Ministry of Finance STREAMLINING OF NATIONAL PENSION SYSTEM (NPS) Posted On: 10 DEC 2018 3:01PM by PIB Delhi Decision The Union Cabinet in its Meeting on 6th December, 2018 has approved the following proposal for streamlining the National Pension System (NPS). Enhancement of the mandatory contribution by the Central Government for its employees covered under NPS Tier-I from the existing 10% to 14%. Providing freedom of choice for selection of Pension Funds and pattern of investment to central government employees. Payment of compensation for non-deposit or delayed deposit of NPS contributions during 2004-2012. Tax exemption limit for lump sum withdrawal on exit has been enhanced to 60%. With this, the entire withdrawal will now be exempt from income tax. (At present, 40% of the total accumulated corpus utilized for purchase of annuity is already tax exempted. Out of 60% of the accumulated corpus withdrawn by the NPS subscriber at the time of retirement, 40% is tax exempt ...

PFRDA PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY B-14/A, Chhatrapati Shivaji Bhawan Qutab Institutional Area, Katwaria Sarai, New Delhi – 110 016. Ph: 011-26517501, 26517503, 26133730 Fax:011-26517507 Website: www.pfrda.org.in CIRCULAR PFRDA/2018/01/PF/01 Date: 4th May, 2018 Subject: Common Stewardship Code 1.  National Pension System strives to provide old age income security to its subscribers of which NPS Trust is the legal owner of the funds and the Pension Funds undertaking investment of such monies as per the investment guidelines approved by the Authority. Pension Funds are expected to shoulder greater responsibility towards the subscribers/beneficiaries by enhancing monitoring and engagement with the investee companies. Such activities are commonly referred to as ‘Stewardship Responsibilities’ of the institutional investors and asset managers and are intended to protect the subscribers’ pension wealth. Such increased engagement is also seen as an important step towar...

PFRDA Workshop benefits of National Pension System & Pension Funds under NPA architecture PFRDA conducts the Workshop with Corporates to create an awareness about the features, benefits and the process of joining National Pension System (NPS); Also to create awareness about the role of Pension Funds under NPA architecture; More than 1.80 crore subscribers join under NPS-Private sector Pension Fund Regulatory Development Agency (PFRDA) in its endeavor to promote NPS among the corporates have embarked upon conducting NPS Workshops at various locations across the country. In continuation of that exercise, a Corporate Meet was held today in Pune in association with FICCI, Maharashtra State Council and Mahratta Chambers of Commerce, Industry and Agriculture. More than 100 participants from around 55 corporates attended the workshop. PFRDA officials gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employe...