Central government employees who are subscribers of the National Pension System (NPS) may get to choose their pension fund managers (PFM) and also decide on their investment allocation.
No more physical application to open NPS Account if Aadhaar identity produced – PFRDA circular
NPS – PFRDA circular on Advisory Fee under PFRDA (Retirement Adviser) Regulation 2016
Government is expected to take a decision soon on a proposal to allow its employees to raise their contribution in stocks as well as choose fund managers under the New Pension System.
PFRDA Clarification on Family Pension cases on Death/disability of subscriber.
PFRDA guidelines in processing family pension of deceased subscriber
Launch of NPS and current scenario – PFRDA concept paper
Life Cycle Funds provide options for decreasing risk factor with increase in age and high ceiling in equity for subscribers with more risk appetite
The Department of Financial Services (DFS), which functions under the finance ministry, is examining a proposal to bring all unregulated retirement funds under the purview of the Pension Fund Regulatory and Development Authority (PFRDA).
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.
Currently, NPS has more than 1.14 crore subscribers with total Asset Under Management (AUM) of more than Rs 1.09 lakh crore. NPS is a voluntary, defined contribution retirement savings scheme designed to enable the subscribers to save for their earning after retirement
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 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.
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.
Pension Fund Regulatory and Development Authority (PFRDA) has revised the fee from the existing Rs,100/- per subscriber to Rs.125/- per subscriber for its KYC verification services.