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The Pension Fund Regulatory and Development Authority (PFRDA) on Thursday permitted banks to independently set up pension funds to manage the government’s flagship National Pension System (NPS), a move aimed at enhancing competition and safeguarding subscriber interests, PTI reported.The PFRDA board “has approved, in principle, a framework to permit Scheduled Commercial Banks (SCBs) to independently…
India’s pension regulator has relaxed exit and withdrawal norms under the National Pension System (NPS), giving non-government subscribers greater flexibility over their retirement savings and extending the investment horizon to age 85, PTI reported.Under the revised rules, non-government NPS subscribers will now be allowed to withdraw up to 80% of their accumulated pension wealth at…
India’s pension regulator has relaxed exit and withdrawal norms under the National Pension System (NPS), giving non-government subscribers greater flexibility over their retirement savings and extending the investment horizon to age 85, PTI reported.Under the revised rules, non-government NPS subscribers will now be allowed to withdraw up to 80% of their accumulated pension wealth at…
In a significant overhaul of retirement withdrawal norms, exiting the National Pension System (NPS) has become more flexible for non-government subscribers. Under amended rules notified by the Pension Fund Regulatory and Development Authority (PFRDA), eligible NPS members can now withdraw up to 80 per cent of their retirement corpus as a lump sum at the…
