PFRDA publishes some important orders regarding National Pension System

Pension Fund Regulatory and Development Authority has published on its website, some important and needful office orders regarding the National Pension System.

Serial number one is explained that the fund received as contribution from the employees has classified in the name of NPS instead of GPF, instructions directed to PAOs/DDOs and DTOs. The second circular saying that the exit rules from the NPS, particularly in case of death of a subscriber, the entire accumulated pension wealth (100%) would be paid to the nominee / legal heir of the employee and there would not be any purchase of annuity / monthly pension.

The next one is also describing the same as said above death benefits in the scheme of UoS including Corporates and Swavalamban scheme. The fourth circular intends to say that the processing of withdrawal requests of Non IRA compliant subscribers, who have died or resigned.

The fifth circular instructed, the additional benefits on death / disability of Government Servant covered by National Pension System (NPS).

The last one is that the annuity service providers under the National Pension System.

For more details and get the original office memorandum, please visit the official website of PFRDA, www.pfrda.org.in