NPS Committee invites Suggestions for streamlining the implementation of the National Pension System for Central Government employees
Extension of scope of Additional Relief on death/disability of Government Servants covered by the New Defined Contribution Pension System(NPS).
No more physical application to open NPS Account if Aadhaar identity produced – PFRDA circular
Union Minister of State Reply – No proposal to introduce any new pension scheme for retired Central Government employees
New Pension Scheme deposits earns more than 10% return for the past 5 Years. This is more than any other provident fund scheme in which interest hovering around 8%
Problems of NPS employees were taken well in 7th Pay Commission negotiations which resulted in Govt’s decision to form a Committee to look in to NPS related issues – NJCA Clarifies
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
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.
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.
DOPT has issued draft guidelines for All India Services Officers for Counting of past service, admissibility in old pension scheme, new pension scheme, pay protection and leave accumulation etc.
Department of Pension has issued revised format for printing Identity Card incorporating Aadhar Card details to existing Pensioners as well as persons retiring under new Pension scheme
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