Online Submission of FATCA Self-Certification Subscribers registered on or after July 1, 2014 are mandatorily required to submit FATCA Self- certification Please follow the steps given below for online Self-Certification: Log-in to your NPS account (please visit www.cra- nsdl.com) Click on sub menu "FATCA Self-Certification" under the main menu "Transaction" Submit the required details under "FATCA/CRS Declaration Form" Click on "Submit" You are requested to read and tick "Declaration & Authorization by all customers" Click on "Confirm" Enter OTP received on your registered mobile number. After Authentication through OTP, Acknowledgment for the completion of FATCA Self-certification will be displayed. You are requested to provide Online Self-certification even if you have submitted /sent the physical Self-Certification form to CRA Kindly note, you are required to submit physical FATCA Self- certification form to your Noda...

Scrapping of New Pension Scheme Representations have been received regarding the implementation of National Pension System (NPS) which, inter alia, include demand that NPS may be scrapped and the Government may re-introduce old defined benefit pension system. Government has made a conscious move to shift from the defined benefit pay-as-you-go pension scheme to defined contribution pension scheme, now called as National Pension System (NPS), after considering the rising and unsustainable pension bill. The transition also has the added benefit of freeing the limited resources of the Government for more productive and socio-economic sectoral development. There is no proposal to replace the NPS with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004. (e): National Pension System (NPS) had been designed giving utmost importance to the welfare of the subscribers. There are a number of benefits available to the employees under NPS. Some of the benef...

Three major changes in the National Pension Scheme (NPS) including withdrawal norms Relaxation of Norms for NPS The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under: Partial withdrawal during the service: The Pension Fund Regulatory and Development Authority (PFRDA), with an objective to  meet the subscriber’s sudden financial requirement enrolled under NPS, has liberalized norms for partial withdrawals which also include reduction of requirement of minimum years of being enrolled under NPS from 10 years to 3 years from the date of joining. Suitable amendments were made through “Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017 and the same has been notified on 10.08.2017. Increase in the joining age under NPS: With an objective to allow individuals (under NPS-All Citizen Model and Corporate Sector...

Age Limit for National Pension System (NPS) Vide PFRDA (Exits and Withdrawals from National Pension System) Second Amendment Regulations, 2017, dated 6th October, 2017, the Pension Fund Regulatory and Development Authority (PFRDA) has permitted any Indian citizen who is in the age group of 18-65 years to join the National Pension System (NPS) on voluntary basis. As informed by PFRDA, a total of 1056 persons between the ages of 60-65 years have joined up to 31st January, 2018.

Maximum age of joining National Pension System (NPS) increased from the existing 60 years to 65 years under NPS - Private Sector In continuance of the several initiatives under taken by Pension Fund Regulatory and Development Authority (PFRDA) during the last few years to increase the pension coverage in the country, PFRDA has now increased the maximum age of joining under NPS-Private Sector (i.e. All Citizen and Corporate Model) from the existing 60 years to 65 years of age. Now, any Indian Citizen, resident or non-resident, between the age of 60- 65 years, can also join NPS and continue up to the age of 70 years in NPS. With this increase of joining age, the subscribers who are willing to join NPS at the later stage of life will be able to avail the benefits of NPS. NPS provides a very robust platform to the subscriber to save for his/her old age income security. Due to the better healthcare facilities and increased fitness, along with the opportunities and avenues available in the p...