Page 4 - Pfrda

Same-day settlement for NPS subscribers from July 1: Check details

The changes ensure that the benefits of same-day investments are passed on to the subscribers as applicable

PFRDA to begin same-day settlement for NPS subscribers from July 1

The Pension Fund Regulatory and Development Authority has permitted T+0 settlement for National Pension System (NPS) subscribers effective July 1. NPS contributions received by the Trustee Bank until 11 am (T) on any settlement day will be invested on the same day and the subscribers will get the benefit of same-day NAV (Net Asset Value), PFRDA said in a statement. Hitherto, contributions received by the Trustee Bank are invested on the next settlement day (T+1), meaning contributions received until the previous day are invested the following day, it said. D-Remit contributions received by 9:30 am on any settlement day were already considered for same-day investment. Now, D-Remit contributions received till 11 am will also be invested on the same day with the applicable NAV, it said. Points of Presence (PoPs), Nodal Offices, and NPS Trust for eNPS are advised by PFRDA to align their NPS operations as per revised timelines to benefit the subscribers in a time-bound manner, it added.

PFRDA to allow subscribers to keep 50% investment in equity upto 45 yrs age

PFRDA chairman Deepak Mohanty on Friday said the NPS balance lifecycle scheme that is designed to effectively manage both risks and returns may be launched in July or August

NPS has new login rules: here is the step-by-step process

Pension Fund Regulatory and Development Authority (PFRDA) has introduced a new security layer in the National Pension System (NPS).

Long lock-in, but safe investment: What NPS can do for your financial goals

NPS is an excellent product for retirement planning, provided you stay put till maturity

PFRDA Chairperson launches mobile app for financial inclusion, boost NPS

PFRDA Chairperson Deepak Mohanty on Thursday launched a web application developed by Zerodha Broking Limited to provide easy access to NPS for subscribers. The app offers seamless access to NPS to a wider subscriber base, the Pension Fund Regulatory and Development Authority (PFRDA) said in a statement. Mohanty said that there is merit in joining NPS at a young age to harness the benefit of compounding. NPS provides continuity to retirement saving accounts irrespective of one's employment status and is available for non-resident Indians (NRIs), it said. As youngsters are tech savvy, the facilitation by Zerodha Broking Limited would expand access to NPS, it added.

National pension system added 21.5% fewer corporate subscribers in 2023

Saw 158,212 new subscribers last year compared to 201,517 during 2022

PFRDA amends regulations for Trustee Bank, Central Recordkeeping Agency

Pension Fund Regulatory and Development Authority (PFRDA) has amended regulations for Trustee Bank, and Central Recordkeeping Agency. The amendments to Trustee Bank (TB) Regulations simplify and strengthen the provisions related to implementation of fraud prevention and mitigation policy, compensation to the subscriber, invitation of application for new registration and surrender of certificate of registration, an official statement said on Thursday. Amendments to Central Recordkeeping Agency (CRA) Regulations simplify and strengthen the provisions related to the governance of CRA in line with Companies Act, 2013 and enhanced disclosure of information by CRA, it said. Both amendments were carried out earlier this month and these are in line with the 2023-24 Union Budget announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business. The other notable amendments included implementation of fraud prevention and mitigation policy by CRA to ..

PFRDA eases business processes with simplified trustee appointments

NPS Trust has been established by the PFRDA for taking care of the assets and funds under the NPS

Fresh NPS adoption by corporate sector slips to 34-month low in Nov: NSO

Data shows that the addition of new monthly subscribers under the corporate segment fell by approximately 25 per cent to 7,728 in November from 10,341 in October

NPS: Ambit of reasons for withdrawal expanded; use facility cautiously

Withdrawal made during tenure for other goals will erode retirement corpus

Total corpus under pension funds crosses Rs 11 trillion: PFRDA chairman

The Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty on Friday said the total corpus under the National Pension System and Atal Pension Yojana has crossed Rs 11 lakh crore. The milestone of Rs 11 lakh crore asset under management (AUM) was achieved on January 10, 2024, he told reporters here. The AUM has increased from Rs 10 lakh crore to Rs 11 lakh crore in 4 months 18 days (August 24, 2023 to January 10, 2024), he said, adding the private sector AUM crossed Rs 2 lakh crore. The authority in September revised the AUM target of Rs 12 lakh crore for the current fiscal. The pension authority is working on a minimum assured pension plan, and it could become a reality in the next financial year if the guarantee issued is resolved. "There are a lot of complications in determining the rate of return, what to set as the bar for return. Fund managers are also thinly capitalised. So, you have to keep a check on their liabilities also," Mohanty said. Asked

PFRDA notifies new point of presence regulations for NPS subscribers

The simplification in PoP regulations is in line with the Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business

Interim Budget may raise pension floor for unorganised sector workers

PFRDA says current amount may not help attract new Atal Pension subscribers

PFRDA seeks tax parity for NPS contributions with PF contributions

The aspiration is to take it to 14 per cent over the period to encourage wider acceptance of pension

New rules of NPS: Should you opt for systematic lump Sum withdrawal?

In a circular dated October 27, PFRDA proposed to provide the option of phased withdrawal of the lump sum through Systematic Lump Sum Withdrawal (SLW) facility

NPS Rules: PFRDA to allow users to withdraw up to 60 per cent pension fund

PFRDA has started the process of implementing new rules which will allow users to withdraw up to 60 per cent of their pension corpus. Here's all you need to know

Efforts on to make NPS available at all banks, post offices: PFRDA Chairman

Regulator PFRDA is working on ways to make the social security scheme National Pension System (NPS) available at all bank branches and post offices, according to its Chairman Deepak Mohanty. The efforts are to increase the penetration of pension schemes by making the NPS products easily available to the public. In an interview to PTI Bhasha, Mohanty said the PFRDA has roped in Regional Rural Banks (RRBs) and banking correspondents for the distribution of the NPS so that people even in villages and small towns will be able to easily avail the benefits of the scheme. "We are trying to make the NPS easily available to the people through all bank branches and post offices. We have also discussed this matter at the top management levels but ultimately it is up to the banks to take a decision on this matter," the PFRDA (Pension Fund Regulatory and Development Authority) Chairman said. Currently, NPS is available in many bank branches. He also said the aim is to add a total of 13 lakh NP

PFRDA asks govt to hike guaranteed pension under Atal Pension Yojana

Managed by PFRDA, the APY aims to establish a universal social security system for workers in the unorganised sector

Shift in leadership landscape? Non-govt chiefs at financial regulators

Will more regulators such as Trai follow suit?