Attention CPS Teachers and employees are Approaching Retirement
CPS Teachers and employees Retirement Guide: Essential Steps to Secure Your Pension"
Some of our fellow CPS teacher friends have already started retiring, and many others will follow soon. Those who joined the service later will be retiring in the coming years. However, the financial situation post-retirement can be challenging, as the pension they receive might not be enough to sustain them comfortably.
To ensure a smooth pension process, here’s a simple checklist and the necessary steps you need to take after retirement:
Documents Required:
✔ Retirement permission order from the appointing officer
✔ Completed service book
✔ Updated nominee details
✔ Xerox copy of your bank account details
✔ PAN card (Xerox copy)
✔ 10 passport-size photos
✔ 30 revenue stamps
✔ Aadhaar card (Xerox copy)
Steps to Process Your Pension & Benefits:
1️⃣ Gratuity Proposal – Send the required proposals to AG for processing.
2️⃣ ELS/HPL, GIS Bills – Coordinate with your DDO for bill processing.
3️⃣ TSGLI Final Claim – Get the required proposals prepared by the DDO and send them to the TSGLI office.
4️⃣ CPS/NPS Pension Claim – Download the required form from the link below and visit the concerned STO/ATO with the documents mentioned above.
👉 NPS Pension Withdrawal Form
Choosing Your Annuity Service Provider
Once you submit your CPS pension claim, you need to choose an annuity service provider from the following list:
✅ Aditya Birla Sun Life Insurance
✅ Bajaj Allianz Life Insurance
✅ Canara HSBC Life Insurance
✅ Edelweiss Tokio Life Insurance
✅ HDFC Life Insurance
✅ ICICI Prudential Life Insurance
✅ IndiaFirst Life Insurance
✅ Kotak Mahindra Life Insurance
✅ LIC (Life Insurance Corporation of India)
✅ Max Life Insurance
✅ PNB MetLife India Insurance
✅ SBI Life Insurance
✅ Shriram Life Insurance
✅ Star Union Dai-ichi Life Insurance
✅ TATA AIA Life Insurance
Selecting the Right Annuity Scheme
You can choose from the following pension annuity options:
🔹 Annuity for Life – Pension is paid for life.
🔹 Annuity for Life with Return of Purchase Price on Death – Pension is paid for life, and the initial amount is returned to the nominee after death.
🔹 Annuity for Life with 100% Pension to Spouse After Death – Pension continues for the spouse after the pensioner’s death.
🔹 Annuity for Life with 100% Pension to Spouse + Return of Purchase Price – Pension continues for the spouse, and after their death, the initial amount is returned to the nominee.
🔹 NPS-Family Income Option – Provides a family income instead of a lump sum.
Final Step:
Once you have all the required documents and have selected your annuity provider and scheme, visit the concerned treasury officials to get your CPS pension sanctioned at the earliest.
Take these steps early to avoid delays and ensure a hassle-free retirement process. Wishing all our retiring teachers a peaceful and financially secure future!
No comments:
Post a Comment
Need Suggestions