News and information relating to new pension scheme which is also known as national pension system
Union Railways Minister Suresh Prabhu has urged Finance Minister Arun Jaitley to consider a long-pending demand of Railways employees to exempt them from the National Pension Scheme just like the defence forces.
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).
Before you pour money into the New Pension System (NPS), know the tax benefits offered by the scheme and the tax treatment of the income.
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
PFRDA has approved NPS Trust to deduct 0.01% of the AUM on daily accrual basis to meet its expenditure w.e.f 01.11.2015
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.
Sources confirm, the 7th Pay Commission may include recommendations for NPS revisions, and it is expected to be converted to family pension. Mr.KKN Kutty, Secretary General, Confederation of CGEs and workers expressed his happiness and said, if the Central Government accepts the proposal, a large number of Government employees would be benefited.
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.
As per PFRDA’s instructions Banks authorised to handle NPS will have to process application for APY (Atal Pension Yojana) with in 3 days (T+3 – transaction date plus 3 days)
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