Friday, October 27, 2017

PFRDA takes a new initiative to increase pension coverage by increasing the incentives payable to Points of Presence (POPs), the principal distributive points for NPS

PFRDA takes a new initiative to increase pension coverage by increasing the incentives payable to Points of Presence (POPs), the principal distributive points for NPS

Pension Fund Regulatory and Development Authority (PFRDA) has taken several initiatives in the past few years to increase pension coverage in the country, notably introducing e-NPS, reducing minimum contribution levels, new investment instruments, aggressive life cycle funds etc.

PFRDA has now taken a further step in this direction by increasing the incentives payable to Points of Presence (POPs), the principal distributive points for National Pension System (NPS).

The following Table gives the details of increase in incentives:


Principal Distribution Point

Services offered

Current Charge

New Charge
POPInitial Subscriber Registration*Rs. 125/-Rs. 200/-
Initial Contribution0.25% of the contribution Min: Rs.
20/- & Max : Rs.25,000/-
0.25% of the contribution Min: Rs.
20/- & Max : Rs.25,000/-
All Subsequent Contribution
All Non-Financial TransactionRs. 20/-Rs. 20/-
Persistency*-----> Rs. 50/- per annum (only for NPS-All
Citizen)
e-NPS* (for subsequent contributions)0.05% of the contribution Min Rs 5/-
& Max Rs 5000/- (Only for NPS- All Citizen and Tier-II Accounts)
0.10% of the contribution Min Rs 10/-
& Max Rs 10000/- (Only for NPS- All Citizen and Tier-II Accounts)

*Changes effected A new incentive towards increasing persistency has been introduced under which POPs will receive an incentive of Rs. 50/- per account per annum for every account which continues to contribute a minimum of Rs 1000/- in a financial year.

PFRDA believes that the renewed incentive will help in increasing the reach of pensions in India, through the efforts of Points of presence (POPs).

PIB

0 comments:

Post a Comment

Now Trending

34% DA Order for Central Govt Employees wef 01.01.2022 - Latest CG Employees DA Order Jan 2022

 DA Order for Central Government Employees from Jan 2022 - Finmin Order 2022 Latest CG Employees DA Order Jan 2022 Dearness Allowance payabl...

Disclaimer:

All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. Our blog "Central Government Staff news" accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog.

Links to other websites that have been included on this blog are provided for public convenience only.

The blog "Central Government Staff news" is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Any suggestions write to us
centralgovernmentnews@gmail.com