The paper observes that India’s pension-sector (NPS plus APY), provides a flexible mode of oldage income-security not only for salaried employees but also to the common person. In the recent 5-years, 2017-18 to 2021-22, subscriber numbers have multiplied over three-fold led by APY...
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The total enrollments under APY Scheme have crossed 4.01 crore as on March 2022 out of which more than 99 lakh APY accounts were opened during FY 2021-22. The scheme had seen this tremendous success due to the active participation of all categories of Banks. Around 71% of the enrolments done by Public-sector banks, 19% by Regional Rural B...
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Circulars No. PFRDA/2022/08/SUP-CRA/02 -
21/04/2022
Pension Fund Regulatory and Development Authority (PFRDA) CIRCULAR No. CIR No.: PFRDA/2022/08/SUP-CRA/02 | Dated: 21 April 2022 To, Prospective APY Subscribers, APY-SPs & other stake holders for information Subject: eAPY – Ease of onboarding through Aadhaar The Government of India introduced Atal Pension Yojana (APY) for a pensi...
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1. INTRODUCTION A. Regulation 9 (3) (a) of the PFRDA (Pension Fund) Regulations, 2015, as subsequent amendments thereto reads that “a certificate of registration granted to a pension fund shall remain valid unless suspended or cancelled by the Authority”. B. Accordingly, these guidelines are being issued with the objective of opening ...
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National Pension System (NPS) is still not very popular amongst individual assessees for the simple reason that people are not familiar with the advantages of NPS. It is one of the best way of saving, steady returns & Income Tax benefits....
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Notification No. G.S.R. 658(E) -
23/09/2021
(1) These rules may be called the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette....
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Circular No. PFRDA/2021/36/SUP-CRA/14 -
26/08/2021
It has been decided to increase the entry age of NPS in the interest of Subscribers and benefit them with the opportunity of creating a long term sustainable pension wealth. The existing age of entry which is 18-65 years has been revised to 18-70 years....
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Circular No. PFRDA/2021/31/SUP-POP/4 -
26/07/2021
Once KYC Identifier is generated by CKYCR, PoPs shall ensure that the same is communicated in writing and in confidential manner to the subscribers in accordance with Rule 9 (1B) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended;...
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Circular no.: PFRDA/2021/30/SUP-ASP/6 -
22/07/2021
Under National Pension System (NPS), the Subscribers are allowed to exit as per PFRDA (Exit and Withdrawal) Regulations. Exit regulations of PFRDA mandates for the utilization of the specified amount of accumulated corpus to purchase immediate Annuity to be provided by Annuity Service Providers (ASP) which are empaneled with PFRDA. ASPs a...
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Circular No. PFRDA/2021/21/SUP-NPST/2 -
20/07/2021
Growing Subscribers' base, geographically wide spread service providers and the large-scale adoption of digital interventions necessitate the importance of verifying the beneficiary's bank account number of the Subscribers independently not only to ensure that the amount is received by the rightful beneficiary whose Bank Account is active...
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