Fraudulent Collection of Funds in the name of National Pension System – Public Notice

Pension Fund Regulatory and Development Authority

First Floor, ICADR Building, Plot No 6, Institutional Area Phase II,

Vasant Kunj, New Delhi-110070 Tel. 011-26897948

PUBLIC NOTICE

It has come to notice of the Authority recently that some organizations, NGOs, societies, individuals, etc. are resorting to offer employment to students/ members of general public under and/or in the name of National Pension System. It has also been reported that some of these entities are also collecting funds from the students in the name of security money for offer of jobs or using the National Emblem and PFRDA logo on their website and other documents. It is hereby informed that PFRDA has not authorized any entity to engage in any such activity, which is illegal and fraudulent. Any entity/ or person found to be engaged in such fraudulent activities, is liable to be prosecuted in law.

The Authority is the regulatory body for National Pension System and other pension schemes under the provisions of the PFRDA Act, 2013, and detailed information pertaining to its functions are available on its website being www.pfrda.org.in.

Members of general public are hereby advised not to pay heed to or act on such false and misleading propaganda issued by such organizations/ individuals. Authority shall not be liable for any loss suffered by any person on account of any dealings with such unauthorized entities/individuals which shall be at his/ her own risk. Members of the general public are also requested to report such unauthorized activities to local authorities/ police department with a copy addressed to grc@pfrda.org.in;

This public notice is issued in interest of members of the general public.

Date: 20.08.2015

Ashish Kumar

General Manager

Source: www.pfrda.org.in

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Registration of Government employees aged 60 years and above under National Pension System (NPS)

CIRCULAR

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

22 April, 2014

PFRDA/2014/3/PDEX/12

Subject: Registration of Government employees aged 60 years and above under National Pension System (NPS)

The Authority has been receiving several requests from various governments (central & state) to approve the registration of subscribers under National Pension System (NPS) who are aged 60 years and above and which are being approved on case by case basis by PFRDA at present.

Keeping in view of the difficulties being faced by subscribers, now the Authority has decided to enroll all eligible Government employees (central & state) who are on the rolls of the government in to NPS, irrespective of the age at the time of entry, subject to the condition that the total period of contribution to NPS account shall not be more than 42 years. The NPS applications of such subscribers need to be submitted through the appropriate nodal officer of the Govt/ Deptt, in line with the procedure adopted for NPS registration for Government employees aged below 60 years. Also, the responsibility for ensuring that the employee is eligible for being covered under NPS and that the NPS contribution is not paid beyond 42 years during the entire service period for such an employee, lies with the department submitting the subscriber registration form.

This is for the information of all concerned.

Sd/ -

Venkateswarlu Peri

General Manager

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Exit guidelines under National Pension System – Option for Complete withdrawal of accumulated pension wealth by subscriber

 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

2nd April, 2014

PFRDA/2013/17 /PDEX/10

Subject: Exit guidelines under National Pension System – Option for Complete withdrawal of accumulated pension wealth by subscriber

In partial modification to circular no. PFRDA/2013/17 /PDEX/10 issued on 23rd October, the ‘request form’ is being replaced with ‘request cum undertaking’ form, as attached along with.

The subscribers wishing to exercise this option shall have to fill the attached ‘request cum undertaking form’ along with the NPS Withdrawal form while submitting the same to their DDO/PAO/DTO/POP. The subscribers who have sent the requests earlier also need to send a fresh request on the amended form for processing of their claims.

Sd/

Venkateswarlu Peri

General Manager

REQUEST CUM UNDER TAKING FORM FOR WITHDRAWAL OF TOTAL PENSION WEALTH UPON SUPERANNUATION / UPON ATTAINMENT OF 60 YEARS OF AGE AND WHERE THE TOTAL PENSION WEALTH IS EQUAL TO OR LESS THAN RS. 200, 000/-

I, …………………………………………….S/D/W/O……………………………………, aged about ……….years, residingat……………………………………………………………………, do hereby solemnly affirm and declare as under:

1. That I am a subscriber of National Pension System, holding PRAN ………………..

2. That since the total amount receivable by me as the benefit receivable upon exit from NPS is Rs. …………………., which is less than/equal to the limit of Rs. 2,00,000/-, I understand that I am eligible to opt for withdrawal of the total pension wealth under NPS rules/guidelines, Basing on the above, I hereby opt to withdraw my complete pension wealth lying to my credit in my aforesaid PRAN account being the full and final benefits receivable by me.

I also understand that with the aforesaid withdrawal, I or my family members shall not be entitled to receive any other or further benefits under the National Pension System (NPS) including the benefits as provided under Government of India notification dt. 22nd Dec, 2003.

Date:

Place:

Signature of the Subscriber

Attested by:

Signature of the PAO/DDO/DTO/POP : …………………………………………………

Name of the designated Official: ……………………………………………………………

PAO/DDO/DTO/POP Registration Number …………………………………………..

Rubber Stamp of the

PAO/DDO/DTO/POP …………………………………………………………………………

Source:http://www.pfrda.org.in/writereaddata/linkimages/ModifiedCircular2.pdf

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PFRDA Circular;Accounting Policy for Inflation Linked Bonds

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
 
CIRCULAR

File No.: PFRDA/2013/19/PFM/5

Date: 11th Dec. 2013

To,
 
All Pension Funds

Subject: Accounting Policy for Inflation Linked Bonds
 
   1. Inflation Indexed Bonds (IIB) 2013-14 issued by RBI has a fixed real coupon rate and a nominal principal value that is adjusted against inflation. Coupons will be paid on adjusted principal and on maturity, the adjusted principal or face value (whichever is higher) will be paid. For providing inflation protection, Final Wholesale Price Inflation (WPI) will be used with four months lag.

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Option to defer Annuity purchase under NPS at the time of exit.

CIRCULAR

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

PFRDA/ 2013/14/ PDEX /9

September 17, 2013

To,
All Govt depts./PAO’s/DDO/ POP’s, CRA & other stakeholders

Dear Sir/ Madam,

Sub: Option to defer Annuity purchase under NPS at the time of exit

   As per the Exit guidelines of PFRDA for National Pension System (NPS) subscribers, a subscriber on attaining the Normal Retirement Age (applicable to Govt. sector subscribers) or upon attaining 60 years – is required to compulsorily annuitize at least 40% of your pension wealth and the remaining 60% can be withdrawn as a lump sum. Also, a subscriber wishing to exit from NPS before the normal retirement age or before attainment of 60 years is allowed to exit subject to the condition that a minimum of 80% of accumulated pension wealth needs to be mandatorily utilized for purchase of annuity that provides for the monthly pension to the subscriber.

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Subscriber registration under NPS – NPS-Swavalamban

CIRCULAR

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

PFRDA/ 2013/15/POP/1

September 17, 2013

To,
All POP’s, Aggregators, CRA & other stakeholders

Dear Sir/ Madam,

Sub: Subscriber registration under NPS – NPS-Swavalamban

   Presently Swavalamban Scheme subscribers can be registered either through Aggregators or through Points of Presence (POPs). In order to streamline the system to cater to the Swavalamban scheme objectives, it has been decided that with effect from 01/10/2013, registration of NPS-Swavalamban subscribers would be allowed only through aggregators on the NPS-Lite platform. In effect, no new NPS- Swavalamban subscriber registration would be allowed through POP’s on the all citizen model (UOS) on or after 01/10/2013.

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Portability of PRAN – NPS Lite/Swavalamban to NPS – All Citizen Model and other sectors.

Pension Fund Regulatory and
Development Authority

CIRCULAR

PFRDA/2013/13 /PDEX/ 08 

              20th August’2013

Subject: Portability of PRAN – NPS Lite/Swavalamban to NPS – All Citizen Model and other sectors

   There were several requests from NPS Lite/Swavalamban subscribers seeking  porting of their PRANs from NPS Lite/Swavalamban to the All Citizen Model of NPS (UOS). PFRDA after examining the matter has approved the shifting/porting of  NPS/Lite/Swavalamban accounts to NPS-All Citizen model and other Sectors through an Inter platform shift process which is detailed as below:

   1. The subscriber has to submit the following documents to the new nodal office (POP/PAO/DDO etc) who in turn will process the application and forward the document to CRA.

   a. Duly filled in Inter platform shift (IPTR-1) form along with the duly filled in registration form of the sector to which he wishes to migrate.

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Appointment of new Trustee Bank (TB) under National Pension System (NPS)-reg.

Circular

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

PFRDA/2013/10/CRTB/1

30th April, 2013

To
All Central Government Ministries & State Governments
All PrAOs / PAOs / DTAs / DTOs
All POPs / POP-SPs / Aggregators / Corporates
All PFMs / ASPs

Dear Sir/ Madam,

Subject: Appointment of new Trustee Bank (TB) under National Pension System (NPS)-reg.

   1. All the offices are hereby informed that Axis Bank has been appointed as a new Trustee Bank in place of Bank of India (the current Trustee Bank) for National Pension System (NPS) with effect from 1st July, 2013.

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