Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Change in NPS rule: Pension scheme investors can get in trouble if these guidelines are not followed
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • Change in NPS rule: Pension scheme investors can get in trouble if these guidelines are not followed

Change in NPS rule: Pension scheme investors can get in trouble if these guidelines are not followed

FP Trending • November 3, 2022, 12:58:59 IST
Whatsapp Facebook Twitter

Each year for the duration of their pension, each pensioner needs to submit a Life Certificate to the Pension Authority

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Change in NPS rule: Pension scheme investors can get in trouble if these guidelines are not followed

The Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory Development Authority (PFRDA) periodically take action for safeguarding the interests of those individuals who invest in the National Pension System (NPS). NPS is a voluntary retirement savings scheme which allows the subscribers to make defined contributions towards planned savings for securing the future in the form of pension. If you make an investment in NPS for retirement, you should be aware of the recently modified PFRDA and IRDAI laws. The pension regulator has revised the e-nomination procedure for workers in public and private firms. The nodal officer will now have the authority of accepting or rejecting your application in line with the new rule. At the same time, your application is going to be automatically submitted to the Central Recordkeeping Agency (CRA) and accepted if the Nodal Officer does not take action on it for 30 days. This regulation is in effect since 1 October. No separate form will be required for annuity on maturity RRDAI regularly relaxes the rules to make investment in NPS simpler. RRDAI recently did away with the separate form-filling procedure to obtain an annuity on maturity. Digital life certificate Each year for the duration of their pension, each pensioner is required to submit a Life Certificate to the Pension Authority. The Jeevan Praman service now enables the online submission of digital life certificates. Also, the insurance regulator has made the adoption of Aadhaar-verified life certificates by all insurers mandatory. Using a credit card for contribution to NPS NPS account users in Tier 2 cities will no longer be able to contribute to NPS using credit cards as of August 3, 2022, as per the PFRDA ruling. However, this feature can still be used by account holders from Tier 1 cities. NPS is an attempt towards a sustainable solution to the problem of giving adequate retirement income to every Indian citizen. The applicant should be aged between 18 to 70 years of age as on the date of submission of his/her application and should comply with the prescribed KYC norms. This scheme is considered to be the world’s lowest cost pension scheme. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

Tags
NPS PFRDA IRDAI retirement income
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV