Pension Fund Regulatory and Development Authority (PFRDA) has released important updates on the NPS-Lite-Swavalamban Scheme. This notice carries critical information regarding subsequent contributions, account migrations, and effective account maintenance for all subscribers.
The NPS-Lite-Swavalamban Scheme was primarily designed to ensure income security in old age for economically disadvantaged sections of society. In light of the launch of the Atal Pension Yojana (APY) in 2015, new enrolments for the scheme were discontinued. However, those registered during 2010 to 2015 were permitted to continue. Those aged between 18 to 40 were given an option to migrate to APY.
Currently, subscribers can deposit their contributions through their underlying PoP-NPS-Lite/Aggregator or contribute online through the eNPS portal. It is highly encouraged that all subscribers ensure their account details are up-to-date. Those above 40 can exit the scheme if they no longer wish to continue by submitting a premature exit request.
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
B-14/A, CHHATRAPATI SHIVAJI BHAWAN, QUTAB INSTITUTIONAL AREA,
KATWARIA SARAI, NEW DELHI – 110 016.
PUBLIC NOTICE
Subscribers registered under NPS-Lite-Swavalamban Scheme
1. NPS-Lite-Swavalamban scheme was launched in the year 2010 to provide old-age income security to economically disadvantaged sections of society. Given the launch of the Atal Pension Yojana (APY) in 2015, fresh enrolment under the NPS-Lite Swavalamban scheme was ceased except for the enrolment of Gramin Dak Sevaks of the Department of Post(DoP). The existing subscribers registered under NPS-Lite-Swavalamban Scheme during period 2010 to 2015 were allowed to continue under the scheme, and also, the subscribers between the age of 18 to 40 years were given option to migrate to APY.
2. The exiting subscriber under NPS-Lite -Swavalamban Scheme are hereby informed as:
(a) Subscribers can deposit subsequent contributions through their underlying PoP-NPS-Lite/Aggregator or can contribute online by logging into eNPS portal at https://enps.nsdl.com/eNPS/InitialExistingUser.html.
(b) Subscribers between the age of 18 to 40 years can migrate to APY to avail the benefit of guaranteed pension. For migration of account the subscribers may contact the bank/post office where the savings bank account is held by them.
(c) Subscribers above the age of 40 years who do not wish to continue under the scheme can exit by submitting the premature exit request/form to the underlying PoP-NPS-Lite/Aggregator.
3. The subscribers are advised to update/add/modify the bank account details, contact details and/or nominee details, as required in their respective PRAN through their underlying PoP-NPS-Lite/Aggregator to ensure effective maintenance of their account.
4. The subscribers can check the statement of the transaction (SOT) by login into https://npslite-nsdl.com/ or by downloading the NPS-Lite mobile App. The subscribers for more details can visit the PFRDA’s website (www.pfrda.org.in) or call to toll-free no 1800 110 908
