NPS – Important announcements by PFRDA
Important Announcements and Approvals in Board Meeting of PFRDA – Ministry of Finance Announcement
Important Announcements and Approvals in Board Meeting of PFRDA – Ministry of Finance Announcement
Recently, the pension fund regulator PFRDA allowed the NPS (National Pension System) subscribers to withdraw the money for purposes that include higher education and investment in new business.
National Pension System (NPS) is an easily accessible, low-cost, tax-efficient, flexible and portable retirement savings account.
There is a proposal to raise the equity exposure in NPS to 75 percent and PFRDA has floated a concept paper on this. Contractor said that this is still open for public comments and that it will finalise it once they are received.
Partial Withdrawal under NPS – Can draw partial amount after 3 years – 25 % after 10 years of contribution – 3 times during his/her service.
Earlier, subscribers under the pension scheme (NPS) were permitted to withdraw accumulations not exceeding 25 percent of the contributions made by him or her after 10 years.
NPS Subscribers can withdraw up to 25% of accumulated Pension Wealth for the purpose of Education, Marriage, expenditure towards medical treatment for listed illness etc
Awareness about benefits of NPS – PFRDA conducts the Workshop with Corporates to create an awareness about the features, benefits and the process of joining National Pension System (NPS)
PFRDA – Exits and Withdrawals under the NPS (First Amendment) Regulations, 2017 – Gazette Notification
NPS retirement Advisers can register with PFRDA online now – PFRDA smoothens the Process of Registration of Retirement Advisers
PFRDA – Transfer of amount from recognised Provident Fund / Superannuation fund to National Pension System (Applicable for the individual employees)
NPS – PFRDA Circular Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year