Tamilnadu Contributory Pension Scheme - Rate of interest from 1-1-2019 to 31-3-2019 | Labour Law News

Tamilnadu Contributory Pension Scheme – Rate of interest from 1-1-2019 to 31-3-2019

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Tamilnadu PENSION – Contributory Pension Scheme – Rate of interest from 1-1-2019 to 31-3-2019

Tamilnadu Government, Finance [Pgc-I] Department issued circular vide G.O.Ms.No.50, Dated 06th February 2019 regarding PENSION – Contributory Pension Scheme – Accumulations at the credit of subscribers to the Contributory Pension Scheme (both Employees and Employers Contributions) – Rate of interest for the financial year 2018-2019 – With effect from 1-1-2019 to 31-3-2019 and details as follows.

PENSION – Contributory Pension Scheme – Accumulations at the credit of subscribers to the Contributory Pension Scheme (both Employees and Employers Contributions) – Rate of interest for the financial year 2018-2019 – With effect from 1-1-2019 to 31-3-2019 – Orders – Issued.

Read the following:-

1. G.O.Ms.No.152, Finance [PGC-I] Department, dated 02-05-2018.

2. G.O.Ms.No.271, Finance [PGC-I] Department, dated 13-08-2018.

3. G.O.Ms.No.352, Finance [PGC-I] Department, dated 30-10-2018.

4. G.O.Ms.No.25, Finance [Allow.] Department, dated 21-01-2019.

In the Government Order first to third read above, orders were issued fixing the rate of interest for the accumulation at the credit of the subscribers to the Contributory Pension Scheme during the financial year 2018-2019 as detailed below:

Sl No Quarter  Period Rate of Interest
1 1-04-2018 to 30-06-2018 7.60%
2 II  1-07-2018 to 30-09-2018 7.60%
3 III  1-10-2018 to 31-12-2018 8.00%

2. In the Government Order fourth read above, the rate of interest for accumulation at the credit of subscribers to the General Provident Fund [Tamil Nadu] were fixed at the rate of 8% (Eight per cent) with effect from 1st January, 2019 to 31st March, 2019.

3. The Government now direct that the rate of interest on the accumulation at the credit of the subscribers to the Contributory Pension Scheme shall carry interest at the rate of 8% (Eight per cent) with effect from 1st January, 2019 to 31st March, 2019.

Source: TN Govt

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