NPS – PFRDA circular on Advisory Fee under PFRDA (Retirement Adviser) Regulation 2016
Extension of benefits of ‘Retirement Gratuity and Death Gratuity’ to the Central Government employees covered by new Defined Contribution Pension System (National Pension System)
PFRDA has provided and option to compare pension amount between Family Pension and NPS annuity before processing Family Pension cases on Death / disability of subscriber
PFRDA guidelines in processing family pension of deceased subscriber
One-time portability without any tax implication has been allowed to the subscriber for shifting from recognized provident fund to NPS
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
Maximum deduction for contribution made by Employees in NPS is Rs. 2 lakh – Limit for deduction for Employer’s contribution is 10% of Basic Pay + DA
In the case of death of NPS subscriber entire accumulated pension wealth (100%) would be paid to the nominee/legal heir of the subscriber and there would not be any purchase of annuity/monthly pension.
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
NPS subscribers of Central Government are 14.1% of the total subscribers while that of the State Governments are 24.9%. The NPS subscribers under NPS Lite constitute 39% while under APY 17% of the total subscribers.
Minister’s reply in Loksabha on the New Pension Scheme (NPS). Minister explains the salient features of the NPS.
PFRDA has issued a Circular Revised Guidelines in respect of Contribution Collection and Service Charges for opening NPS accounts for NRls
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).
7th CPC has analysed the National Pension System (NPS) and made suggestions in the report. The Commission recommends that more transparency in investments needed. 7CPC also Recommends that queries to be answered on priority.