PFRDA

FAQs On Cyber Security Directions of 28.04.2022

Corporate Law - India is fast becoming one of the world’s largest connected nations - with over 80 Crores Indians presently connected and using the Internet and cyberspace - and with this number expected to touch 120 Crores in coming few years. The Internet also represents an important part of our Economy -...

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National Pension Scheme in India

Corporate Law - 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....

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Continuity of EEE and EET model of tax savings

Corporate Law - Domestic savings are crucial, both for the national economy as well as for the people who save, particularly during recessionary times. This was proved once again, wherein unlike many Western countries, India remained fairly insulated from the recent global economic slowdown due to its relatively high level of savings. Ideally one should ...

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Appointment of CA/Cost Accountant Firm as Internal Auditor of PFRDA

Corporate Law - PFRDA Request for Proposal for Appointment of Chartered Accountant/ Cost Accountant Firm as Internal Auditor of PFRDA for F.Y.2022-23...

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Proposed Systematic Lump sum Withdrawal for NPS Subscribers

Corporate Law - Introduction of Systematic Lump sum Withdrawal (SLW) for the benefit of NPS Subscribers and facilitate them with smart withdrawal facility...

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PFRDA Working Paper on Perspectives on Pension-Sector in India

Corporate Law - 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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More than 99 lakh APY accounts enrolled during FY 2021-22

Corporate Law - 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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PFRDA (Registration of Pension Funds) Guidelines, 2021

Corporate Law - 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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NPS Digital On boarding through CKYC

Circular No. PFRDA/2022/36/SUP-CRA/12 - (22/11/2022) - PFRDA had enabled multiple modes of digital on boarding into NPS through Digi Locker Issued Documents, Aadhaar e KYC/XML and PAN/Bank account....

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Parallel Processing of Exit & Annuity components for the benefit of NPS Subscribers

Circular No. PFRDA/2022/32/ASP-EXIT/03 - (14/11/2022) - PFRDA provides digitally enabled exit solutions for its Subscribers through Aadhaar / Two Factor Authentication (2FA). Under NPS, the Subscribers at the time of exit can avail of a defined amount as a lump sum and the balance amount has to be utilized for the purchase of immediate Annuity from the e...

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Processing Death Claims where Nomination is changed post death of NPS Subscribers

Circular No. PFRDA/2022/29/ASP-EXIT/02 - (20/10/2022) - Nomination can be made only by the subscriber. However, there are special provisions enabled as per exit regulations for treating the nomination as made in the service records to protect the interest of the subscribers who were employed and covered under NPS through their employers....

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Option to allocate 75% of NPS subscriber’s contribution in Asset Class E (Equity) in Tier-I – Reg.

Circular No. PFRDA/2022/31/REG-PF/04    - (20/10/2022) - PFRDA to allow option to allocate 75% of subscriber's contribution in Asset Class E (Equity) in Tier-I under active choice without any conditions of tapering from the age of 51 years....

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Guideline for Handling NPS corpus of deceased Subscribers meant for purchase of Annuity

Circular No. PFRDA/2022/27/ASP-EXIT/01 - (19/10/2022) - It is observed that in certain cases, the subscribers post availing lump sum had met with unfortunate death but before issuance of annuity and the amount meant for Annuity lie in CRA System. In such cases, the following are the guidelines which can be applicable to handle the corpus meant for issue ...

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Recent Posts in "PFRDA"

NPS Digital On boarding through CKYC

Circular No. PFRDA/2022/36/SUP-CRA/12 22/11/2022

PFRDA had enabled multiple modes of digital on boarding into NPS through Digi Locker Issued Documents, Aadhaar e KYC/XML and PAN/Bank account....

Read More

Parallel Processing of Exit & Annuity components for the benefit of NPS Subscribers

Circular No. PFRDA/2022/32/ASP-EXIT/03 14/11/2022

PFRDA provides digitally enabled exit solutions for its Subscribers through Aadhaar / Two Factor Authentication (2FA). Under NPS, the Subscribers at the time of exit can avail of a defined amount as a lump sum and the balance amount has to be utilized for the purchase of immediate Annuity from the empanelled Annuity Service Providers (ASP...

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Appointment of CA/Cost Accountant Firm as Internal Auditor of PFRDA

PFRDA Request for Proposal for Appointment of Chartered Accountant/ Cost Accountant Firm as Internal Auditor of PFRDA for F.Y.2022-23...

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Posted Under: Corporate Law |

Processing Death Claims where Nomination is changed post death of NPS Subscribers

Circular No. PFRDA/2022/29/ASP-EXIT/02 20/10/2022

Nomination can be made only by the subscriber. However, there are special provisions enabled as per exit regulations for treating the nomination as made in the service records to protect the interest of the subscribers who were employed and covered under NPS through their employers....

Read More

Option to allocate 75% of NPS subscriber’s contribution in Asset Class E (Equity) in Tier-I – Reg.

Circular No. PFRDA/2022/31/REG-PF/04    20/10/2022

PFRDA to allow option to allocate 75% of subscriber's contribution in Asset Class E (Equity) in Tier-I under active choice without any conditions of tapering from the age of 51 years....

Read More

Guideline for Handling NPS corpus of deceased Subscribers meant for purchase of Annuity

Circular No. PFRDA/2022/27/ASP-EXIT/01 19/10/2022

It is observed that in certain cases, the subscribers post availing lump sum had met with unfortunate death but before issuance of annuity and the amount meant for Annuity lie in CRA System. In such cases, the following are the guidelines which can be applicable to handle the corpus meant for issue of Annuity,...

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NPS/APY Functionalities released by CRAs during Quarter I (FY 2022-23)

Circular No. PFRDA/2022/24/Sup-CRA/09 12/10/2022

CRAs have the responsibility to develop new functionalities or utilities, establish new processes, and offer multiple models of interface for the uploading offices in order to provide maximum flexibility in terms of operation for the benefit of the subscribers as an ongoing exercise to fulfil their obligations that ultimately benefit the ...

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Proposed Systematic Lump sum Withdrawal for NPS Subscribers

Introduction of Systematic Lump sum Withdrawal (SLW) for the benefit of NPS Subscribers and facilitate them with smart withdrawal facility...

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Posted Under: Corporate Law |

Govt & corporate subscribers can continue with existing Investment Choice/PF

Circular No. PFRDA/2022/24/Sup-CRA/09 29/09/2022

PFRDA permita subscribers under Government/ Corporate sector to continue with their existing investment pattern and Pension Fund (PF) choice as an option...

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Reduction of Timelines for Withdrawal from T+4 to T+2 for pension Subscribers benefit

Circular No. PFRDA/2022/23/SUP-CRA/08 19/09/2022

The withdrawal requests of Subscribers at the time of exit were hitherto executed on T+4 working/settlement days (T being the day of authorization of withdrawal request by Nodal office/PoP/Subscriber) and the timeline has been reduced to T+2....

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