Corporate Law : The 2025 amendments scrap key lock-ins and vesting conditions, allowing earlier and more flexible exits. The ruling links withdraw...
Corporate Law : Learn about the Unified Pension Scheme (UPS) for Central Govt employees under NPS. Check eligibility, contribution details, assure...
Corporate Law : Learn about the regulatory body overseeing GIFT City in India, the International Financial Services Centres Authority (IFSCA). Exp...
Finance : Discover the ins and outs of India's National Pension System (NPS) – eligibility, contributions, investments, tax benefits, and ...
Income Tax : When it comes to planning for retirement, one of the most popular investment options in India is the National Pension System (NPS)...
Corporate Law : PFRDA has proposed major reductions in grievance resolution timelines under the NPS framework. The draft aims to improve accountab...
Finance : The agreements introduce structured protocols for intelligence sharing and monitoring compliance under PMLA. The ruling highlights...
Corporate Law : PFRDA introduced multiple NAVs to reflect different fee structures for government and non-government subscribers. The change ensur...
Corporate Law : Authorities cautioned investors about entities promising monthly returns on deposits without regulatory approval, advising the pub...
Corporate Law : PFRDA has issued a public notice cautioning investors about an unregistered website and mobile app offering high-return schemes. T...
Income Tax : ITAT Ahmedabad held that PFRDA Act, 2013 doesn’t prescribed any due date for payment of employee’s contribution to National Pe...
Corporate Law : PFRDA has launched Retirement Income Schemes and drawdown options under NPS to allow flexible post-retirement payouts up to age 85...
Corporate Law : PFRDA relaxed earlier restrictions on annuity surrender after receiving hardship representations from subscribers. The circular no...
Corporate Law : PFRDA has amended NPS investment guidelines to permit investment in Rupee Bonds issued by the New Development Bank. The circular b...
Corporate Law : PFRDA clarified that Pension Agents working with multiple Points of Presence must be identified through PAN for better traceabilit...
Corporate Law : PFRDA has expanded the NPS Sanchay incentive framework to include CSC-VLEs, BCs/Pension Sakhis, and PACS operating through PoPs. T...
PFRDA had enabled multiple modes of digital on boarding into NPS through Digi Locker Issued Documents, Aadhaar e KYC/XML and PAN/Bank account.
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)
PFRDA Request for Proposal for Appointment of Chartered Accountant/ Cost Accountant Firm as Internal Auditor of PFRDA for F.Y.2022-23
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.
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.
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,
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 Subscribers.
Introduction of Systematic Lump sum Withdrawal (SLW) for the benefit of NPS Subscribers and facilitate them with smart withdrawal facility
PFRDA permita subscribers under Government/ Corporate sector to continue with their existing investment pattern and Pension Fund (PF) choice as an option
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.
