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Centre's contribution to NPS hiked to 14% of basic salary

Monday, December 10, 2018, 8:04 PM

In a bid to make retirement income scheme more attractive for central government employees, the government has agreed to chip in a higher 14 per cent of the basic salary of an individual as its contribution to the National Pension System (NPS), a top source said. The move would benefit over 36L central government employees. However, in 2009, it was opened to all sections.
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NPS subscribers allowed to partially withdraw fund for setting up biz

Friday, May 4, 2018, 8:18 AM

Pension fund regulator PFRDA has said National Pension System (NPS) subscribers will now have the option to partially withdraw funds for setting up new business or pursuing higher education. NPS and Atal Pension Yojana, both regulated by the PFRDA, currently have a cumulative subscriber base of over 2.13 crore with total asset under management of over Rs 2.38 trillion.
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Pension regulator makes bank account, mobile mandatory for NPS

Friday, April 20, 2018, 6:39 PM

The Pension Fund Regulatory and Development Authority announced that it has made bank account details and mobile number compulsory for subscribers of the NPS. A Finance Ministry release said the pension regulator has also made the Foreign Account Tax Compliance Act and the Central Registry of Securitization Asset Reconstruction and Security Interest mandatory for new and existing subscribers, in compliance with the PMLA guidelines.

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