NPS Return Over 10 Percent

The PFRDA is trying to maintain the return of  over 10 percent to NPS subscribers when interest rates are falling. The three government-managed  pension funds, SBI PensionFund, UTI  Retirement Solutions, LIC Pension Fund, are giving 10.16 to 10.52 percent return to central government employees. For the state level, the interest rates fall in the range

NPS  joint age raised to 70 years

PFRDA has raised the joining age  of NPS from 60 to 65 years  and the subscriber can continue up to the age of 70 years.  The age limit has been raised to make NPS more attractive and  customer friendly. The raise is expected to facilitate  transfer of superannuation funds to NPS. Presently, NPS has more

PFRDA increases incentives for POPs to promote NPS

PFRDA  has increased  incentives payable to Points of Presence (POPs)  in NPS. The fee for initial subscriber registration to a POP has been increased to Rs.200= from Rs.125. POP will also get an incentive of Rs.50=   per account for every account which continues to contribute  a minimum of Rs. 1,000=in a financial year.  Charges have

GOVERNMENT IS STUDYING OROP REPORT

The Defence Ministry is examining the report of retired Chief Justice of Patna High Court , L. Narasimha Reddy, appointed in December 2015 to remove anomalies in the OROP scheme. One of the major demands of the veterans was annual revision of pension while the government had agreed to review it after every five years.

5 Lakh officers will be trained to strengthen NPS

Nearly  5  lakh officers  will be trained  to strengthen the national  Pension  System,  says  PFRDA. A  Learning Management  system (LMS)  is being  explored for installation , commissioning  and maintenance of LMS for imparting the training to employees of Points of Presence (POP), corporates, nodal officers of central  and state governments. Source: PTI 29.10.17

NPS joining age limit raised  to 65 years

The upper age limit for  joining the NPS  has been raised to 65 years  from the current 60, by the PFRDA.  NPS is currently open for people  between 18 and 60. The aim is to cover as many people as possible under the NPS. Source: IANS 12.09.17

NEW PENSION PLAN SUITABLE FOR THOSE ABOVE 60 YEARS

The government has launched a pension scheme for senior citizens with assured return of 8%, known as Pradhan Mantri Vaya Vandana Yojna (PMVVY). The scheme was earlier announced in the union budget 2017-18. The scheme is open to senior citizens aged 60 years and above. It can be purchased through the LIC of India. The

DOUBLE-DIGIT RETURNS IN NPS FUNDS — ET Research

Who put the maximum 50% in equity funds have earned the highest returns All NPS funds have earned double digit returns in the past few years. Aggressive investors, who put the maximum 50% in equity funds, have earned over 15% in the past one year and annualised returns of over 12% in the past 3-5

NPS A/C will Not Be Blocked

The PFRDA has clarified that that NPS accounts of investors who have not submitted the Foreign Account Tax Compliance Act (FATCA) self certification will not be blocked. These investors were warned that if they failed to submit a physical signed self-certification of the FACTA by April 30 , their NPS accounts will be blocked. The

OPEN NPS ACCOUNT VIA AADHAAR WITHOUT ANY PHYSICAL DOCUMENT

Opening an NPS account has further been simplified. PFRDA has dispensed with the requirement of submission of physical application form for opening of NPS accounts if done through Aadhaar verification and e-signature. The PFRDA, in October 2013, had allowed acceptance of e-KYC as a valid process for verification in addition to other permitted documents of