The finance ministry is examining a proposal by the PFRDA to exempt NPS withdrawals from payment of tax

The finance ministry is examining a proposal by the Pension Fund Regulatory and Development Authority (PFRDA) to exempt national pension system (NPS) withdrawals from payment of tax, so as to bring it on par with the employee provident fund (EPF) scheme.This will provide a level-playing field for the two pension schemes."We have made a proposal to the finance minister ahead of the Budget, where exemption of NPS withdrawals from tax is one of...

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NPS to submit applications online for settlement of withdrawal claims from April 1: PFRDA

Pension fund regulator PFRDA has made it mandatory for the subscribers of New Pension System (NPS) to submit applications online for settlement of withdrawal claims from April 1 next year.According to a PFRDA directive, no request in physical form would be entertained with effect from April 1, 2016."It has...Been decided that with effect from April 1, 2016 only such withdrawal requests raised on online platform will be accepted at CRA (Central...

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National Pension System (NPS) has soared to Rs 90,327 crore with the 1.15 crore subscribers

The total corpus of National Pension System (NPS) has soared to Rs 90,327 crore with the contribution of nearly 1.15 crore subscribers, the Finance Ministry said on Tuesday. The total assets under management (AUM) are worth Rs 1.09 lakh crore while AUM per subscriber on average is Rs 95,000, a finance ministry statement said. "NPS had 1.15 crore subscribers with a total corpus of Rs 90,327 crore as on January 23, 2016," it said. NPS subscribers...

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