Good news for National Pension System and Atal Pension Yojana subscribers: PFRDA to begin e-KYC services
4 years, 1 month ago

Good news for National Pension System and Atal Pension Yojana subscribers: PFRDA to begin e-KYC services

India TV News  

The Pension Fund Regulatory and Development Authority will soon begin undertaking e-KYC services for National Pension System and Atal Pension Yojana subscribers. National Pension System and Atal Pension Yojana are the two flagship schemes of the PFRDA. PFRDA said it has enabled various digital enablers such as OTP-based authentication, paperless on-boarding, e-sign-based authentication, video customer identification to facilitate remote on-boarding, online exit tools, online enrolment for government sector subscribers, among others. READ MORE: National Pension System Vs Atal Pension Yojana: Which is better and why

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History of this topic

Atal Pension Yojana: Step-by-step guide on how to apply
1 month, 1 week ago

Atal Pension Yojana: Step-by-step guide on how to apply

India Today  

The Atal Pension Yojana is one of the important planners of the Prime Minister Narendra Modi-led central government, and its primary aim is to set up a holistic system of social security for the entire population of the country, especially for the poor, disadvantaged classes and unorganised sector workers. ATAL PENSION YOJANA: BENEFITS After reaching the age of 60, members …

How AI and digitalisation can make India's pension schemes more accessible and efficient
2 months, 1 week ago

How AI and digitalisation can make India's pension schemes more accessible and efficient

Live Mint  

India’s pension sector has historically been limited in scope, with coverage predominantly available to government employees and a small fraction of the private-sector workforce. These barriers were particularly significant for India’s rural population, which struggled to access pension schemes due to limited infrastructure and awareness. AI tools like machine learning can analyse how individuals interact with pension systems, helping develop …

New pension platform to ease payouts: Minister
4 months, 1 week ago

New pension platform to ease payouts: Minister

Hindustan Times  

The labour ministry will switch to a centralised pension-payment system from 2025, allowing retirees to receive monthly payouts from any bank or its branches in any location throughout the country, for which a large-scale test run was recently carried out. Mansukh Mandaviya The new platform for subscribers of the Employees’ Provident Fund Organisation, the state-run retirement fund manager, is aimed …

Pension Planning: Can Unorganised Sector Workers Open NPS Account?
7 months ago

Pension Planning: Can Unorganised Sector Workers Open NPS Account?

News 18  

NPS Swavalamban was a government-backed pension scheme aimed at providing financial security to the unorganised sector. While existing NPS Swavalamban account holders could migrate to APY, the latter scheme has become the primary option for individuals seeking a government-backed pension. NPS Swavalamban and Atal Pension Yojana : The Link NPS Swavalamban and APY are both government-backed pension schemes aimed at …

Budget 2024: Govt may double minimum guaranteed amount under Atal Pension Yojana
8 months, 1 week ago

Budget 2024: Govt may double minimum guaranteed amount under Atal Pension Yojana

India TV News  

Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana. Proposals to make scheme more attractive As of June 20, there have been more than 66.2 million enrollments in the Atal Pension Yojana, with 12.2 million new accounts added in the financial year 2023-24 alone. Economically deprived …

Do you want to exit National Pension Scheme? Follow these steps
2 years ago

Do you want to exit National Pension Scheme? Follow these steps

Hindustan Times  

The Pension Fund Regulatory and Development Authority, the regulatory body which oversees the regulation of pensions in India, has announced making it mandatory to submit know your customer documents for seamless exit and annuity of the National Pension Scheme subscriber. In a statement, the PFRDA said in collaboration with Insurance Regulatory and Development Authority of India had simplified the process …

PFRDA makes mandatory upload of withdrawal/ KYC documents to exit from NPS
2 years, 1 month ago

PFRDA makes mandatory upload of withdrawal/ KYC documents to exit from NPS

Live Mint  

The Pension Fund Regulatory & Development Authority has made the mandatory upload of withdrawal/ KYC documents to enable seamless processing of exit and annuity for the benefit of National Pension System subscribers. NPS withdrawal documents According to PFRDA, the NPS subscribers and the associated nodal officers/POPs/ corporate need to ensure that the following documents uploaded in the respective CRA user …

Atal Pension Yojana new rule: These investors cannot join from October
2 years, 7 months ago

Atal Pension Yojana new rule: These investors cannot join from October

Live Mint  

Atal Pension Yojana: The central government has amended the Atal Pension Yojana investment rules, which will become applicable from 1st October 2022. In the changed Atal Pension Yojana rules, an income tax payer will not be eligible to open Atal Pension Yojana account from 1st October 2022. The notification issued by the Ministry of Finance says, "Provided that from 1st …

PFRDA Looks to Offer Guaranteed Pension Programme Under NPS
2 years, 7 months ago

PFRDA Looks to Offer Guaranteed Pension Programme Under NPS

News 18  

Bengaluru, Aug 5: The Pension Fund Regulatory and Development Authority is mulling over a guaranteed pension programme under the National Pension System and it may launch it from September 30. “Over a 13-year period, we have given a compounded annual growth of more than 10 per cent… 10.27 per cent to be precise. The PFRDA chairman said the size of …

Subscribers Under PFRDA Pension Schemes Jump 24% to Over 5.32 Crore at May-End
2 years, 9 months ago

Subscribers Under PFRDA Pension Schemes Jump 24% to Over 5.32 Crore at May-End

News 18  

Subscribers under the two flagship pension schemes administered by PFRDA rose by over 24 per cent from a year ago to 5.32 crore as of May 31, 2022, official data showed on Monday. “The number of subscribers in various schemes under the National Pension System rose to 531.73 lakh by the end-May 2022 from 428.56 lakh in May 2021 showing …

Now open APY account online using Aadhaar eKYC without visiting a bank branch
2 years, 10 months ago

Now open APY account online using Aadhaar eKYC without visiting a bank branch

Live Mint  

Now you can easily open an Atal Pension Yojana account online by just using your Aadhaar number and without the need to visit a bank branch. “eAPY offers seamless digital enrollment without the need to visit one’s bank branch, thus saving time, effort, cost and offers a great convenience,” as per a Pension Fund Regulatory and Development Authority circular. To …

This Govt Scheme Offers Fixed Pension of up to Rs 5000 Per Month. Know Eligibility, Benefits
2 years, 10 months ago

This Govt Scheme Offers Fixed Pension of up to Rs 5000 Per Month. Know Eligibility, Benefits

News 18  

Atal Pension Yojana: The total enrollments under the government’s retirement benefits scheme Atal Pension Yojana have crossed 4.01 crore as on March 2022 out of which more than 99 lakh APY accounts were opened during FY 2021-22, the finance ministry has recently notified. The Atal Pension Yojana, or APY scheme offers a foxed pension of up to Rs 5,000 to …

Atal Pension Yojana enrolments cross four crore, says Union Ministry of Finance
2 years, 11 months ago

Atal Pension Yojana enrolments cross four crore, says Union Ministry of Finance

Firstpost  

Atal Pension Yojana is the guaranteed pension scheme of the Government of India administered by the Pension Fund Regulatory and Development Authority New Delhi: Over 99 lakh Atal Pension Yojana accounts were opened in the financial year ended March 2022 taking the total enrolments under the scheme to 4.01 crore, the Union Ministry of Finance said on Thursday. Out of …

EPFO’s pension scheme likely to get a reboot
3 years, 1 month ago

EPFO’s pension scheme likely to get a reboot

Live Mint  

Retirement fund body Employees’ Provident Fund Organisation is toying with the idea of bringing out a new pension product for organised sector workers not covered under the Employees’ Pension Scheme, 1995. Public Provident Fund: PPF is a government-backed savings vehicle with quarterly fixed returns determined by the government. We showcase some of the key differences between NPS and PPF: National …

Customers can now subscribe to Atal Pension Yojana via Aadhaar eKYC: PFRDA
3 years, 4 months ago

Customers can now subscribe to Atal Pension Yojana via Aadhaar eKYC: PFRDA

The Hindu  

To expand its subscriber base and simplify the on-boarding process further, pension fund regulator PFRDA has now allowed Aadhaar eKYC as an additional option to add customers under its flagship pension scheme Atal Pension Yojana. "Now in order to further increase the outreach and simplify the process of subscription, CRA would be providing digital on-boarding based through Aadhaar eKYC as …

Pension Rule Change: Now, you can Open Atal Pension Account Online; How to Do it
3 years, 4 months ago

Pension Rule Change: Now, you can Open Atal Pension Account Online; How to Do it

News 18  

Pension Rule Change: Now, you can Open Atal Pension Account Online; Know How to Do itPension Fund Regulatory and Development Authority of India or PFRDA has on Wednesday sent a notification that has brought much relief to those who want to open Atal Pension Yojana. It has said that in order to simplify the process to enroll to the Atal …

Atal Pension Yojana Dominates Social Security Scheme with 66% Subscriber Base
3 years, 6 months ago

Atal Pension Yojana Dominates Social Security Scheme with 66% Subscriber Base

News 18  

Atal Pension Yojana has emerged as the most popular social security scheme under the National Pension System with over 2.8 crore subscribers, mainly from the non-metro centres. Out of 4.2 crore National Pension System subscribers, over 66 per cent or 2.8 crore opted for the APY at the end of 2020-21, says the annual report of the National Pension Systems …

NPS Rule Change: Now, Withdraw Full Contributions Without Buying Annuity; Check Conditions Here
3 years, 9 months ago

NPS Rule Change: Now, Withdraw Full Contributions Without Buying Annuity; Check Conditions Here

ABP News  

New Delhi: Here is a news for NPS subscribers looking to withdraw their corpus! In a notification, the Pension Fund Regulatory and Development Authority has allowed subscribers to withdraw the entire accumulated pension wealth without purchasing annuity if the pension corpus is less than Rs 5 lakh. According to the existing rule, NPS subscribers with a corpus of over Rs …

PFRDA permits withdrawal of pension corpus of Rs 5 lakh without buying annuity
3 years, 9 months ago

PFRDA permits withdrawal of pension corpus of Rs 5 lakh without buying annuity

India TV News  

The Pension Fund Regulatory and Development Authority has allowed subscribers to withdraw the entire accumulated pension wealth without purchasing annuity if the pension corpus is less than Rs 5 lakh. Currently, NPS subscribers having a corpus of over Rs 2 lakh at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by …

National Pension System Vs Atal Pension Yojana: Which is better and why
4 years, 2 months ago

National Pension System Vs Atal Pension Yojana: Which is better and why

India TV News  

When we hear the word "pension", the first thing that comes to mind is guaranteed income after retirement. The two hugely popular schemes are -- National Pension System and Atal Pension Yojana. While the NPS was launched in 2004 by the Atal Bihari Vajpayee government, the APY was introduced by the Modi government in 2015 that focuses mainly on the …

Atal Pension Yojana gets over 52 lakh new subscribers in FY21 so far
4 years, 2 months ago

Atal Pension Yojana gets over 52 lakh new subscribers in FY21 so far

India TV News  

Over 52 lakh new subscribers have joined Atal Pension Yojana during 2020-21 so far, taking the total enrolment under the government's social security scheme to 2.75 crore at end-December, an official release said. APY is a guaranteed pension scheme of the government which offers triple benefits to subscribers on attaining 60 years of age. Despite the unprecedented challenges poised due …

PFRDA Provides Online Option to Subscribers to Exit from National Pension System
4 years, 2 months ago

PFRDA Provides Online Option to Subscribers to Exit from National Pension System

News 18  

Pension fund regulator PFRDA on Wednesday said the subscribers can now use the online mode also to exit from the National Pension System. The subscribers are required to submit the NPS withdrawal forms along with other supporting documents for authorization by POPs, the Pension Fund Regulatory and Development Authority said. "Now in addition to the existing offline process as mentioned …

PFRDA provides online option to subscribers to exit from NPS
4 years, 2 months ago

PFRDA provides online option to subscribers to exit from NPS

Live Mint  

Pension fund regulator PFRDA on Wednesday said the subscribers can now use the online mode also to exit from the National Pension System. The subscribers are required to submit the NPS withdrawal forms along with other supporting documents for authorization by POPs, the Pension Fund Regulatory and Development Authority said. "Now in addition to the existing offline process as mentioned …

With Over 3.68 Crore Subscribers, PFRDA Pension Corpus Touches Nearly Rs 5 Lakh Crore
4 years, 6 months ago

With Over 3.68 Crore Subscribers, PFRDA Pension Corpus Touches Nearly Rs 5 Lakh Crore

News 18  

The total assets under management of the National Pension System and the Atal Pension Yojana are approaching towards a corpus of Rs 5 lakh crore, Pension Fund Regulatory and Development Authority chairman Supratim Bandyopadhyay said on Friday. Still, about 83 per cent of the total assets are from the central and state government employees," Bandyopadhyay said at the 22nd CII …

NPS account opening gets cheaper with e-PRAN card
4 years, 8 months ago

NPS account opening gets cheaper with e-PRAN card

Live Mint  

National Pension System subscribers can now opt for e-PRAN card at cheaper rates. the account opening charges payable to Central Record keeping Agencies, it has now been decided that a subscriber may, either opt for physical PRAN card or e-PRAN along with the option to receive welcome kit as well, either physically or through email," PFRDA said in a circular. …

NPS account opening becomes easier with OTP-based authentication. How to use it
4 years, 8 months ago

NPS account opening becomes easier with OTP-based authentication. How to use it

Live Mint  

Opening a National Pension System account has become easier than ever. The Pension Fund Regulatory and Development Authority has announced that the subscribers can open their new NPS accounts through one-time password based authentication process. It has also permitted Aadhaar-based offline paperless KYC process for the new customers while opening a NPS account. Here's how subscribers can open a NPS …

7 benefits of National Pension System
4 years, 9 months ago

7 benefits of National Pension System

India Today  

The Central Government has introduced the National Pension System with effect from January 01, 2004. Pension Fund Regulatory and Development Authority, the regulatory body for NPS, has appointed NSDL as Central Recordkeeping Agency for National Pension System. National Pension System, Regulated By PFRDA, is an important milestone in the development of a sustainable and efficient voluntary defined contribution pension system …

PFRDA stops auto debit of contributions for 2.23 crore Atal Pension Yojana users
4 years, 11 months ago

PFRDA stops auto debit of contributions for 2.23 crore Atal Pension Yojana users

Live Mint  

In a bid to provide relief to the unorganised sector affected by the Covid 19 driven economic shutdown, the PFRDA has halted auto debit of monthly contributions for the government’s flagship Atal Pension Yojana till 30th June. The APY offers a minimum guaranteed monthly pension ranging from ₹1,000 per month to ₹5,000 per month from the age of 60. Subscribers …

Govt to allow Atal Pension subscribers for partial withdrawal from PF fund amid Covid-19: PFRDA
4 years, 11 months ago

Govt to allow Atal Pension subscribers for partial withdrawal from PF fund amid Covid-19: PFRDA

Live Mint  

The government is planning to allow subscribers of the Atal Pension Yojana for a partial withdrawal from employees' contribution as the current lockdown to battle Covid-19 has crippled the monetary power of workers in the unorganised sector. The government circular would be out in a day or two for adding Covid-19 as one of the conditions for partial withdrawal from …

Govt to Allow Atal Pension Yojana Subscribers for Partial Withdrawal from PF fund Amid COVID-19, Says PFRDA
4 years, 11 months ago

Govt to Allow Atal Pension Yojana Subscribers for Partial Withdrawal from PF fund Amid COVID-19, Says PFRDA

News 18  

The government is planning to allow subscribers of the Atal Pension Yojana for a partial withdrawal from employees' contribution as the current lockdown to battle Covid-19 has crippled the monetary power of workers in the unorganised sector. The government circular would be out in a day or two for adding Covid-19 as one of the conditions for partial withdrawal from …

Now Overseas Citizens of India can also subscribe to National Pension System: Govt
5 years, 4 months ago

Now Overseas Citizens of India can also subscribe to National Pension System: Govt

Firstpost  

New Delhi: Overseas Citizens of India will now be eligible to apply for the National Pension System at par with NRIs, the government said on Wednesday. Pension Fund Regulatory and Development Authority has now permitted Overseas Citizen of India to enroll in NPS at par with Non-Resident Indians vide circular dated 29 October, 2019, the Finance Ministry said in a …

Govt considering hike in pension age limit under Atal Pension Yojana
5 years, 8 months ago

Govt considering hike in pension age limit under Atal Pension Yojana

India TV News  

The Pension Fund Regulatory and Development Authority has submitted a proposal to increase the limit of pension and age which the government is looking into. The proposal, under the Atal Pension Yojana, is being examined by the government, said Union Minister of Finance Corporate Affairs, Nirmala Sitharaman in a written reply to Parliament. The APY is based on defined benefit …

Atal Pension Yojana crosses one crore subscribers in three years; collects Rs 3,950 crore
6 years, 10 months ago

Atal Pension Yojana crosses one crore subscribers in three years; collects Rs 3,950 crore

Firstpost  

A guaranteed pension scheme for citizens of India announced by the government on 9 May, 2015, Atal Pension Yojana is focused on the unorganised sector workers which constitute more than 85 percent of the workforce New Delhi: Atal Pension Yojana has added over 1 crore subscribers since its launch in May 2015, the Pension Fund Regulatory and Development Authority said …

Pension fund regulator PFRDA hikes incentives for distributors to promote NPS
7 years, 4 months ago

Pension fund regulator PFRDA hikes incentives for distributors to promote NPS

Live Mint  

To expand pension coverage in the country, financial institutions and post office branches will be paid better for enrolling people in pension schemes, the finance ministry said on Friday. The Pension Fund Regulatory and Development Authority has increased the incentives payable to points of presence, the principal distributive points for the National Pension System, the ministry said in a statement. …

PFRDA makes NPS account opening paperless if opened via Aadhaar
8 years, 2 months ago

PFRDA makes NPS account opening paperless if opened via Aadhaar

India TV News  

In effort to simplify the process, Pension Fund Regulatory and Development Authority has taken a big step to make NPS account opening completely paperless. “It has now been decided…that in case the Point-of Presence integrate the e-Sign…within their applications for online account opening for NPS, the requirement of sending the physical application form to the Central Record keeping Agency by …

EPFO’s Aadhaar-linked withdrawal, pension services by Mar 2017
8 years, 5 months ago

EPFO’s Aadhaar-linked withdrawal, pension services by Mar 2017

Live Mint  

New Delhi: Retirement fund body EPFO will launch a host of Aadhaar-linked online services such as PF withdrawal and pension fixation for its 4 crore subscribers by the end of this fiscal. “The Employees’ Provident Fund Organisation will soon launch a host of Aadhaar-linked services like PF withdrawals and pension fixation for its subscribers to facilitate such faster transactions for …

Pension watchdog PFRDA for auto-enrolment option
8 years, 6 months ago

Pension watchdog PFRDA for auto-enrolment option

Live Mint  

New Delhi: Looking to bring the informal sector under pension coverage, the board of the Pension Fund Regulatory and Development Authority has approved a concept note wherein employers will need to automatically enrol workers under the Atal Pension Yojana. PFRDA initially plans to target Anganwadi workers, accredited social health activists, construction workers, those working in small-scale industries and non-governmental organizations …

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