S.O.2473(E).--In exercise of the powers conferred by section 17 A of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby makes the following Scheme further to amend the General Insurance (Employees') Pension Scheme, 1995, namely:-
1. (1) This Scheme may be called the General Insurance (Employees') Pension Amendment Scheme, 2010.
(2) Save as otherwise provided in this Scheme, the provisions of this Scheme shall be deemed to have come into force on the 1st day of January, 2004.
2. In the General Insurance (Employees') Pension Scheme, 1995 (hereinafter referred to as "the said Scheme"), in paragraph 2, in clause (I), with effect from the date of publication of this Notification, after sub-clause (iii).the following sub-clauses (iv) and (v) shall be inserted, namely:-
"(iv) Widowed or divorced or unmarried daughter, till the date of her marriage or re-marriage, as the case may be, or the date on which her income exceeds the dependency criteria as may be specified by the Corporation or a Company from time to time, in this regard;
(v) Parents who were wholly dependent on the employee, as per the dependency criteria as may be specified by the Corporation or a Company from time to time in this regard, when he or she was alive provided the deceased employee had left neither a widow nor a child, or had left behind only a widow who subsequently got remarried:
Provided that the eligibility of a member of the family to family pension at any particular point of time shall be determined in the order in which his or her mention is made in this clause.".
3. In the said Scheme, in paragraph 3,-
(A) in sub-paragraph (4), for the words "after the notified date; or", the words, figures and letters "after the notified date but before the 1st day of January, 2004; or" shall be substituted;
(B) after Note (1), the following Note shall be inserted, namely:-
"Note: (2) Employees joining the service of the Corporation or a Company, as the case may be, on or after the 1st day of January, 2004, and accordingly excluded from the applicability of this Scheme in terms of sub-paragraph (4), shall be covered under a New Pension Scheme to be framed by the Corporation or a Company, as the case may be, on the lines of a defined contribution pension system indicated for the new recruits in the Central Government Service vide Notification F.No. 5/7/2003 - ECB & PR dated the 22nd December, 2003 of ECB & PR...