Appointment of new Trustee Bank (TB) under National Pension System (NPS): CGA’s Instruction

Controller General of Accounts (CGA) has instructed vide his No. 1(7)(2)/2000/TA/Pt.file/325 dated 12.06.2013 to all the Central Government Offices that they should continue to remit funds to the designated NPS Trust accounts being maintained with the current trustee bank i.e. Bank of India till 30th June, 2013.  Axis Bank as a new Trustee Bank in place of Bankd of India for National Pension System with effect from 1st July, 2013.  Text of CGA’s letter is reproduced below:- 

1(7)(2)/2000/TA/Pt.file/325

MINISTRY OF OF FINANCE

DEPARTMENT OF EXPENDITURE

CONTROLLER GENERAL OF ACCOUNTS

7m FLOOR, LOK NAYAK BHAWAN

NEW DELHI

 Dated: 12.06.2013

OFFICE MEMORANDUM

Reference is invited to Pension Fund Regulatory and Development Authority Circulars issued under Letter Nos. PFRDA/2013/10/CRTB /1 dt. 30.04.2013 86 31.05.2013 (copies enclosed) regarding appointment of Axis Bank as a new Trustee Bank in place of Bank of India (the current Trustee Bank) for National Pension System (NPS) with effect from 1st July 2013. 

2. All the Offices shall continue to remit funds to the designated NPS Trust accounts being maintained with the Current Trustee Bank i.e. Bank of India till 30th June 2013.

3. Pr.CCAs/CCAs/CAs are requested to circulate the contents of the Circulars to the offices under their control immediately so that funds could be remitted to the Trustee Bank in time.

4. 1.his issues with the approval of the competent authority. 

sd/-

(Chandan Mishra Dwivedi)

Dy. Controller General of Accounts

To view the original copy of order please visit CGA website click here