The Chhattisgarh Pension Fund Act, 2025

1. (1) This Act may be called The Chhattisgarh Pension Fund Act, 2025.
2. (2) It extends to the whole State of Chhattisgarh.
3. (3) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint and different dates for different provisions may be appointed.

In this Act, unless the context otherwise requires,-

1. (a) "Act" means the Chhattisgarh Pension Fund Act, 2025;
2. (b) "Budget" means the annual financial statement presented by the State Government detailing the estimated receipts and expenditures for the Financial Year;
3. (c) "Consolidated Fund" means the Consolidated Fund of the State of Chhattisgarh;
4. (d) "Finance Department" means the Finance Department of the Government of Chhattisgarh "Fund Manager" means a financial institution appointed by the Government;
5. (e) "Government" means the Government of Chhattisgarh;
6. (f) "Pensioner" means a retired employee of the State Government who is entitled to receive a pension;
7. (g) "Pension Payments" means the financial obligations of the Government towards its pensioners;
8. (h) "Pension Fund" means the fund established under this Act for the purpose of managing pension payments;
   • (i) "Year" means the Financial Year.

A Pension Fund shall be constituted by the Government for meeting future obligations towards its pensioners.

The fund shall be utilized for meeting the payment of future pensionary and other retirement obligations.

The Fund shall be held on behalf of the Governor, by the Secretary to Government in the Finance Department.

1. (1) The Government shall build up the Fund Corpus for the payment of future Pension payments. It will be kept in a separate fund under public account.
2. (2) An amount not exceeding five percent (5%) of the total pension payments made in the preceding Financial Year shall be invested annually in the Pension Fund. Provided that, subject to the availability of resources and the financial position of the Government, the State may, in exceptional circumstances, transfer an amount in excess of the said limit to the Pension Fund, as may be deemed necessary;
3. (3) In order to facilitate the transfer of the total amount of contribution to the Pension Fund, the Government shall make suitable budgetary provision under the Revenue Expenditure Head "2071 – Pension and other retirement benefit – 01 - Civil – 797-Transfer to/from Reserve Fund and Deposit Account- Pension Fund".

1. (1) The Fund shall be administered and managed by the Fund Manager, the appointment of Fund Manager and guidelines for investment shall be governed by the rules, notified under this Act, to be approved by the Government.
2. (2) The Fund Manager shall maintain proper accounts and other relevant records of the Fund.

1. (1) The Fund shall be used to meet the requirements of pension payments by the Government.
2. (2) In the event that the growth in pension payments exceeds twenty percent (20%) in any Financial Year, the excess over and above the twenty percent (20%) threshold may be met from the Pension Fund. The Government shall continue to fund upto twenty percent (20%) growth in pension payments from the Consolidated Fund of the State.
3. (3) The Government may, if it considers necessary in any Financial Year, utilise an amount not exceeding ten percent (10%) of the annual returns on investments of the fund accrued in the immediately preceding financial year towards pension payments.

1. (1) The balance available in the Fund shall be invested in Government of India securities, Special Securities of Government of India, Treasury Bills, State Government Securities or other approved securities as per the procedure laid down for such investments, in the rules notified under this Act.
2. (2) On maturity of the securities, the proceeds will be collected and credited to the account or reinvested in accordance with the pattern outlined above based on instructions received from the Government.
3. (3) The Fund Manager shall arrange to redeem the securities on maturity. In case of premature disinvestments to meet the payments on account of the claims to be paid, the Fund Manager shall decide on the securities to be liquidated and sell the securities at the ruling price and credit the amount realized to the Government account.
4. (4) If these securities are in loss, the Fund Manager may, in consultation with the Government, decide on the securities to be liquidated.

1. (1) The Fund Manager shall monitor the growth in revenue and pension payments on an annual basis and report the findings to the Government.
2. (2) Any excess growth in pension payments beyond twenty percent (20%) or percentage growth in pension higher than the percentage growth in revenue receipts shall be documented and the amount to be transferred from the Fund shall be specified.
3. (3) The Department shall prepare an annual report detailing the status of the Fund, including contributions, investments, utilization, and any additional provisions introduced.

Audit of the Fund The accounts of the Fund shall be audited annually by the Accountant General of the State in the normal course.

Power to make rules

1. (1) The Government may, by notification in the Official Gazette, make rules, regulating all matters connected with or ancillary to the custody of payment of money into, and the withdrawal of money from the Fund, for carrying out the purposes of this Act.
2. (2) Every rule made by the Government under this Act shall be laid before the State Legislature as soon as possible.

The Government shall issue instructions relating to the provisions of the Scheme as may be considered from time to time to enable smooth functioning of the Scheme. In case of any difficulty in the operation of any provision of the Scheme, the Government may, issue clarifications or make amendments in the rules.