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This is short notes on Service Discharge Benefit Scheme, 2011. This information will be helpful for those who are preparing for the examination of LDCE Inspector of Posts and PSS Group B. Any suggestion please drop a message in comment section or email to " karapoorna@gmail.com"

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SERVICE DISCHARGE BENEFIT SCHEME, 2010

Background

On recommendation of Shri R S Nataraj Murti Committee
W.e.f. 01.04.2011
Based on NPS-Lite Scheme, 2010 introduced by PFRDA

Eligibility

All GDS appointed on or after 01.01.2011
Existing GDS who have completed one year’s satisfactory service as on 01.01.2011 had given an option either to enroll SDBS or continue to the existing severance amount scheme.
Provisionally engaged GDS and substitutes engaged are not eligible

Subscriptions

Monthly contribution shall be Rs.300/- from Department and GDS as well
No contribution/subscription during “PUT OFF DUTY” or “Unauthorized absent from Duty”

Appointment/Permanent Absorption

On appointment or permanent absorption of GDS shall have to quit the scheme and amount so accumulated should to transferred to new NPS account

Fee for issue Duplicate PRAN Card

First Time : Rs.20/-
Subsequent Rs.30/- shall be credited in UCR

Exit from NPS

On termination

Minimum 40% of Accumulations should be invest to purchase a life annuity
60% or remaining accumulations shall be paid to GDS in lump sum

Premature Exit

After attaining the age of 58 years

80% of Accumulations should be invest to purchase a life annuity
20% of accumulations shall be paid to GDS in lump sum

Resignation

Resign before normal exit (Termination i.e.65years) the account shall be treated as closed on the date of acceptance of resignation
85% of Accumulations should be invest to purchase a life annuity
15% of accumulations shall be paid to GDS in lump sum

Death in Service

Nominee(s)/Legal Heir(s) of GDS may

i) Have the option either to receive the entire accumulation till the date of death in lump sum or

ii) To continue the enrollment under the scheme till the month by which the deceased GDS could have attained the age of normal discharge (i.e 65 Year at present)

If the nominee/legal heir of deceased GDS, have excerised the option to continue the enrollment KYC should be completed subject to

i) No further contribution from government

ii) Nominee/LH should subscribe from their own pocket

iii) Government shall bear no responsibility

When continued to the date of normal discharge, the share percentage will be 40% shall be invested and 60% will be paid in lump sum.

Dismissal/Removal from Service

Shall be cease to be a member and forfeit his past service from the date of Dismissal/removal
Account shall be closed immediately
Accumulation in the account shall devolve to Government

Reinstatement in Service

Reinstated by a court order/Appellate, Revisionary authority such GDS shall continue to be a member and accumulation subscription for period which were not contributed towards subscription shall be paid by the Department