C.B.PALIWAL,I.A.S

CHAIRMAN

D.O.No. NCDC: 9-1/2010-Admn. 22/05/2012

Subject: Payout of benefits under superannuation benefit scheme for the retired employees of the National Cooperative Development Corporation (NCDC) - regarding.

Dear Retired NCDC Employee,

As you are aware, the NCDC with approval of the Government of India and the Commissioner of Income Tax introduced a Superannuation Benefit Scheme for its employees. The Scheme is totally funded by NCDC without any contribution from the beneficiary. The Payout under the Scheme in the approved pattern as finalized for May 2012 to April 2013 by the trust is as follows;

Pay Band at the time of Retirement or death / Rs. per month
PB-1 / 3,000/-
PB-2 / 4,000/-
PB-3 / 5,000/-
PB-4 / 6,000/-

NB: Spouse of deceased employee will be paid 50% of the above amount.

2.As you are also aware that as per approved scheme superannuation benefits is payable to employees would befrom interest and other incomes generated from the Corpus and the basic corpus cannot be utilized for payment of benefits. The Fund statement from SBI Life Insurance Company was received on 1.5.2012 resulting in your trust being unable to finalize the payout earlier. I have issued necessary instructions to ensure that benefits from June, 2012 onwards are credited to your account by 10th of every month.

  1. Payment of superannuation benefits has been made to all employees who retired up to March 2012. For those who retired in April, 2012 payout of superannuation benefits will begin from June, 2012. In the same manner those retiring in May 2012, June 2012 & July, 2012 will receive superannuation benefits from July 2012, August, 2012 and September, 2012 and so on.

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4. I shall also request your cooperation in smooth implementation of the scheme. Kindly note and carefully read the following for further action on your part;

Life certificate of the beneficiary is required to be submitted in the enclosed format in the month of November every year.

5.Keep visiting NCDC website regularly for any announcement on the scheme. I also request you to inform all the retired employees/spouse of retired employees of NCDC who may be known to youabout the new Scheme..

With best wishes

Yours sincerely,

(C.B.Paliwal)

Shri./Smt.

LIFE CERTIFICATE FOR NCDC SUPERANNUATION BENEFIT SCHEME

(To be submitted in the month of November every year by the beneficiary)

Certified that I have seen Shri/Smt./Ms. ______who is a beneficiary under NCDC Employees Superannuation Benefit Scheme and that he/she is alive on this date.

2.His/her identity has been verified from one of the following document (Please √ the document verified):

  1. NCDC retired employee identity Card No.______. ( )
  2. NCDC retired employee medical card No. ______.( )
  3. PAN card number ______issued by the IT department. ( )
  4. Election Id card number ______. ( )
  5. Adhar Card number ______. ( )
  6. Driving Licence number ______. ( )
  7. SBIPass book with photo bearing account number ______. ( )

Signature of beneficiary (in presence of authorized officer):

Name :

(signature & seal of authorized officer)

NOTE:

1.Officers authorized to sign the certificate are

(i)Regional Director of Regional Offices;

(ii)Any officer of the rank of Director or above in Head Office.

(iii)Branch Manager of State Bank of India where the claimant maintains an account.

  1. Life Certificate to be sent by beneficiary to Director (P & A) every year in November by registered post/speed post. Payout of benefits from December onwards will depend on receipt of life certificate.

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