Short notes/MCQs/Quiz on Service Discharge Benefit Scheme (SDBS) 2010. This information will be helpful for those who are preparing for the examination of LDCE Inspector of Posts and PSS Group B.
SERVICE DISCHARGE BENEFIT SCHEME, 2010.
- On recommendation of Shri R S Nataraj Murti
Committee
- W.e.f. 01.04.2011
- Based on NPS-Lite Scheme, 2010 introduced by
PFRDA
Eligibility
- All GDS appointed on or after 01.01.2011
- Existing GDS who have completed one year’s
satisfactory service as on 01.01.2011 had given an option either to enroll
SDBS or continue to the existing severance amount scheme.
- Provisionally engaged GDS and substitutes
engaged are not eligible
Subscriptions
- Monthly contribution shall be Rs.300/- from
Department and GDS as well
- No contribution/subscription during “PUT OFF
DUTY” or “Unauthorized absent from Duty”
Appointment/Permanent Absorption
- On appointment or permanent absorption of GDS
shall have to quit the scheme and amount so accumulated should to
transferred to new NPS account
Fee for issue Duplicate PRAN Card
- First Time : Rs.20/-
- Subsequent Rs.30/- shall be credited
in UCR
Exit from NPS
On termination
- Minimum 40% of Accumulations should be invest
to purchase a life annuity
- 60% or remaining accumulations shall be paid
to GDS in lump sum
Premature Exit
After attaining the age
of 58 years
- 80% of Accumulations should be invest to
purchase a life annuity
- 20% of accumulations shall be paid to GDS in
lump sum
Resignation
- Resign before normal exit (Termination
i.e.65years) the account shall be treated as closed on the date of
acceptance of resignation
- 85% of Accumulations should be invest to
purchase a life annuity
- 15% of accumulations shall be paid to GDS in
lump sum
Death in Service
- Nominee(s)/Legal Heir(s) of GDS may
i) Have the option either
to receive the entire accumulation till the date of death in
lump sum or
ii)To continue the enrollment
under the scheme till the month by which the
deceased GDS could have attained the age of normal discharge (i.e 65
Year at present)
- If the nominee/legal heir of deceased GDS, have
excerised the option to continue the enrollment KYC should be completed
subject to
i) No further
contribution from government
ii) Nominee/LH should
subscribe from their own pocket
iii) Government shall bear
no responsibility
- When continued to the date of normal
discharge, the share percentage will be 40% shall be invested and 60% will
be paid in lump sum.
Dismissal/Removal from Service
- Shall be cease to be a member and forfeit his
past service from the date of Dismissal/removal
- Account shall be closed immediately
- Accumulation in the account shall devolve to
Government
Reinstatement in Service
- Reinstated by a court order/Appellate,
Revisionary authority such GDS shall continue to be a member and
accumulation subscription for period which were not contributed towards
subscription shall be paid by the Department
- Postal Directorate is functioning as Oversight Office
- PFRDA is the nodal Agency
- CRA will maintain the data and transmit the
data to trustee bank
- NSDL Mumbai is current CRA for this scheme
Important Abbreviation on this topic
PFRDA :
Pension Fund Regulatory Development Authority
CRA
: Central
Record keeping Agency
CC
: Collection
Centre
SCIL
:
Stockholding Corporation of India
SEBI
: Security
and Exchange Board of India
OO
: Oversight
Office
PFM
: Pension Fund Manager
PRA
: Permanent Retirement Account
Important Forms
SDBS - 1 - Closure of Permanent Retirement Account
due to appointment to regular dept. post/permanent absorption
SDBS - 2 - SDBS Register
SDBS - 3 - Supplimentary List
SDBS - 4 - Subscription List
by Postal Division
SDBS - 5 - Consolidated
Subscription List
SDBS - 6 - Exit/Closure of
Permanent Retirement Account due to RESIGNATION
SDBS - 7 - Nomination Form
SDBS - 8 - Option Form
1. Service Discharge Benefit Scheme (SDBS) came into
effect from
01-04-2011
2. SDBS is based on which of the following Schemes?
NPS-Lite
3. PFRDA appointed which one as Central Record
Keeping agency?
NSDL
4. Who is the custodian agency responsible for holding
Assets of the NPS trust?
SHCIL (Stock Holding Corporation of India)
5. Oversight office for the purpose of SDBS is
O/o Director General (posts)
6. Collection centre (CC) for the purpose of SDBS means
O/o Head of Postal division
7. Service discharge benefit scheme for Gramin Dak Sevaks (GDS)
has been implemented as replacement in which of the following?
Severance amount
8 Who among the following Gramin Dak Sevak is /are
not eligible for joining service discharge benefit scheme?
a) Provisionally appointed GDS
b) Substitutes engaged for leave periods of regular GDS
9. What is the rate of severance amount paid to the GDS
from 01.01.2016 who have not opted for SDBS?
Rs 4000 /- for every completed year
10. The rate of severance amount of Rs 4000/- for every
completed year of engagement of GDS is effected from
01.01.2016
11. Severance amount can only be paid to those who have
completed ___ of continuous service and have not opted for sdbs?
10 years
12. Revised maximum ceiling of severance amount to
eligible GDS is______
150000
13. How to calculate severance amount for the period
less than a year?
Calculated for the completed months on proportionate basis
14. Contribution under SDBS is made by?
both GDS and Department
15. The monthly contribution to SDBS Shall be ______from
both side i.e department contribution and the GDS contribution.
Rs 300
16. What happens to the accrued accumulation under SDBS
when GDS is appointed in the department against any regular departmental
post?
Accumulated amount will be transferred to newly opened NPS
account belonging to the new post
17. Who is the nodal agency for handling sdbs?
PFRDA
18. To whom are the applications received from GDS for
sdbs are sent by the postal divisions for enrolment?
CRA
19. Fee for duplicate PRAN card for the first time is
Rs 20
20. Fees for duplicate PRAN card for the each subsequent
transaction is
Rs 30
21. The register SDBS - 2 is to be preserved for
permanently
22. The funds
accumulated under SDBS scheme, shall be administered by the_
NPS trust
23. If the GDS is
discharged from service what are the benefits he is going to get it
under SDBS?
Can Withdrawal 60% of accumulation and has to invest 40% for
purchase of annuity
24. Application for exit from SDBS is to be made in form
SDBS- 6
25. If the GDS is resigns from service, what is the amount he will get under SDBS ?
Can withdraw 15% of accumulation and as to invest 85% for
purchase of annuity
