NPS Scheme

Earlier, 13,112 new subscribers had joined the NPS in February 2022

Employees from several states have been demanding a change in the current pension system. Some states, including Rajasthan, Chhattisgarh, Jharkhand have already switched back to the old pension scheme

The NPS was introduced in April 2004 to replace the erstwhile old pension scheme, which was seen as a major burden on state finances

With premature withdrawal being difficult, opt for it if you won't need the money till retirement

Between September 2017 and November 2022, 6.09 crore new subscribers joined the EPF scheme

Guarantee benchmarked to the rate of return on ten-year government security

The government sector NPS subscribers will have to make a request for partial withdrawal of their National Pension System (NPS) corpus only through their associated nodal offices from January 1, 2023. The government sector NPS subscribers include employees of central and state governments and autonomous bodies. The Pension Fund Regulatory And Development Authority (PFRDA) relaxed the norms during the COVID pandemic by allowing withdrawals under NPS through self-declaration. "With the abating of the pandemic-related difficulties and relaxation of lockdown restrictions, the issue examined after taking into consideration of the prevalent practices, circumstances and law, it has been decided to make it mandatory for all the Government sector subscribers to submit their requests through their associated nodal offices," it said in a circular. PFRDA said the relaxation given in January 2021 had benefited the subscribers during the COVID pandemic and immobility caused due to lockdowns in .

PFRDA had launched the online partial withdrawal facility in January 2021 to help subscribers cope with the Covid-19 pandemic

Asset allocation to NPS should depend on age, risk appetite and asset mix in existing investments

Pension Fund Regulatory & Development Authority has appointed Suraj Bhan as the chairman of the National Pension System Trust (NPS Trust), responsible for managing funds under the National Pension System (NPS). Consequent upon the tenure of the present chairman of the trust coming to an end on November 11, 2022, the authority has designated Suraj Bhan as chairperson of the board of the Trustee with effect from November 12, 2022, Pension Fund Regulatory & Development Authority (PFRDA) said in a circular. Bhan has been a Trustee on the Board of NPS Trust since 2018. He joined the Indian Economic Service in 1983 and retired as Director General of Labour Bureau, Chandigarh, in January 2018. He has varied experience across several sectors with the government and public sector undertakings in the areas of economic policy, business, industry and finance.

Reverting to OPS is being considered an easier option from a political standpoint, but could financially stress the states

The Pension Fund Regulatory and Development Authority (PFRDA) is in talks with the Insurance Regulatory and Development Authority of India (IRDAI) to let NPS subscribers port their annuity plans

Regulator eases rule for senior citizens taking annuity products from proceeds of National Pension Scheme

Committee set up by pension regulator to consider suggestions made by consultant for scheme

The Union government needs to step in and lead the next round of pension reforms, which are now in danger of unravelling

The Atal Pension Yojana scheme saw an increase in subscribers by 31.60 per cent to 37.2 million in May 2022

Department of Posts is now pleased to start providing NPS (All Citizen Model) through online mode with effect from April 26, 2022," the statement said

For a long-term goal like retirement, NPS subscribers should ideally opt for an equity-heavy portfolio

The NPS has offered higher returns so far than other schemes

Currently, the subscribers under the NPS scheme are allowed to change the investment pattern twice in a financial year