We've written to CBDT to allow one-time funds portability: PFRDA Chairman

In that case, each superannuation fund has to approach the CBDT and seek its approval in each case: Hemant Contractor

While the Central Board of Direct Taxes (CBDT) has issued a clarification that money transferred from superannuation funds to the National Pension System (NPS) are exempt from the income tax, the funds still need to seek approval from the commissioner of income tax (CIT) for this portability. Pension Fund Regulatory and Development Authority (PFRDA) Chairman Hemant Contractor tells Indivjal Dhasmana that this rule has to be changed for smooth portability. Edited excerpts:

Have you approached the government on changing rules for hassle-free transfers of funds from superannuation funds to the NPS?

We have written to the CBDT to clarify some