co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
Three months after launch, regulator says groundwork is complete, pension funds and large banks expected to accelerate on-ground adoption, Chairman Ramann said.
The minimum initial and annual contributions are Rs 250, with no maximum limit on contributions. Contributions can also be gifted by relatives and friends.
PFRDA may also tweak the NPS investment rules to allow wider asset diversification as bond yields are expected to fall, Sivasubramanian Ramann tells Moneycontrol in an interview
The 15-member panel includes a diverse group of experts from various disciplines such as legal, actuarial, finance, insurance, capital markets and academia.
PFRDA has named three new trustees to the NPS Trust Board through a formal selection procedure.
The issue is how pension asset managers value government securities in their funds, which are currently accounted for at the latest market price
The PFRDA has also permitted investments in gold and silver ETFs, giving pension funds the option to diversify into commodity investments.
An additional 0.1 percent incentive has been offered if 80 percent of customers are new to the scheme. This threshold has not yet been achieved, but once business gains momentum, pension funds are expected to actively pursue this incentive, Ramann said.
New circular gives firms flexibility to review funds annually, allows employees voluntary investment freedom.
NPS to offer same tax benefits to new inflation-protected payouts; 100% equity option already available
Extension comes after stakeholders sought more time in light of recent changes including switch option, retirement benefits, and tax exemptions
According to the Ministry of Finance, even eligible past retirees under NPS can exercise this option. But they must do so by the September 30 deadline.
PFRDA has held several rounds of discussions with fund managers on the potential change, which is aimed at boosting the growth of the pension industry in India
From April 1, the equity class division portion of APY has been increased from 15 percent to 25 percent
The term of PFRDA's current chairperson Deepak Mohanty ends in May
Under the old pension scheme (OPS), effective before January 2004, employees got 50 per cent of their last drawn basic pay as pension
The new NPS representative body will promote the pension scheme as a retirement product, ensure transparency and collaborate with policymakers.
PFRDA consists of a chairperson and not more than six members, of whom at least three shall be whole-time members, to be appointed by the government
Jayasimha has been the Trustee of NPS Trust Board since December 2020.
Nageswaran further emphasized that any efficient pension system should be sustainable and scalable along with a balance Asset Liability framework
National Pension System assets touched Rs 12.65 lakh crore in August 2024, representing a 30 percent growth over the same month of the previous year.
In the NPS balance lifecycle scheme, the debt proportion will increase after 45 years of age. Existing NPS subscribers will also be allowed to move to the new scheme, he said.
The changes to the NPS Trust norms simplify provisions for the appointment of trustees, their terms and conditions, holding of meetings of Board of Trustees, and appointment of NPS Trust's chief executive officer
Your employer can contribute to your National Pension Scheme fund over and above the employees’ provident fund (EPF) contributions. Employees or employers need not to choose one over the other.
Pension sector players expect the Finance Secretary-headed committee tasked with looking into government employees’ concerns about NPS to submit its report around budget time, which could pave the way for a final resolution of the thorny issue.
