Bhubaneswar:
A comprehensive workshop on the implementation of the New Pension System (NPS) for the employees of Urban Local Bodies (ULBs) was conducted today at the Conference Hall of the State Urban Development Agency (SUDA) in Bhubaneswar.
The training program aimed to enhance the understanding of the NPS framework among key financial personnel of ULBs, ensuring effective implementation and management of pension schemes for municipal employees.
The event saw the active participation of accountants from 40 Urban Local Bodies, including 5 Municipal Corporations and 35 Municipalities across the state. This diverse representation highlighted the state’s commitment to equipping ULB staff with the knowledge required to efficiently manage the pension-related financial systems, ensuring long-term financial security for all municipal employees.
The workshop was inaugurated by Debasis Singh, Director, Municipal Administration, who emphasized the importance of the New Pension System in ensuring a sustainable and transparent pension mechanism for ULB employees.
He urged participants to leverage the training to address any challenges in NPS implementation and to ensure seamless coordination with the Directorate of Treasury and Inspection.
Sikha Biswal, Financial Advisor, delivered an insightful session on the key aspects of the NPS, focusing on the critical role of ULB accountants in managing employee contributions and ensuring proper fund management.
She elaborated on the financial intricacies of the system, encouraging the participants to adopt a proactive approach to learning and applying the knowledge gained.
Rabindra Kumar Sahu, Project Director of SUDA, in his address, underscored the importance of capacity building in ULBs for the smooth operation of the NPS.
He emphasized that proper training would lead to better financial management and accountability, which is crucial for the success of the pension system.
A detailed technical session was led by Nishikant Mishra, Joint Director of the Directorate of Treasury & Inspection, who covered the operational aspects of NPS.
He walked the participants through the step-by-step procedures involved in employee registration, contribution management, fund transfers, and compliance with regulatory norms.
Biswajit Prusty, Assistant Financial Advisor, further elaborated on the auditing and reporting requirements, stressing the importance of accuracy and timeliness in financial disclosures related to pensions.
Tomorrow there will be the workshop for the rest ULBs here at the same venue.
The workshop also featured interactive Q&A sessions where participants could seek clarification on practical challenges faced during the NPS implementation.
The event provided a valuable platform for knowledge sharing and for building a common understanding of the responsibilities and processes associated with the NPS among ULB accountants.
This workshop marks an important milestone in strengthening the financial management capabilities of Urban Local Bodies in Odisha, aligning with the state’s broader goal of ensuring efficient governance and welfare of municipal employees.
The successful implementation of the NPS will ensure a secure and dignified retirement for thousands of ULB employees across the state.