74 94TF Tf MTFTVTIFT5 (Affi} Radhey Shyam Garg Geneiai Manager (Lawi

74 · 94TF Tf MTFTVTIFT5 (Affi} Radhey Shyam Garg Geneiai Manager (Lawi

3 · LS 5 No. NHBILD/ /2003 July 31, 2003

2 · .

2 · Definitiong In these Iegiilations, unless the context otherwise fequites,

5 · Constitutioni of tle Tund (1) The Bank shall constilute a Fund to be called the' "National Housing Batik (Employees ) Pension Fund"' under an irrevocable trust within one hundred Lwenty days from: the notified date. (2) The Fund shalj have foi: ity sole purpose the provislon of the payment of pension o Family pengion in accordance with these regulations to the emiployee or hls family.

11 · Aetuarial iuvestigation of the Tuud The Bank ghall calse a1 inyestigation to be made by an actuary into tle iinancial condition-of the Fund every financlal year; 0 the 30lh day of June, and make Euch additiopal annual contribitiols fo the Fjnd a8 may bc required tq gecure payment of tlie benefits under these regulations: Provided. that the Bark shall cause: an iuestigation tq be made by a actuary into the financial 'condition Of the Fund; &8 On"the 30/h day of Juine or giick 'otlier 'dlate a8,may be decided by the: Board immediately: foilowing the finaucial Year in' which the Fund .jg constituted

12 · Investment of tlie Fjind All moneys contributed to the Fund 01 recelved dr accruing after that-date by way of interest: Or otherwise to the Fund,. mnaj; be depogited in a Post Office Savings Bank Account in India or in & current account witl any scheduled bank Q1 ytilised in accordance witli tho proyisions pFthe Indian Trust Act; 1882 (2 of 1882). 13: Payment out of tlie Tund. The payment of" beriefits by the- Trust shal] be administered for grant of penslonary henefits to the employees.of the Bankor (he family pension to the falnilieg of the deceased ezg oyees

14 · Qualifying Seryice: Subject to the other conditlons contained in these regulations, an) employee who has rendered a minimym of ten years of gervice in the Bank On tle clate of his retirement or the date OIL which he is. deemed to have reliredl shall qualify ` for pension:

15 · Commencemnent 0f qualifying seryice Subject to the-provisions contained in thege regulations, qualifying service of au erployee shall comnmence fiorn the date he takes charge of the post to which he is first appointed on & permanent basis irl the Bank 16. Counting Of service 0n1 probation Service O probation againgt:a post in-the Bank if followed by confitmation in the same Q1 any-other post shall qualify: 17. Counting 0€ periads spent: 6n-leave: All leave during service in tlie Bank for which leave salary i8 payable ghall count as qualifying service: Provided that extraordinary leave on loss' of pay shail not count as qualifying service except when ttle sanctioning authority kas directed that guch leave not exceeding twelve months during- the entire gervice, may co 'nt a8 service for all purposes including pengion:

22 · . Forfeiture 0f service. al] (1) The resiguatioji ot rlismissai employee fromn the service of the O1 removal or teruuination of arcl consequeritiy shali Bank shail entail forfeiture of his entire past zervice nol qualify fqr pensionary benefits. (2) Au interruption in 'the service: of an except in tha following cases, employee entails forfeitre of his past service, namely; (a) authorised leave ofabsence; (6) suspenbion,, ivhere it 'ig immedlately folfowed: game Or & different post; o Where: the by feinstatement; ihether in the retired'on attaining the . employee' dles oriis'pertitted to retire or is age of oompulsory retirernent wlile uhder, (c) transfer to Buspension; non-qualifying gervice in an Government oc {lc Bank 'E such establishment iitder ihe: control of the in the public interest; transfer lias been ordered by a,competent authority (d) joining time while 0n fransfer from one post to anothcr; (3) Ovoewitlotanding Auything contained in sub-"gulatiqg Q) the leavrder; commute Ietrqapectively the periodu 6f beence appointing authority may, leave. wijhout; Jeave as extraordinary

23 · Period of deputation -to foreign gervice. An ernployee deputed on forelgn gervice to the-United Nations Or any other foreign body Or organisation may at hig option (a) pay pension coritribution in Tespect;of his foreign Bervice anld courit such service a8 qualifying service under these regulations; Or (b) avail ofthe retirement benefits admlggible unider the Iules of tha foreigu employer and.not count such service a8 qualifyitg service under these Tegulations: Provided that where ar employee opts. for clause (b), retirement benefits shall be payable to hlm in India in rupees fon g%h date and in such manner a8 the Bank may; by- order specify. 24. Military Service. An employee who has rendered military service before appointment in the Bark shall continue lo draw the military pension; if any, and milit tary service rendered by tlie employee shall nol count a8 qualifying service fot pension: 25. Period of deputation to an"orgajrig? ion: iit India_ The pefiod of dleputation of an) employee to another organisation in India: Will courit a3 qualifying service: Provided that the organisation to which he is deputed or the employee pays to the Dank the pensionary contributions at the rates specified in:sub-Legulation (a) of regulation 7 of these regulations Qr at the rates specilied by the Bank at the time of dleputation; whichever: is higher.

26 · Addition to qualifying service in,Special circumstances_ An employee shall be eligible to add to his service qualifying for superannuation pension (but not for any other class ofpension) the actual period not excesding onc fourth of the length of his service er the actual period by which his age at the tirne of recruitment exceeded the limit specified by the Bank fof direct recruitmient Or a period of five' years, whichover igle ig less, if the service 01 post t0 which the employee is appointed is One (a) for which post-graduate" 'research, O1 - 'specialist qualification OI experience in scientific, technological; O professional fields, is essential; (6):to which candidates of age: exceeding: the upper age; limit: specified for direct rectuitrneht are normally fectuited;.: (c) for which the candidate was given relaxation over and above the maximum limit fixed by the Bank' on accoumt of his possesging highar' qualification;AgC experience: O1 Provided that this concession shall no: be admissible to.an employee unless hig aotual qualifying service at the tire he quits the service in:the Bank is Ilot less than ten years: Provided fiirther' ihat this concession zhall be ndmissible if the recruitment rules in respect of the gaid service Or post contaln %zecific provision that the gervice or post" is Olle which carries benefit of this regulation:

28 · Pension OJ Voluntary Retirement (1) An employee, at any time, after he las mpleted twenly years of qualifying service; after giving uolice of ndt less than: three morithg in writing to the competent authority, may retire from seryice: Provided that this sub-regulation shall not dpply to an employee who %is on deputation 'Or' On sludy leave abroad Uless after having been transferred or" having relurned;to India he has resuned charge of the post in India and has derved for & period of not les3 than ono year: Providedl firther that thig sub-regulation ghah jot apply to an - ernployee who seeks cetirerrent fronl Service for: being absorbed permiahently in an autonomous body O1 a seclor public undertaking O1 companj-Or institution O body, whether incofporated: Or not to wlich he is on deputation at tlie (irge" of seeking voluntary Ietirement: Provided also that this sub-regulation shall ot apply to an employee who is deemed to have retired in accordance with clause () ofregulalion 2 (2) 'Thie notice of voluntdry ' retirtment given under sub-regulation (l) -shall require icceplance:by the comnpelent authority: Provided that wllere lhe corpetent authority does notrefuse tc grant the permission for: retirement before the expiry of the period specitied In the said notice, the retirement shall become effective from the dale of expiry of (he {aid period ` (I) (a) An employee Iefetred to in sub-regulation (1) may make & tequest in writing to the competent authority to aceept notice of voluntary Ietirement of less than' three months givinig reasons therefor; (b) Or receipt'cf 4 request under clause(e), (he compotent authority may, subject t the provisiong of-sub-regulation (2), consider such request for the curtailment of the period of nolice of three monthg On merits and i€ it is galisfied (hat the curtailment of the period of Totice will not cause' any administrative inconvsnlence, the competent authority may relax Ihe requirement of notice of three months O the condition that-the' employee shall not apply for commutation' of a part of hig pension before (he expiry of the hotice oF three ronths.

4N · HLTFIA e Hutur

36 · Dearness relief: (1) Deainesg felief shall: be . granted 01: basic, pension_OE_famih pension' Or_invalid pension Of:0i1 compassionate ,allowance In accordance with the' ratcj specified in Appendix IL: (2) Dearness relief shall be allowed Ori fuil basic pension even after commutation:

38 · becomes payable; the amount of.both the pensions shall also be limited to four thougand elght hundred rupeed per mengem; (c) if both the family pensions ate payable at the rate mentioned in gub-regulation (1) of regulation 38 the amhount; of the two pengions shall be: limited to two thougand four hundred rupees per Ineniseni 5 (a) where family peusion 18 payable to more Wvidows than one, the farily pension shall be paid to the widows it equal shares; (6) o the death of a widov; lier ahare: of the family petsion ghall become payable to her eligible child: Provided that if tlie widow is not srvived by any child; her share: of the family pension shall not lapse buf shall be:payabls to the other widowg in equal-sliares; ot ifthere s only one Sich other' widow;i Fill; lo her 'c) where' tlie : deceased employee Or pensioner j8 gurvived by-a widow but has: left: behind eligible child 0-children: fom: arather wife.Whq is Hol alive; ihe eligible child Or children shall be entitled to the share oE family pension which:the mother would have Ieceived if sle had been 'alive.at the time-of death of tlie employee:or: pensiorier: Provided that on tlie sharu ot shares cf family pefsion payable to gueh & child O1 children Or to a widow Or widows; ceasing to be' payable, suclf Bhare Or shares snall not lapse, but shall be payable to the other widow o widows prto 0 Elier chikdl O1 children' otherwise eligible, in equal shares; Or if tliere is only one widow Qr child, in full; to such widow or child; d) wliere' the tamily pension' is payable _ tc twin ehildren; itashall *e;paid: to such children in the Indhner gpecifiod:in clauge (f) of sub-egulation (1); (e) excepi a3 providod in this sub-regulation tls famiiy pension shall uotbe payable to more than one tieniber 8Ehe famly at the samle time. (6) WWhere a female employee O male cmployeo dlics lcaving behind & judicially geparated husband 0r widow and 1jo child Uc childreu; the family pension in respect of the deceased shall be payable to the person surviving: Providedl that where i1 a case the judlcial separation ig granted 0h adultery the . giound of and the death , 0f the. eniployee' takes place during the: period of.such judicial separation, the family pensioj ghall not be payabye to tlie person Jurviyiiig;iE such:perspn" surviving was held guilly of eommic tling" 'adultery. (7) (a) where. a female eniployee or' male: employee dies leaving : behitid a' judicially separated husband Or widow witha child or chlldren, thie family pensior payable in respect of the deceased slall be payable to the surviving person provided he,or ghe is the glardian of sucli child or children; (6) where thc surviving berson has ceaged to be jhe guardian oEguch child gi ghiaren;, such family perisiol ,shall be payable: to the person wlio 'j#: -the actual Etaicliari of such child o children;

40 · Comrnutatiok (1) An:" Dayment 0f a fraction employee shail be entitled f cdinniute for [lOt exceecling Orie-thjrd ofhis penslop: 2 lunp: Stiinl toiviced that in respect of*an' eruployce' who regulation: 3 'of tltese regulations;' the ig: governed {by: sub-reguiation (4)-of cOnifnute fbr a jurpSLill' facly of sutch employecfghall alsogtateatitled adlmissible to the paynielit a" facticji: not exceeding' Jlie-tlird to' erployee. of : the 'pefsiul (2) Av:enployee' shall indicate may either indicate the Ehefniactiog oF pension which he-desires ,to maximum limit of one third pension or such commute and desire to cominute. lower liinit as he may (3) if Eraction oF pension to be: iupee shall be;j ignored foi the. commuted: regults in fraction. purpose; 0f comiritation: ofl rupee, such fraction: of (4) The up2 sum payable to an given below: applicant shall be calculated in accordance with the Tabie

41 · Pensiou: suhjcct to;future good coudict; Fulure good: conduct ghall Ije aj1 implied condition of every grant of pension and its contintatice under these regulations 42. Witllolding dr wifhidriwal of pensiol: The coripetenf authority Inay; by arder in writirg, withhold Dr withdraw a pension 0i a part thereof, whether:permanently 01" for specified period if the pensioner is convicted bfa serious crime Of critninal breach of trnst or forgery O1 acting frauduleiitly Of is founi guilty of gtave misconduct; Pfovided that whero & part of pengit O1} js withheld -or withdawn; the amount of guch peusion shall not be Teduced belqw the tinimnum perision per mengeth payable undor these regulations_ 43. Conyictloj by Court ~ Where a pendioner i8 convicted oE.a serious crime,by .4 court; action shall be takeri ib the light oftho judgement ofthe court relating to gch conviction 44. Peingioner guilty *of grave isconduct In a case not fallitig under: regulatton.43 if considers that the pensioner. i8 prima facio guilly of the ` competent authority grave misconduct it shall, before pasging an order; follow tlio procedure specified in regulation 6 of the National Housing Bank Employees (Disciplitie and Appeals) Regulalions, 1994. 45. Provigioilal fiengion; An 'employee who hag tetired . Qn1 *altainlng the age .0f guperannuation O1 otherwise and against whom any departmental O1 judioial proceedings are instituted O1 , where departmental proceediugd are continued, a provisional pension, to the mnaximum pensidn which 'would have been admissible to him, wouli be equal allowed subject to adjustment against final retirement benefits ganctioned to him, upon conclusion "of tle proceedipgs 'but: nu recovery ghall be made where the petgion finally . sanctioned ig legg than the piovigional:pension: Of thle pension i8 reduiced or withheld etc_ either permnanently of-for & specified perlod. (2) In guch case; the gratuity shail not be paid to guch an employee untll the conelusion af ihe proceedings against" hit;, Tlie gratuit; shall be paid to him on conclusion of tlio proceeclingg: gubject to tbe decigion gf the proceeding8 , Any recoverieg-to be inade from &n employee shall be adjusted against the amount of gratulty payable_ Explanation: In this Chapter;

979 · T1

51 · Date From-Whiel-pension -beeomes payable: (H) Except in-the case of:an.employee to whom the provisiong of regulation-42 'and regulation 45 apply; a penslon other than Family pension: shall become payable fr(n the date ` following {hie dale .0n1 which ZTL employee retires 0r the notified: date; wliclever ig lafer: (2) Family pension shall become payable frbm the date follawing thc date of dleath of thc employee or the pensioner:Or the notified date; wlichever: is later: (3) Pension including family pengion shall *be payable_for the day 0n which its reeipient dies.

55 · Residuary provisions Iii case: ~f doubt, in the Ihatter;' af applicatlon:0f these regulations, regard' may be had to thie corredponding provislols '0/ Central Civil Services Rules, 1972 O Central Civil Services (Cow utation of Pension) Rules, 1981, "pplicable to the Central Government employees with Zuch exceptiong and modificationg &8 the Bank; wilh llie previous sanctioh;of the Central Government,inay from tlme t time, determine

0 · 35 per cent: 0.35 per cent; of Rs.2400_ ~plus 0.29 pei: cent: of basic pension in excess 0ERs.2400 0.j5 per cent of Rs.2400 plus 0.29 per cent of the. di fference between' Rs,jgso and. Rs.2400:plus 0,17 *per,cent:"of basic pension in excess 0f Rs.3850. 0.35-per cent: of Rs.2400 plus 0.29 per cent: of the: difference" ~between Rs.3850 and; Rs.2400 plus 0.17 per cent of the difference belween: Rs4IOO and.Rs.3850 plus 0.09:per cerit_ of basio pension in excess_of Rs.4100.