Big relief to large number of central govt employees

GoI has given a big relief to those central govt employees whose selection for appointment was finalized before January 1.2004 but  joined service on or after the said date , can now opt to be covered under the Central Civil Services (Pension) Rules, 1972 instead of the NPS. The last date to exercise this option would be May 31,2020, and those who fail to exercise the option by this stipulated date would continue to be covered by the National Pension System. Those who opt Pension Rules shall be required to subscribe to the General Provident Fund (GPF) and their NPS account shall be closed from November 1, 2020.