Moving between NPS and EPF isn't simple

EPF Act needs to be changed to allow movement between these two schemes

Despite the Pension Fund Regulatory and Development Authority’s (PFRDA’s) attempts to make the National Pension System (NPS) more attractive, things haven’t worked too well, in terms of transfer of Employees’ Provident Fund (EPF) subscribers to NPS. More than 90 per cent of the subscribers are either government employees (who don’t have a choice) or lower income groups who were given a one-time subsidy to enrol. Only five-six per cent of subscribers are from the corporate sector. And this development happened after the amendment that allowed deductibility of employers’ contribution of the salary over and above the Rs 1.5 lakh under