Major Change in Post Office Agent Commission

by Admin on November 20, 2011 · 9 comments · Post Office


Major Change in Post Office Agent Commission, 7.6 out of 10 based on 12 ratings

In the decision on  recommendations of Committee  for comprehensive Review of National Small Savings Fund (NSSF) dated 11th November, 2011,  It has also been decided that the commission on Small Savings to Post Office Agents will be changed as detailed below :-

 

 

 

 

 

  • Payment of commission on PPF schemes (1%) and Senior Citizens Savings Scheme (0.50%) will be discontinued. 
  • Agency Commission under all other schemes (except Mahila Pradhan Kshetriya Bachat Yojna (MPKBY) will be reduced from existing 1% to 0.50%.
  • Commission at existing rate of 4% will continue for Mahila Pradhan Kshetriya Bachat Yojana agents. 
  • Incentives, if any, paid by the State/UT Governments will be reduced from the commission paid by the Central government. 
 

 






Subscribe Updates, Its FREE!

Email ID:



+Admin


Admin November 20, 2011

Those who found this page were searching for:

{ 9 comments… read them below or add one }

balaji December 29, 2012 at 5:50 pm

comession to give agents this request

Reply

Lamba Guru Parshad April 8, 2012 at 2:38 pm

The finance ministry should at least spare p.o. m.p.k.b.y. agents from deducting their commission as it have already been cut from 5% to 4%.

Reply

AIMSA December 25, 2011 at 4:32 pm

AS PER THE GOVERNMENT / NSI ADVERTISEMENT ON 20 DECEMBER IN ALL LEADING NEWS PAPERS – “CONTACT SMALL SAVING AGENT FOR MORE INFORMATION”,

WHAT THE GOVERNMENT WANTs FROM SMALL SAVING AGENTS?

ITS REALLY SHAMEFUL.

Reply

venkat K. December 20, 2011 at 7:49 am

COMMITTIES MADE SUGGESTIONS AND GOVERNMENT IMPLEMENT, IT IS UNAVOIDABLE.

WHY DO NOT GOVT CAN LOOK IN TO THE LIVES OF POASTAL AGENTS WHO ARE THE MAIN PROCURERS OF MONEY FROM HOUSEHOLD TO THE POSTOFFICE BY CONTRIBUING MAXIMUM THEIR ENERTY, ESPECIALLY MPKBY WOMEN AGENTS , BY SHEDDING THEIR ENERGY TO EARN THEIR BREAD AND BUTTER.

THEIR FAMILIES ALMOST DEPENDS ON THE WOMEN INCOME ONLY, WHERE AS GOVT TRIES TO STAB ON THEIR STOMACHS WITH SUCH ACTIONS LIKE REDUCTION OF COMMISSION AND INCENTIVES.

GOVT SHOULD SAVE ATLEAST POSTAL AGENTS LIVES BY DOING MINIMUM JUSTICE.

The Agents have been made to suffer regular reduction of commission. The ever declining deposits under the small saving schemes have considerably reduced their earnings. Is the rising cost of living for others only and not for them. Even our MPs and MLAs have doubled their wages. There is regular increase in DA with respect to the price index. Then where is justice for those lacs of agents who have been giving service to the public who either can not afford to go to Deposit offices in person or those who are serving in such positions from where they can not spare time from their public duties. The Government should think of it. Keeping interest rates lower under small saving schemes and discouraging agency system is againt the human justice.

Reply

D A Bhatt December 13, 2011 at 3:29 pm

In PPF scheme operated by banks as well as post offices, service providing agents commission have been discontinued. In EPFO scheme there is no commission to service providers. In the similar manner in NPS scheme also commission given to POP-SP in the form of service charges must be totally removed and nullified. In NPS CRA charges are also very high and should be reduced by at least by 75%.

Reply

pradeep shah December 6, 2011 at 12:56 pm

Admin Staff,
Lots of scams have errupted in the country from harshad mehta’s time just by appointing standing committee matter has not resolved and he has to lost his life.Likewise many scams of crores of rupees has done govt did not bother to even sort out the problem and scammers are enjoying the fruits in our country where our laws are in depleted conditions and all are corrupted. Why then an ordinary men who earns his livelihhod by serving the public at large are crucified ? Big brokers having sufficient investment money are benefited?where a small person will go to match in this deteriorating govt policies. Concern Person must be aware that by wrongful reconnondation to gove magnets will not give him /them a SARPAV in the life,but GOD is looking all their malafied intentions and will have to pay in this life only by getting cruses of all the agents who depend on their livelihood.
Why Govt/ Recommendation committe make a review and make it commission to PPF/Sr.citizen schemes @ .50% in parallel to other post saving schemes this will some how give all agents a relief and can live peacefully instead of in distressed situation.

Reply

admin December 6, 2011 at 10:32 pm

I agree with you Pradeep. Govt. is slowly and slowly abolishing all small intermediaries from the financial market. Firstly, mutual funds distributors, then life insurance agents and now post office agents. This is democratic on papers but dictatorship in reality.
Admin

Reply

M P BHUKTIAR November 28, 2011 at 4:55 pm

The increase of interest rates from 8% to 8.2% and abolishing of 5% Maturity Bonus under MIS Scheme is resulting in a loss to the depositor. Also the inrerest rates under Small Saving Schemes are lesser as compared to Bank rates. Then why should one go for such schemes.
The Agents have been made to suffer regular reduction of commission. The ever declining deposits under the small saving schemes have considerably reduced their earnings. Is the rising cost of living for others only and not for them. Even our MPs and MLAs have doubled their wages. There is regular increase in DA with respect to the price index. Then where is justice for those lacs of agents who have been giving service to the public who either can not afford to go to Deposit offices in person or those who are serving in such positions from where they can not spare time from their public duties. The Government should think of it. Keeping interest rates lower under small saving schemes and discouraging agency system is againt the human justice.

Reply

admin November 30, 2011 at 9:41 am

I agree. If you look at various Govt. steps from the last 2-3 years, it’s gradually removing all the agents from the financial market. First mutual fund distributor commission was abolished, then insurance agent commission decreased and now post office. In the long run, such agents can not even survive in this market with such a low commission. And this will benefit big brokers only.

Admin

Reply

Leave a Comment

Previous post:

Next post: