Information about Contributory Pension Scheme (CPS) introduced newly by Government of AP:
1. Mandatory to all the new recruits who joined in service on or after 1-9-2004.
2. Contribution: 10% of salary (Pay + DA) from the month of joining
3. Equivalent amount will be contributed by the Government.
4. The Scheme offers investment plans :
a. Plan-I Would imply predominant investment in fixed income instrument and some investment in equity.
b. Plan-II Will imply greater investment in equity.
imply almost equal investment in fixed income and equity.
The contributions of the employee and Government (10%+10%) are
to be deposited in a
6. The employees can normally exit at or after 58/60 years from the Tier-I of the pension system.
At exit, the employee would be required to invest 40% of
pension wealth (mandatory), to
The annuity will provide pension for the life time of
the employee and his dependent parents
9. Contributions shall be credited to:
a. 8011 – Insurance and Pension Funds
b. MH 106 – Other Insurance and Pension Funds
c. SH (04) A.P. State Government employees Contributory Pension Scheme
Existing G.P.F. Rules/Pension Rules are not applicable to the
members of the New Pension
The AG is required to adjust the Government Contribution
and Employee contribution and
Principal Accountant General (A&E), Andhra Pradesh, Hyderabad
Web Administrator: agaeAndhrapradesh@cag.gov.in