NPS latest news: new rules of national pension system released circular

As soon as Prime Minister Narendra Modi came into the government, many such schemes were made, in which people could be added under different schemes and they could be given benefits according to their needs. One of these is also the National Pension System, which is also known as NPS.

Recently there has been a change in the rules of this national pension system, due to the new rules in this scheme, from now on, there will be an option to change the Central Record Keeping Agency twice a year. Earlier this facility could only be used once a year. The Pension Fund Regulatory and Development Authority (PFRDA) has informed this through a circular on Friday.

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NPS latest news: new rules of national pension system issued circular
On 17 April 2020, the Pension Fund Regulatory and Development Authority (PFRDA), through a circular, said that it has been decided that from now on CRA’s can be changed twice a year. Investments under the All Citizen model were till now only changed once in a financial year. Along with this, the subscribers who are engaged in the scope of the appointed employee relationship. He can also select CRA’s more than 2 times. It also depends on the employer whether he wants to change the CRA or not.

Further the circular states that the subscriber who has already selected CRA 2 times in 1 year will get the option to choose CRA more than 2 times, but for this also some rules and conditions apply. It depends on whether their employer falls under the government or cooperative model.

Similarly, if an NPS holder has become an NPS member through his employer, he can also choose his CRA’s more than 2 times in a financial year. Not only this, its proposal also said that even after changing the CRA, the National Pension System Transaction Statement will also reflect the transactions through the old CRA.

Earlier on April 13, the company had proposed onboarding process through three lines under the online reservation model. Under this, CRA will also get the facility of online photo signature etc.

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