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New Defined Contribution Pension Scheme

New Defined Contribution Pension Scheme was started during the year 2010-11 vide Government Office Memorandum No. FEM(PC)7/2007/Pt-II/66 dt. 24.03.2010 with effective date from 01.04.2010. The scheme is applicable to all regular Government employees who entered service on or after 01.04.2010 but for All India Service personnel who are in the State Government of Meghalaya, it is applicable from 01.01.2004. The Government employees have to make a contribution of 10% on his/her basic pay plus Dearness Allowances which is deductable from his/her monthly salary bill every month by the DDO and the Government will make an equal matching contribution. The fund is transferred regularly to the Pension Fund Manager.