The petitioner further said in NPS, pensioners are not allowed a wide choice of fund manager and asset class.
eNPS is an online platform provided by NPS Trust for enabling individuals to open his/her Individual Pension Account under NPS (Tier-I & Tier-II) and also facilitate the new or existing subscribers to make initial or subsequent contributions respectively to their Individual Pension Account under NPS using net banking and debit/credit cards.
A partial withdrawal of up to 25% of the contributions made by the subscriber is allowed for important reasons such as marriage or higher education of children, construction of house, critical illness etc
PFRDA Press Release states that number of NPS subscribers of the Central Govt. which crossed the figure of 16 lacs. Total assets pertains to NPS subscribers who are are Central Government Employees crossed Rs. 46,000 Cr in March 2016
In the case of death of NPS Subscriber, entire matuity amount has to be paid to nominee or legal heir of the NPS Susbscriber without any need to purchase Annuity
Minister’s reply in Loksabha on the New Pension Scheme (NPS). Minister explains the salient features of the NPS.
Government of India under National Pension System Trust enables opening online account. The procedure for opening such account is given in this article. eNPS facility cannot be used for enrolment under Atal Pension Yojana (APY).
Under the Deferred withdrawal facility, the subscribers at the time Of exit from National Pension System (NPS) can exercise an option to defer the withdrawal of eligible lump sum withdrawal and stay invested in the NPS
Total number of Subscribers in National Pension System crossed one crore. Partial withdrawal upto 25% of subscriber’s own contribution for specific purposes like higher education of children, marriage of children, construction of house and specified illness have been allowed to the NPS subscribers.
Apart from demand for gratuity to NPS Employees BPMS also demands One time relaxation & removal of ceiling for Compassionate Appointment
PFRDA has released key details of NPS for NRIs following the decision taken by RBI to allow Non-resident Indians to subscribe in National Pension System of India which is popularly known as NPS. This may be a win-win situation for both for NPS in terms of volume it can achieve and for NRIs as they get a product that provides good long term investment cum retirement security.
NRI enrolled in NPS can repatriate Pension or Lum-sum amount which will be paid in Indian Currency
PFRDA stresses the need for uploading pending NPS contributions before processing withdrawal / exit request from NPS
PFRDA clarifies that simplified procedure for withdrawal from NPS given in earlier Circular dated 25.02.2015 applicable to previous applications also
Pension Regulatory has issued a Notification and was published in Gazette regarding NPS exits and withdrawals