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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.
Pension Fund Regulatory and Development Authority Circular no: PFRDA/2022/19/SUP-CRA/6 | Dated: Aug 25, 2022 To, All the NPS stakeholders Subject: Changes in process flow of e-Nomination for the benefit Government / Corporate Sector Subscribers PFRDA had introduced e – Nomination facility for the benefit of NPS Subscribers vide its communication dt. 03.09.2020. 2. The existing […]
The trail commission to PoPs for D-Remit Contributions of the associated Subscribers shall be @ 0.20% of the contribution amount (Minimum ₹ 15 and Maximum ₹ 10,000) similar to eNPS. The applicable charges would be recovered by unit deduction on periodical basis.
Pension Fund Regulatory and Development Authority Circular no.: PFRDA/2022/20/SUP-TB/1 | Dated: 11th Aug, 2022 To, All the NPS stakeholders Subject: Voluntary Contributions under D Remit enabled through UPI In continuation of our Circular no. PFRDA/2020/44/SUP-CRA/17 dt 01.10.2020 and Circular no. PFRDA/2021/6/SUP-CRA/5 dt 10.03.2021 vide which the features of ‘D-Remit’ and ‘Enablement of IMPS mode of contribution […]
