Madhya Pradesh Finance Minister Jayant Malaiya on Tuesday announced in the Assembly that Government employees posted in the State since January 1, 2005 could avail the benefit of withdrawing money thrice in the course of five years under the New Contributory Pension Scheme.
Raising the issue during Question Hour, Prahlad Bharti of BJP said the facility to withdraw money is provided under the National Pension Scheme but it was not provided in the State.
Malaiya said the State Government employees would be able to withdraw money for children’s education, marriage, purchase of plot or house and serious illness of family members such as kidney transplant, heart transplant, cancer, etc during the period of their service.
Bharti had sought to know about payment of ownership and withdrawal from pension contribution accounts on retirement or accidental death. He wanted to know whether the wife of an employee was entitled to monthly pension after his death.
He said 60 per cent of the deposited contribution could be withdrawn lump sum while annuity from the rest amount would have to be purchased on retirement.
He said 100 per cent amount of the contribution is paid to the nominee in case of demise.