of previous pay month because the university ensures timely uploading and remittance. Moreover, the passion with which the university works with its pensioners is exemplary. There is not a single pending complaint on the pension side which is a commendable achievement of the university. JMI takes pride in this given that pensioners are located in far-flung regions of the country and every effort is made to make paper work and processing convenient for them”, Mr Kumar added.

 

It is commendable that 91% subscribers had provided/ updated their nomination details under NPS as on April 30, 2018 and that there is not a single case of inward/ outward fund returned in April 2018, Mr Sanjay Kumar added.

 

The Conference on NPS Implementation by CABs was organized by PFRDA on June 13, 2018 at Indian Habitat Centre, New Delhi. The  opening address of the conference which saw active participation from several top-notch CABs of the country was made by Dr. B.S. Bhandari, WTM (Economics), PFRDA along with Mr. Hemant G. Contractor, Chairman, PFRDA and the Chief Guest, Mr. Ajay Narayan Jha, Secretary, Dept. of Expenditure, GOI.

 

JMI’s presentation by CA. Nida Sultan and team was well appreciated by the PFRDA. It is noteworthy that when NPS was initiated by the government in January 2004 and its architecture completed in February, 2009, JMI was among the initial entrants to register under the scheme as early as July 21, 2009 due to the joint efforts of its Finance Office and university administration.