As per the notice issued by Estt Section BSNL, a special meeting was held on 9th Floor Conference Hall, BSNL Corporate Office on 09/12/2025 at 1100 Hrs. NOTICE <<<>> REVISED NOTICE <<<>>
This meeting was chaired by Shri S. P. Singh PGM Estt/ Admin BSNLCO, Shri. Rajeev Singh PGM CA BSNLCO, Shri. Nelli Ram Krishna, PGM Legal BSNL CO, Shri Ram Kishan, DGM Estt and Shri. Sanjeev Kumar AGM Estt.
From SNEA a delegation of SNEA CHQ comprising Shri. M. S. Adasul, GS, Shri. Arvind Pal Dahiya, JSC CHQ, Mrs. Anu Agrawal, CS BSNL CO, Shri. Vinay Tyagi, CS CNTX-N and Shri. K.K. Yadav, CS ALTTC participated in this meeting.
Shri. Dhruv Seth, AGM Sales & Mktg. LICPFL and Shri. Tavneet Singh, Sr Manager, M/s Protean gave presentation on shifting from SPS to NPS, provided an overview of the NPS structure and clarified the questions raised by association representatives enabling smooth transfer from existing SPS to NPS involving minimal financial expenditure from employee and employer side. Both of them explained that NPS involves multiple intermediaries, including the Central Record Keeping Agency (CRA), Points of Presence (PoPs) for enrolment, and Pension Fund Managers (PFMs) for investment. LIC, as one of the PFMs, indicated that migration from SPS to NPS would not be problematic if BSNL opts for LIC as the PFM. Copy<<<>>
Important Points of the presentation:
- The initial one-time transfer from SPS to NPS would be tax-free.
- Employees will have the option to continue in SPS if they choose not to migrate to NPS, giving them flexibility.
- For employees with existing PRANs, their accounts will be migrated under the Corporate head.
- The Fund Manager will initially be fixed for one year, after which employees can choose to manage their accounts individually.
- Various charges such as fund management fees, CRA charges, trust charges, and account management fees, will be negotiated and finalized during the scheme finalization to ensure that in the interests both BSNL and the employees are taken care of.
- Explained the differences between LICPFL and other Private/Govt pension funds.
- The long-term returns under NPS are around 13%, whereas returns under other funds SPS are presently about 5 to 8%.
- Representatives also replied FAQs consolidated by Estt Section. Copy<<<>>
After presentation by LICPFL, PGM Estt/Admin asked opinion of all on this proposal.
SNEA informed that we have already conveyed in last meeting that as it is optional and useful for BSNL Recruits, it should be implemented at the earliest, We also added that LIC being PSU is best option instead of any other private institutions. The leaders from all Unions and Associations present in the meeting given green signal to go ahead with introduction of NPS as early as possible.
PGM Estt informed that a proposal will be prepared for getting in-principal approval from Management Committee /BSNL Board for switching from SPS to NPS with LICPFL.
SNEA requested for early change over and possibility from start of new Year 2026. But it was reported that the interest on SPS will be charged by end of March 2026 on yearly basis and if shifted before that individuals may lose the yearly interest. It was also reported that it needs some time to complete administrative process of getting approval of Management Committee/ Board and hence it was agreed by all to complete all formalities before March 2026, call options in March 2026, so that shifting from SPS to NPS will be effective from new Financial Year 2026-27.
SNEA also requested management to arrange one online meeting for all executives to clear their doubts before actual shifting and after calling for options from executives for changes over from SPS to NPS and the same has been agreed by PGM Estt.
The meeting concluded with thanks and unanimous understanding that Introduction of NPS is good option and BSNL should go ahead signal for changeover to NPS with LICPFL under Corporate Plan by giving options to individuals.
