Amendment status not verified — confirm the current text below against the official source.
Registration into APGPS:- (1) The existing NPS subscribers shall exercise the option to subscribe to APGPS within the period as prescribed under the rules. (2) Employees, who join service after notification of this Act shall exercise the option to subscribe to the APGPS at the time of joining the service. (3) The detailed process and procedure for APGPS Registration shall be detailed in the Rules notified under this Act. (4) Subscribing to APGPS shall not affect in any way, the monthly contributions made to the NPS by the employees and the employer as per the relevant Rules and executive instructions in force. 6.Amount of Guaranteed Pension:-(1) Upon retirement of the employee, the purchase of the annuity plan from an Annuity Service Provider shall be made in accordance with the rules notified under this Act, duly utilizing the accumulated pension corpus in the individual pension account. (2) The Guaranteed Pension shall consist of the Annuity Component and the Top-up Component as specified below: (a) The Annuity Component is the annuity receivable by the APGPS subscriber based on the annuity plan selected as per sub-section (1) of section 6 above. (b) Top-up Component is the amount receivable by the APGPS subscriber, if any, so that the Subscriber receives Guaranteed Pension as specified under this Act. (3) Calculation of Guaranteed Pension and the Top- up Component shall be as prescribed in the rules notified under this Act. (4) The part withdrawals and the final withdrawal made by the APGPS subscriber shall result in a proportional reduction in the Guaranteed Pension as prescribed in the rules notified under this Act. (5) It shall be competent for the Government to withhold or withdraw the Top Up component or a part there from, in accordance with the prescribed rules.