Section 28 in Statute of the Indian Institute of Engineering Science and Technology, Shibpur Statute, 2017
28. Provident fund and pension schemes.
- The Central Government shall assume the liability of pension in respect of those employees who retire after conversion of erstwhile Bengal Engineering and Science University to the Institute and after takeover, the existing employees of the Institute shall be given options regarding their service conditions and accordingly the pension liabilities shall be as under:-(i)The liability for payment of existing pensioners covered under State Pension Rules shall continue to be on the State Government. However, the liability for payment of pension for such employees who shall superannuate after the date of conversion of Bengal Engineering and Science University to the Institute will vest on the Central Government;(ii)Employees recruited before 1st January, 2004 who opt for Central Government administered pension scheme shall be governed by the Central Civil Services (Pension) Rules, 1972 and if they opt for the existing pension Scheme, i.e., State Government Pension Scheme shall be governed by the said provisions;(iii)Employees recruited on or after 1st January, 2004 and before 4th March, 2014 who opt for Central Government administered Pension Scheme shall be governed by the New Pension Scheme and if they opt for the State Government Pension Scheme shall be governed by the said provisions; and(iv)Employees recruited after 4th March, 2014, i.e., the date of conversion of the Bengal Engineering and Science University to Institute shall be governed by the New Pension Scheme.
