NPS rule change
The National Pension System (NPS), a market-linked, defined contribution plan run by the Pension Fund Regulatory and Development Authority (PFRDA), provides residents with affordable social security. Both companies and employees make contributions to this low-cost, tax-efficient plan.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The PFRDA has requested that the following papers be uploaded to the appropriate Central Record Keeping Agency (CRA) user interface by the subscribers and any connected nodal offices, POPs, or corporate. Those papers are:
New pension scheme vs old pension scheme, Find out which is better? |
1) OTP Authentication – Unique OTPs will be delivered to users’ mobile numbers and email addresses.
2) e-Sign: With Aadhaar, subscribers will e-Sign the request.
UK surpasses India as the world’s sixth-biggest equity market
The National Pension System (NPS) is a voluntary, defined contribution retirement savings plan created to help members make the best choices for their future via methodical saving throughout their working lives. The NPS aims to help persons develop the habit of saving for their retirement. It is an effort to discover a long-term solution to the issue of giving each Indian person a sufficient retirement income.
The National Pension System (NPS) pools individual savings into a pension fund, which is then invested by PFRDA-regulated professional fund managers in accordance with approved investment guidelines in diversified portfolios that include shares, corporate debt obligations, government bonds, and bills. Depending on the profits received on the investments placed, these contributions would increase and accrue over time.
In addition to withdrawing a portion of the accumulated pension wealth as a lump sum, if they so desire, the subscribers may use the accumulated pension wealth under the scheme to buy a life annuity from a PFRDA accredited Life Insurance Company at the time of their retirement from NPS.
Also Read: Hindenburg Report Drags Gautam Adani down from 3rd to 7th position on Forbes’ rich list
The 23rd edition of the bilateral naval exercise VARUNA, a symbol of the strong maritime…
World Sparrow Day is celebrated every year on March 20th to raise awareness about the…
NASA astronauts Butch Wilmore and Sunita Williams safely returned to Earth on March 18, 2025…
Many brilliant minds have shaped the field of mathematics, but one individual stands out for…
Many countries around the world are compared to others because of their geography, power or…
US President Donald Trump is reportedly considering a travel ban on citizens from 43 countries…