Nomination provisions require an overhaul

Nomination rules can be justified as being products of their times, but there is no excuse for not revising them to reflect new realities

There is a need to make succession smoother and simpler by reimagining the entire nomination process. Today I shall write about nomination provisions across retirement schemes: Government Provident Fund (or GPF, applicable to government employees who started their jobs prior to 2005), National Pension System (or NPS, applicable to government employees who started their jobs 2005 onwards, private-sector employees, and the self-employed, including low-income persons under the Pension Lite programme), and Employee Provident Fund (EPF) with Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme (or EDLIS, applicable to all non-government sector employees).

Despite the vintage of the regulations