PFRDA seeks systematic withdrawal in NPS, tax only on interest component

The Pension Fund Regulatory and Development Authority (PFRDA) wants systematic withdrawal plans (SWPs) to be allowed in the National Pension System (NPS), so that subscribers may choose a more efficient option than annuity products.
 
Supratim Bandyopadhyay, whole-time member (finance) of the PFRDA, on Friday shared a clutch of changes that the regulatory body is seeking from the government.
 
According to people in the know, the PFRDA is expecting some of these changes to be introduced by the Centre in the upcoming Budget itself.
 
In the NPS, 40 per cent of the accumulate pension assets need to be