NPS rules change 2022: Check these new rules before investing in National pension scheme

Check these latest rules that have been modified by Pension Fund Regulatory and Development Authority before investing in National pension scheme.

New Delhi: Pension Fund Regulatory and Development Authority (PFRDA) has lately made several changes in the NPS rules. While some rule changes by regulatory body supervising and regulating pensions in India could be a setback for investors, some are for the benefit of subscribers.

Check these latest rules before investing in National pension scheme

PFRDA intermediaries this month decided to reduce the timelines of various transactions under NPS by half.  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.

PFRDA had last month said that the PoP players in the NPS scheme would get a commission of Rs 15-10,000 if subscribers route their voluntary contributions through the Direct Remit (D-Remit) facility under the all citizen model. The move aims to compensate the Point of Presence (PoPs) players who were losing fees.

The Pension Fund Regulatory and Development Authority (PFRDA), the regulatory body supervising and regulating pensions in India, has changed a rule related to contribution to the funds via credit cards. In what could be a setback for many investors, tier-2 accounts will now not be able to contribute to NPS via credit card.  In an official notification dated August 3, 2022, PFRDA came up with the announcement related to the change in the rule of contribution to the NPS.