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.
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
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.
PFRDA states that due to non availability of up to date information such as mobile number/ email id of the subscriber information is not reaching them in time and based on the requests received an additional feature in addition to the existing system of updating personal details of subscribers, an online facility to modify/ update the subscribers details in CRA has been provided.
PFRDA bill meant for regulating New Pension Scheme passed in Parliament with ammendments – Assured Return in NPS provided in certain schemes
To keep a tighter check on investments, the pension regulator has decided to appoint auditors for the pension fund managers (PFMs) and schemes of the National Pension System (NPS). Fund managers will also be expected to make full disclosure of scheme-wise investments on their websites.