Income Tax : The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retire...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Income Tax : The issue is understanding complex NPS rules, tax benefits, and recent updates. The framework clarifies withdrawal flexibility, ta...
Corporate Law : The case highlights NPS as one of the few deductions available in the new tax regime. Employer contributions remain fully deductib...
Income Tax : Even under the new tax regime, employer contributions to NPS remain deductible under Section 80CCD(2). This reduces taxable income...
Corporate Law : Draft rules seek to bring petrol, gas, and hydrogen dispensers under approved testing centres. The key takeaway is enhanced regula...
Corporate Law : The Finance Ministry approved the extension of LC75 and Balanced Life Cycle (BLC) investment options to Central Government NPS/UPS...
Corporate Law : PFRDA consults on adopting dual valuation (Accrual/MTM) for Government Securities in NPS/APY schemes to stabilize NAV, reduce inte...
Finance : PFRDA rationalizes NPS Auto Choice and Life Cycle Fund names to align with actual equity and risk profiles. Funds are now Common S...
Corporate Law : PFRDA releases an exposure draft proposing amendments to NPS regulations, focusing on increased flexibility for exits, withdrawals...
Corporate Law : PFRDA has introduced the StAR NPS platform to enable a fully digital and assisted onboarding process for NPS subscribers. The fram...
Corporate Law : The authority clarified AMC alignment between Tier I and Tier II accounts to ensure uniformity. It also exempted low-balance accou...
Corporate Law : The issue involved enhancing the existing NPS Swasthya scheme. The circular introduces PoC 2 with revised features to improve flex...
Corporate Law : Revised guidelines require Points of Presence to compensate subscribers for service delays or operational failures without waiting...
Corporate Law : PFRDA clarified that the NPS Vatsalya Scheme Guidelines 2025 take effect from 23 February 2026. The circular also directs stakehol...
Common proposal for Exit from NPS and for buying annuity from ASP facilitates parallel processing of Lump sum component and Annuity due to which the time taken by ASPs while issuing Annuity Policies is significantly reduced which result in faster Subscriber servicing and timely Annuity issuance.
Pension Fund Regulatory and Development Authority Circular no: PFRDA 2023/08/SUP-CRA 04 Dated: 21st Feb 2023 To All stakeholders under NPS Subject: NPS/APY Functionalities released by CRAs during Quarter III (FY 2022-23) The Central Record Keeping Agencies (CRAs) appointed by PFRDA develop system level functionalities as per the evolving needs of NPS/APY stakeholders. 2. CRAs have […]
PFRDA issued a notification introducing the Systematic Lump sum Withdrawal (SLW) for the benefit of National Pension System (NPS) Subscribers. The SLW process allows subscribers to withdraw a lump sum amount periodically until the age of 75. This notification provides details on the SLW facility, process flow, and its applicability to both Tier-I and Tier-II accounts.
NPS/APY Subscribers permitted to withdraw from their Permanent Retirement Account Number (PRAN) as per applicable guidelines and provisions of regulations issued by PFRDA.
It needs to be ensured that the name of the subscriber and Date of Birth (DoB) as per CRA records do match with the information available in Aadhaar.
PFRDA decided to allow intermediaries to use technological intervention by using VCIP as an added due diligence mechanism for verification of nominee/claimant/legal heir while processing withdrawal claims in case of death of NPS subscribers.
The circular also provided for the option of submission of the partial withdrawal requests by the subscribers through their nodal office/POPs as per the prevalent practice.
List of functionalities developed and made available by CRAs during Quarter II of current FY 2022-23 is for benefit of subscribers and other stakeholders
PFRDA takes a plethora of initiatives, enablers, empowerment kits & series of digitally enabled solutions for the large-scale adoption of NPS for the holistic retirement planning of the existing and prospective Subscribers.
e-NPS Govt provides the opportunity for the employees of Government Sector and empowers them to open NPS Acct with ease and lot of convenience in a paperless mode.
