ASSOCIATION OF SCIENTIFIC & TECHNICAL OFFICERS OIL AND NATURAL GAS CORPORATION LTD., NEW DELHI Registered with the Registrar of Societies,U.P., Lucknow, Registration No. 172 (1967-68) R. P. Pandey President CWC Mob.: 09435744241 V. Natarajan General Secretary- CWC Mob.: 09428332019 -2- As per the BOT resolution dated 3t/A3/L4 ASTO requested management to release the payment of interest at 9.5o/o for transit period of 20 months I i.e. fund reckoning date 31,03.12to scheme rollout date 29.11.13J. As per the BOT resolution dated 31./03/14, trustees [representing ASTOJ has also raised the concern for non incorporation of year wise break up of employer contribution in form-16 issued by ONGC for FY L3-L4. The DGM[F&A)- Head trust has informed the BOT that the matter was discussed with ICE Team several time but correction in form - 16 was not made due to technical reasons. On this issue Chairman Trust advised Head PRBS Trust to invite I/C ICE to BOT meeting whenever, issues related to ICE system are involved. In the 94th BOT PRBS meeting on 26/09/201,4, the B0T has approved for incorporation of option to retiring employees of ONGC to avail the benefit of Varishth Pension Bima option in PRBS Scheme (in addition to option A to H). This scheme provides for higher rate of return as compared to existing schemes, also there is provision of availing Loan facility (up to75o/o of subscribed amountJ after 3 years and Exit/surrender is also allowed after L5 years of subscription to the scheme. On this scheme the Trust would be issuing a detailed circular. ASTO has submitted that pension benefits available under NPS may also be extended to PRBS members for diversification of risk and optimization of returns as various investment options available under NPS. The Trust audited accounts for the year 2013-l-4 was approved by Trust on 26 20r4: Rs. Item FY 2013-1.4 FY 20t2-13 Income 2739A5A779 3,865,837,484 * Exnenditure 3,294,974,719 76,965,285 Amount transferred to Gen 570,862,765 2,662,085,495 Reserve Return on investment 8.56Vo 8.860/o *lncludes interest on employees fund a/c Rs. 3,238,0L6,493/There are 40-45 case pending in various courts across country for which Rs.60 Cr have been kept under the head ofGeneral Funds and further Rs.10 Cr. Have been kept for any court cases in future. An amount of Rs.35 Cr has been kept for pending claim settlement and any future changes in trust scheme. After keeping a margin of 0.060/o for any subsequent future adjustment in the interest the return for the financial year 20t3-14 has been calculated @ 8.50o/o and the implication is approx. Rs.324 Cr. ,r', fut#'Ao '-IRPPandey) President ASTO, CWC // Long Live ASTO Unit //