STAFF PORTAL- CGE NEWS PORTAL

To Improve the Operational and Regulation Issues in National Pension System (NPS) Important Announcements and Approvals in Board Meeting of PFRDA  Ministry of Finance Important Announcements and Approvals in Board Meeting of PFRDA Posted On: 04 MAY 2018 4:18PM by PIB Delhi Pension Fund Regulatory and Development Authority (PFRDA) is established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, during the recently held Board Meeting some important decisions were taken to improve the operational and regulation issues in National Pension System (NPS). Some of the decisions taken in the Board Meeting are a...

Partial Withdrawal under National Pension Scheme Ministry of Finance  Partial Withdrawal under NPS Posted On: 06 MAR 2018 6:08PM by PIB Delhi  The Pension Fund Regulatory Development Authority (PFRDA) has relaxed the norms for partial withdrawal under the National Pension Scheme (NPS). In accordance with the PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations 2017, the subscriber ought to be subscribed to the National Pension System, at least for a period of three years from the date of his or her joining to such system, to be eligible to make partial withdrawals, under specific circumstances as specified in such regulations.  The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. The subscriber shall be permitted to withdr...

Conference on Implementation of National Pension System (NPS) by Central Government- PFRDA PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY PRESS RELEASE Conference on Implementation of National Pension System by Central Government A conference on implementation of National Pension System by Central Government Ministries/Departments and CABs was organized by PFRDA on 21st December, 2017 at New Delhi. The prime objective was to provide a forum to all Central Government Ministries/Departments and Central Autonomous Bodies (CABs), where the progress in the implementation of NPS with respect to compliance of timelines in various NPS related activities could be brought to the fore and a way forward could be provided. Officials from most of the Ministries/ Departments and CABs attended the conference. Dr. Badri Singh Bhandari, Whole Time Member (Economics) in his opening remarks emphasised the need for discipline in submission of subscriber registration forms and remitta...

Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year PFRDA PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY B-14/A, Chhatrapati Shivaji Bhawan Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Phone : 011-26517503 Fax : 011-26517507 Website : www.pfrda.org.in CIRCULAR PFRDA/2017/8/PD/2 01 March 2017 To, All Stakeholders in the National Pension System Subject: Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year 1. As per the extant guidelines, subscriber can change his/her existing Pension Fund (PF), the investment option(Active or Auto choice) as well as asset allocation ratio (allocation among asset class-Equity/Corporate Bonds/Government securities/Alternate investment ) once in a financial year. This scheme preference is applicable to the existing pension corpus as well as to the prospectiv...

Charges and incentive structure under NPS Lite w.e.f. 01.04.2017 PFRDA PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY CIRCULAR CIR No. : PFRDA/2017/5/SWM/1 Date: 20th February, 2017 To, All Aggregators Subject: Charges and incentive structure under NPS Lite w.e.f. 01.04.2017 1. As per the existing revenue structure for Aggregators under NPS-Lite/Swavalamban, till 2016-17 the Aggregators are paid Rs. 100/- for opening/servicing every persistent NPS-Lite/Swavalamban account, provided the contribution deposited by the subscriber is between Rs. 1000/- to Rs. 12000/-in a financial year. However, the incentive is applicable till 31.03.2017 only. 2. In order to continue the incentives for the Aggregators even after 31.03.2017 so that they continue to service the subscriber base of NPS Lite attached to them, the following charge and incentive structure has been approved by PFRDA and will be applicable w.e.f. 01.04.2017: Charges under NPS-Lite/Swavalamban w.e.f 01.04.2017...

PFRDA Organizes Conference for State Governments to Discuss Implementation of National Pension System Press Information Bureau  Government of India Ministry of Finance 19-December-2016 19:52 IST PFRDA Organizes Conference for State Governments to Discuss Implementation of National Pension System  A conference for State Governments was organized by PFRDA on 19th December 2016, at New Delhi to discuss NPS implementation by the state governments. In his inaugural address, Chairman, PFRDA, Sh. Hemant Contractor congratulated winners of awards instituted by PFRDA for the State Government sector. He observed that the number of subscribers registered in State Government sector has increased to 32 lacs and also the Assets Under Management is touching approx. Rs. 79,000 crores. He urged the State Governments to frame timelines for all the activities specified by PFRDA. Currently, only 11 State Governments have issued instructions regarding timelines. Besides, framing ...

PFRDA (Pension Fund) First Amendment Regulations, 2016 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION New Delhi, the 17th August, 2016 Pension Fund Regulatory and Development Authority (Pension Fund) (First Amendment) Regulations, 2016 No.PFRDA/12/RGL/139/9.— In exercise of the powers conferred by sub-section(1) of Section 52 read with sub-clause(e),(m),(n),(o),and (p) of sub-section 2 of Section 52 of the Pension Fund Regulatory and Development Authority Act, 2013 (Act No. 23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 namely,- 1. These regulations may be called the “Pension Fund Regulatory and Development Authority (Pension Fund) (First Amendment) Regulations, 2016”. 2. These shall come into force on the date of their publication in the Official Gazette. 3. In the Pension Fund Regulato...

NPS: Advisory Fee under PFRDA (Retirement Adviser) Regulation 2016 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY B-14/A, Chhatrapati Shivaji Bhawan, Qutab Institutional Area, Katwaria Sarai, New Delhi – 110 016. PFRDA/36/R&S/RA/4 22nd September, 2016 To All Stakeholders in the National Pension System Subject: Introduction of “Advisory fee” under Regulation 15 of PFRDA (Retirement Adviser) Regulations, 2016. 1. This has reference to the Regulation no.15 of the PFRDA (Retirement Adviser) Regulations, 2016. Wherein the on-boarding fee of Rs.120/- and a fee of Rs.20/- per transaction or a maximum of Rs.100/- per annum, for subsequent services, have been stipulated. 2. Further to the abovementioned charges, it has been decided by the Authority that and advisory fee of 0.02% may also be charged from any existing subscriber, on their assets under management (AUM) of NPS or any other scheme regulated by PFRDA, on the date of advice, subject to a minimum of Rs.100/...

Simplification of withdrawal process - Documentary requirements for subscribers belonging to Grameen Dak Sevaks (GDS) who are covered under NPS-Lite-Swavalamban PFRDA PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY B-14/A,Chhatrapati Shivaji Bhawan Qutab Institutlona Area, Katwaria Sarai, New Delhi-110016 CIRCULAR PFRDA/2016/12/Exit/04 08.06.2016 To, NPS Trust/CRA/Aggregators & other stakeholders Simplification of withdrawal process - Documentary requirements for subscribers belonging to Grameen Dak Sevaks (GDS) who are covered under NPS-Lite-Swavalamban This is with reference to feedback received from the concerned stakeholders comprising the subscribers belonging to NPS-Lite-Swavalamban including Grameen Dak Sevaks (GDS) on simplification of the procedural requirements basing on the low contribution levels and the level of awareness and literacy among the target segment of population covered under this category. The Authority has examined the matters pert...

New Features Released For NPS Subscribers Press Information Bureau  Government of India Ministry of Finance 15-July-2016 17:41 IST New Features Released For NPS Subscribers  Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, recently many new functionalities have been released to provide the ease of operation for the benefit of subscribers and nodal offices. These are detailed below: Functionality released recently for the benefit of NPS subscribers: S. No. Functionalities Benefits Description 1 Mobile Application  Mobile Application for NPS is now available to the Subscriber’s in ‘Google Play Store’ as ‘NPS ...

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY PRESS RELEASE Assets under Management (AUM) of National Pension System (NPS) crosses Rs. 1 lac crore NPS has been implemented for all Government Employees (except armed forces) joining Central Govt. on or after 01 January 2004. Most of the State/UT Governments have also notified the National Pension System (NPS) for their new employees. NPS has been made available to every Indian Citizen from 01st May 2009 on a voluntary basis. Further, from 1st June 2015, the Atal Pension Yojana, has been launched which has given the much required impetus to the social security schemes Currently, NPS and APY together have more than One Crore subscribers with total Asset Under Management (AUM) of Rs.1,00,275 crores. The segment wise status of the NPS and APY as on 03.10.2015 is as under: Segment No. of Subscribers Asset Under Management (Rs. Cr.) Central Government 15,71,136 32,381 ...