The Modi Government has approved a newly introduced pension scheme called Service Discharge Benefit Scheme (SDBS) for Gramin Dak Sevak in the department of Post. The SDBS will be regulated by Pension Fund Regulatory & Development Authority (PFRDA).
The existing regularly appointed Gramin Dak Sevaks on the date of notification of the Service Discharge Benefit Scheme (SDBS), shall have the option either to switch over to the new Service Discharge Benefit Scheme (SDBS) or to continue in the existing Severance Amount Scheme.
In case they opt to join the Service Discharge Benefit Scheme for GDS, the Severance amount accrued till the date of their joining, @ Rs.1500 for every completed year of service till their enrolment will be added to the accumulated contributions at the time of discharge for annuitization.
SDBS
means
Service Discharge Benefit Scheme
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