Finance : Compare UPS, NPS, and OPS pension schemes. Understand their features, benefits, drawbacks, and eligibility criteria to choose the ...
Finance : This article explores the NPS tax benefits, its features, and how it compares to other popular tax-saving instruments. Additionall...
Finance : Summary: The National Pension System Vatsalya (NPS Vatsalya) scheme, launched by the Ministry of Finance, aims to foster early sa...
Corporate Law : Learn how to calculate EPS pension, eligibility criteria, and the different types of pensions available under the Employee Pension...
Income Tax : Understand the potential of Section 80CCD New Pension Scheme and maximize your tax savings. Learn about deductions for employees a...
Corporate Law : The National Pension System (NPS) offers flexible, low-cost pension options with digital accessibility, aiming to expand coverage ...
Corporate Law : Stakeholders and public can provide feedback on draft Unified Pension Scheme Regulations, 2025, under NPS for Central Government e...
Corporate Law : Discover the 'Vatsalya' pension scheme for minors launched by the Ministry of Finance. Learn about contributions, conversion optio...
Corporate Law : Explore vital role of pensions in securing financial stability during retirement, as discussed by PFRDA Chairperson. Learn about N...
Corporate Law : Explore the Government's plans for offering a guaranteed pension under NPS and the consideration of reverting to Old Pension Schem...
Income Tax : ITAT Ahmedabad held that PFRDA Act, 2013 doesn’t prescribed any due date for payment of employee’s contribution to National Pe...
Income Tax : In the case of G.K. Reddy vs. DCIT, Madras High Court has directed the Income Tax Department to lift the attachment of a pension a...
Corporate Law : PFRDA mandates Aadhaar-based authentication for NPS transactions in government offices, enhancing security with two-factor login f...
Finance : Unified Pension Scheme under NPS offers assured payouts to Central Government employees, effective April 1, 2025, with flexible co...
Corporate Law : Govt clarifies that a daughter’s name cannot be deleted from a pensioner’s family record, with eligibility for family pension ...
Corporate Law : The Department of Pension announces a Dearness Relief hike to 53% for Central Govt pensioners and family pensioners, effective Jul...
Corporate Law : PFRDA Circular mandates that annuity cancellations for NPS subscribers can only occur during the free look period, effective immed...
NPS is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. Under the NPS, the individual contributes to his retirement account. NPS is designed on Defined contribution basis wherein the subscriber contributes to his own account. The benefit subscribers ultimately receive depends on the amount of contributions, the returns made on the contributions and the period of contributions.
About National Pension System 1. What is National Pension System? National Pension System (NPS) is a pension cum investment scheme launched by Government of India to provide old age security to Citizens of India. It brings an attractive long term saving avenue to effectively plan your retirement through safe and regulated market-based return. The Scheme […]
Contribution made to the NPS Tier-I account is eligible for tax deduction under the Income Tax Act, 1961. An additional tax rebate of Rs.50000 is also allowed for contributions made to NPS Tier-I under Section 80CCD (1B) of the Income Tax Act, 1961.
Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new business will also be allowed to make partial withdrawals from his contributions. Other terms applicable to partial withdrawals will remain unchanged.
Employees’ Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner.
Pension Fund Regulatory and Development Authority prescribes New NPS Subscriber Registration Form – Additional Mandatory Requirements
The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:
The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber.
Clarification to pensioners about the hike in exemption limit to Rs 3 Lakhs from Minister of State for Finance Shri. Shiva Pratap Shukla by his letter dated 14th November 2017.
These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017.
