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of <h1>Central Government Employees Can Save Taxes with New National Pension Scheme Tier II, 2020; Three-Year Lock-In Period.</h1> The National Pension Scheme Tier II- Tax Saver Scheme, 2020, established by the Central Government under the Income-tax Act, 1961, allows Central Government employees to contribute to a specified account, managed by the Pension Fund Regulatory and Development Authority. The scheme mandates a minimum initial contribution of one thousand rupees and subsequent contributions of at least two hundred and fifty rupees. Contributions are subject to a three-year lock-in period, during which they cannot be assigned, pledged, or hypothecated. The scheme is effective from its publication date in the Official Gazette.
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