PFRDA

The government has begun searching for a successor to Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty whose term is ending in May next year. The PFRDA chairman holds office for five years or till the age of 65 years. The chairman is entitled to a consolidated salary of Rs 5.62 lakh per month without the facility of house and car, the finance ministry said while inviting applications for the post. As per the eligibility criteria mentioned in the public notice issued by the Department of Financial Services, the applicant should have a minimum of two years of residual service as of the last date of submission of applications. Applicants should be a government servant and have worked as Secretary/Additional Secretary in the Government of India or its equivalent level in a State Government for at least three years, it said. A public sector official, and has worked at least at one level immediately below the board level for at least three years or an ..

With this partnership, individual investors will be able to contribute to existing NPS accounts with the help of Bharat Connect-enabled platforms

A joint panel of sectoral regulators brainstormed on taking urgent action on spammers making promotional voice, robo and pre-recorded calls in a meeting convened by the telecom regulator Trai on Tuesday. The joint committee of regulators (JCOR) was attended by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India (Irdai), Pension Fund Regulatory and Development Authority (PFRDA), Ministry of Consumer Affairs (MoCA) and Ministry of Electronics and IT (MeitY), an official statement said. The Department of Telecom (DoT) and Home Ministry representatives also attended the meeting as special guests. The regulators deliberated on business entities making commercial voice calls using cloud-based telephony and fixed-line connection-based private exchanges, with hundreds of indicators in violation of Trai's regulations. "These entities should be migrated to the designated 140 series for making promotional call

Approved by the Union Cabinet on Saturday, the UPS kicks in from April 1, 2025

The changes ensure that the benefits of same-day investments are passed on to the subscribers as applicable

The Pension Fund Regulatory and Development Authority has permitted T+0 settlement for National Pension System (NPS) subscribers effective July 1. NPS contributions received by the Trustee Bank until 11 am (T) on any settlement day will be invested on the same day and the subscribers will get the benefit of same-day NAV (Net Asset Value), PFRDA said in a statement. Hitherto, contributions received by the Trustee Bank are invested on the next settlement day (T+1), meaning contributions received until the previous day are invested the following day, it said. D-Remit contributions received by 9:30 am on any settlement day were already considered for same-day investment. Now, D-Remit contributions received till 11 am will also be invested on the same day with the applicable NAV, it said. Points of Presence (PoPs), Nodal Offices, and NPS Trust for eNPS are advised by PFRDA to align their NPS operations as per revised timelines to benefit the subscribers in a time-bound manner, it added.

PFRDA chairman Deepak Mohanty on Friday said the NPS balance lifecycle scheme that is designed to effectively manage both risks and returns may be launched in July or August

Pension Fund Regulatory and Development Authority (PFRDA) has introduced a new security layer in the National Pension System (NPS).

NPS is an excellent product for retirement planning, provided you stay put till maturity

PFRDA Chairperson Deepak Mohanty on Thursday launched a web application developed by Zerodha Broking Limited to provide easy access to NPS for subscribers. The app offers seamless access to NPS to a wider subscriber base, the Pension Fund Regulatory and Development Authority (PFRDA) said in a statement. Mohanty said that there is merit in joining NPS at a young age to harness the benefit of compounding. NPS provides continuity to retirement saving accounts irrespective of one's employment status and is available for non-resident Indians (NRIs), it said. As youngsters are tech savvy, the facilitation by Zerodha Broking Limited would expand access to NPS, it added.

Saw 158,212 new subscribers last year compared to 201,517 during 2022

Pension Fund Regulatory and Development Authority (PFRDA) has amended regulations for Trustee Bank, and Central Recordkeeping Agency. The amendments to Trustee Bank (TB) Regulations simplify and strengthen the provisions related to implementation of fraud prevention and mitigation policy, compensation to the subscriber, invitation of application for new registration and surrender of certificate of registration, an official statement said on Thursday. Amendments to Central Recordkeeping Agency (CRA) Regulations simplify and strengthen the provisions related to the governance of CRA in line with Companies Act, 2013 and enhanced disclosure of information by CRA, it said. Both amendments were carried out earlier this month and these are in line with the 2023-24 Union Budget announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business. The other notable amendments included implementation of fraud prevention and mitigation policy by CRA to ..

NPS Trust has been established by the PFRDA for taking care of the assets and funds under the NPS

Data shows that the addition of new monthly subscribers under the corporate segment fell by approximately 25 per cent to 7,728 in November from 10,341 in October

Withdrawal made during tenure for other goals will erode retirement corpus

The Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty on Friday said the total corpus under the National Pension System and Atal Pension Yojana has crossed Rs 11 lakh crore. The milestone of Rs 11 lakh crore asset under management (AUM) was achieved on January 10, 2024, he told reporters here. The AUM has increased from Rs 10 lakh crore to Rs 11 lakh crore in 4 months 18 days (August 24, 2023 to January 10, 2024), he said, adding the private sector AUM crossed Rs 2 lakh crore. The authority in September revised the AUM target of Rs 12 lakh crore for the current fiscal. The pension authority is working on a minimum assured pension plan, and it could become a reality in the next financial year if the guarantee issued is resolved. "There are a lot of complications in determining the rate of return, what to set as the bar for return. Fund managers are also thinly capitalised. So, you have to keep a check on their liabilities also," Mohanty said. Asked

The simplification in PoP regulations is in line with the Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business

PFRDA says current amount may not help attract new Atal Pension subscribers

The aspiration is to take it to 14 per cent over the period to encourage wider acceptance of pension

In a circular dated October 27, PFRDA proposed to provide the option of phased withdrawal of the lump sum through Systematic Lump Sum Withdrawal (SLW) facility