NPS rule change: The Pension Fund Regulatory and Improvement Authority (PFRDA) has determined to cease the power of fee of subscription of contribution in tier-2 accounts of nationwide Pension System (NPS). The PFRDA made its choice public by way of an official notification dated third August 2022.
Informing about discontinuing the bank card fee in tier-2 NPS account, PFRDA circular mentioned, “The Authority has determined to cease the power of fee of subscriptions/contributions utilizing bank card as a mode of fee within the Tier-II account of NPS. Accordingly, all PoPs are suggested to cease the acceptance of bank card as a mode of fee for the Tier-II account of NPS with instant impact.”
The PFRDA issued the round exercising its powers conferred beneath the Part 14 of Pension Fund Regulatory and Improvement Authority Act, 2013 to guard the curiosity of subscribers and to manage, promote and guarantee orderly development of the Nationwide Pension System and pension schemes to which the act applies.
Obtain The Mint Information App to get Day by day Market Updates.
Extra
Much less
Supply: Live Mint