The Pension Fund Regulatory and Development Authority has extended the date of applicability of a new rule for NPS account opening through Online PRAN Generation Module (OPGM). A PFRDA circular said, “Based on requests received from several Points of Presence (PoPs) and considering the prevailing situation, the advisory issued vide circular dated 20th April 2020 […]Continue Reading..
The auto debit facility for contributions towards Atal Pension Yojana has resumed this month. Also, no penalty if Atal Pension Yojana contributions from April, 2020 to August, 2020 are regularised before September 30, 2020. This was said by pension fund regulator PFRDA or Pension Fund Regulatory and Development Authority (PFRDA). A subscriber can make contributions to Atal Pension Yojana […]Continue Reading..
Opening a National Pension System (NPS) account has become easier than ever. The Pension Fund Regulatory and Development Authority (PFRDA) has announced that the subscribers can open their new NPS accounts through one-time password (OTP) based authentication process. To increase the outreach of the NPS, the pension regulator authority has adopted a slew of measures. The PFRDA […]Continue Reading..
As all of us are dealing with the Covid-19 pandemic crisis, the topmost priority for all of us is to be safe. In addition to staying safe, we also need to restart financial planning and it is important to note that extension granted by the Government to make investments for claiming the tax deductions for […]Continue Reading..
Due to the coronavirus pandemic, the government had extended the last date till June 30 for making various investment/payment for claiming deduction for FY 2019-20. It includes National Pension Scheme (NPS) and other Section 80C investments like PPF and NSC. To incorporate this deadline extension, the income tax department has added a special provision in latest ITRs […]Continue Reading..
Due to various reasons, Nitesh Dutt, who falls in the 20 per cent tax bracket, was unable to make his yearly contribution of Rs 50,000 for the Financial Year (FY) 2019-20 to save additional tax of Rs 10,000 over and above the 80C deductions. One of the reasons was a change in his bank account. […]Continue Reading..
The Old Pension Scheme for the government employees, except for defence personnel, was replaced with the Contributory Pension System of New Pension Scheme (now called National Pension System) from January 1, 2004 and the employees, who joined on or after that date, need to make mandatory contributions every month from their salary to the NPS […]Continue Reading..
The Pension Fund Regulatory and Development Authority (PFRDA) has advised all Nodal office/POPs to accept the scanned and self-certified images of documents through digital means from NPS subscribers to process their withdrawal request due to Coronavirus. In a recent circular, the PFRDA noted that in the current pandemic situation, it may not be possible for […]Continue Reading..
Atal Pension Yojana (APY) is a deferred pension scheme governed by the Pension Fund Regulatory and Development Authority (PFRDA). The pension fund basically aims to provide regular income to the people employed in unorganised sector post-60 years of age through regular pension. Earlier, premature exit from the APY scheme was not permitted but now one […]Continue Reading..
The Pension Fund Regulatory and Development Authority (PFRDA) has proposed to provide additional option to exit from NPS through an online process for e-NPS subscribers. Currently, an e-NPS account can be opened online, however, to exit the scheme there is no online process. According to the PFRDA press release, issued on May 27, the proposed online process […]Continue Reading..