NPPF OPEN UNDERGRADUATE 
                    SCHOLARSHIP 2022 
                                        th           th
              Application submission: 13  March to 20  
                             April 2022. 
              Head Office, National Pension and Provident Fund, 
                           Thimphu, Bhutan 
                            www.nppf.org.bt 
         
      
      
      
      
      
     COMPANY PROFILE 
     The National Pension and Provident Fund (NPPF) was established 
     as  an  autonomous  agency  on  March  30,  2000  to  manage  the 
     pension and provident fund schemes of civil servants, state-owned 
     corporation and armed forces. On 1 July 2002, the Government 
     formally launched the National Pension and Provident Fund Plan 
     (NPPFP) through the Executive Order to provide income security to 
     the  members  on  retirement  and  permanent  disability.  It  also 
     provides  social  support  to  the  family  members  in  the  event  of 
     demise of a member while in service or after retirement. 
     The foundation of formal retirement income security was initiated in 
     1962  with  gratuity  scheme  and  the  Government  Employees 
     Provident  Fund  (GEPF)  in  1976  covering  the  government 
     employees and armed forces. 
     In the face of modernization and rapid socio-economic development, 
     the retirement scheme became insufficient. Considering the overall 
     welfare of government employees during old age, His Majesty the 
     Fourth Druk Gyalpo, His Majesty Jigme Singye Wangchuck issued 
     the Royal Kasho to the Ministry of Finance and Royal Civil Service 
     Commission  in  1998  to  review  the  existing  retirement  benefit 
     schemes. Accordingly, the Government Working Committee (GWC) 
     with technical support from the UNDP, ADB and World Bank carried 
     out study which resulted in the separation of GEPF operation from 
     RICBL and the establishment of NPPF. 
     The NPPF, entrusted by the Executive Order has two important 
     core business functions consisting of: 
     (i) Scheme Administration; and 
     (ii) Fund Management. 
     The dual function has broadened its operational scope to include 
     retirement  planning  and  loan  services,  in  addition  to  its  basic 
     services,  such  as  contribution  collection,  recordkeeping,  and 
     benefits payment. 
      
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          NPPF OPEN UNDERGRADUATE SCHOLARSHIP 
          The NPPF is pleased to announce this prestigious undergraduate 
          scholarship program to identify and develop future leaders/experts   
          with  the  required  knowledge  and  expertise  in  Pension  and  PF 
          related  areas.    Candidates  for  the  Year  2021  cohorts  who 
          completed their Class XII Board Exams in 2022 only will be 
          eligible for this scholarship and will exclude students taking repeat 
          examination.   
             1. Objective and Rationale:  
          To develop a few critical masses of future leaders for key positions 
          of the NPPF by the best and the brightest talents to further take 
          NPPF  forward  as  a  dynamic  corporate  entity.  This  NPPF 
          undergraduate Scholarship will provide a platform to nurture the 
          intellectual and promote creativity and innovation within the NPPF 
          to gain its competitive edge. 
          In order to harness and tap the enormous potential of Bhutanese at 
          a young age, the NPPF proposes one prestigious undergraduate 
          scholarship after completion of Class XII from recognized Higher 
          Secondary  Schools  both  from  in-country  and  overseas.   This 
          scholarship awardee will be sent to pursue undergraduate studies 
          in  the  world  top  universities.    This  cost  of  investment  for  their 
          undergraduate  studies  would  be  well  spent,  considering  the 
          contribution they would offer to the NPPF after their studies from a 
          world top university. 
             2. Field of study  
          To attract the best candidates in the NPPF after the completion of 
          Cl XII / Higher Secondary School, the successful candidate would 
          be offered a prestigious scholarship to pursue undergraduate study 
          in Actuarial Science in Canada / Singapore / UK / USA, if possible, 
          they will specialize in Pension and PF related studies. The number 
          of undergraduate scholarship slots is only one and the successful 
          candidate is expected to undergo the study in one of the world’s top 
          universities. 
             3. Criteria   and     process     for    selection     of 
                undergraduate scholarship 
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     Given that the candidates will be sent to a world top university, huge 
     financial amount invested and other related costs, coupled with time 
     and efforts being consumed for selection of candidates, and high 
     expectations that this scholarship awardee will bring value addition 
     to the NPPF , it is important to have a robust selection system based 
     on impartiality and meritocracy to derive high dividends from it.  The 
     following are the three stages of selection process for NPPF open 
     undergraduate scholarship: 
     Stage  1:  Shortlist  candidates  based  on  latest  (trial  or  final) 
     academic results (minimum score of 70% (Min 55% in English plus 
     three best subjects consisting of Economics / B. Mathematics / 
     Science with Mathematics and one best subject)).  
     Class XII academic results to be eligible for written tests:  
     While academic top performance is one of the predictors of the 
     quality of candidates, above a certain cut-off point, academic results 
     alone  cannot  truly  differentiate  among  candidates.     Hence, 
     academic results are not the only factor to measure the potential 
     and abilities of the candidates. In view of this, the minimum criteria 
     required for shortlisting for written examinations is minimum of 70% 
     in the academic achievements in Class XII or equivalent from a 
     recognized Higher Secondary School from Bhutan or overseas. 
       a.  Top 70 candidates based on the academic score will be 
         shortlisted for psychometric test. 
       b.  The  candidates  appearing  for  the  psychometric  test  is 
         required  to  pay  Nu  500/-  (Nu.  five  hundred  only)  for 
         administrative / logistic and other related cost). 
       c.  Top ten candidates will be further shortlisted for selection 
         interview (Viva-voce) based on the scores obtained in the 
         psychometric  test  (25%  weightage)  and  academic 
         performance  in  BHSEC/Board  Exams  (50%)  and  its 
         equivalent from overseas. 
     Stage 2: Psychometric Test results: 
     Written test - Psychometric test results.  
     Each  applicant  will  be  required  to  appear  for  a  psychometric 
     test.   The  test  will  be  designed  generally  to  test  the  applicants’ 
     general  knowledge,  communication  skills,  and  numerical  /  data 
     interpretation  abilities  and  to  provide  a  well-rounded  view  of 
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