NEW DELHI: Pension fund regulator PFRDA on Thursday stated NPS subscribers will now have the ability to partially withdraw funds from their accounts for pursuing upper schooling or putting in new industry.
The resolution was taken on the board meeting of the Pension Fund and Regulatory Development Authority (PFRDA) remaining week.
"Partial withdrawals will now be allowed to National Pension System (NPS) subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications," the PFRDA stated in a observation.
Further, NPS subscribers who wish to arrange a new industry or acquire new industry can also be allowed to make partial withdrawals from their contributions.
NPS is govt's flagship social safety programme.
The board additionally made up our minds to expanding the cap on equity investment in 'lively choice' class to 75 in step with cent from present 50 in step with cent for private sector subscribers of NPS.
However, the option of accelerating investment in equity can be to be had to subscribers till the age of 50 years.
NPS gives subscribers to design their very own portfolio in line with two investment choices -- 'Auto Choice' and 'Active Choice'.
Subscribers choosing 'lively choice' possibility, can put money into 'Alternate Investment Fund' as much as 5 in step with cent, besides the three common tools -- equity, G-Secs and corporate bonds.
At provide, NPS and Atal Pension Yojna (APY), each regulated by means of the PFRDA, have a cumulative subscriber base of over 2.13 crore with overall asset under control (AUM) of over Rs 2.38 lakh crore.
The PFRDA board additionally approved a suggestion on converting the investment grade ranking from 'AA' to 'A' for corporate bonds.
"The change is subject to a cap on investments in 'A' rated bonds to be not more than 10 per cent of the overall corporate bond portfolio of the pension funds," it stated.
This initiative will magnify the scope of investment for the fund managers whilst ensuring credit high quality, it added.
The PFRDA has taken this resolution in pursuance of a press release within the Union Budget.
An offer on adoption of Common Stewardship Code, as a measure of fine corporate governance, was additionally approved.
"Further, it was also approved that the principles enumerated in such code shall be circulated to all pension funds for compliance and implementation," the PFRDA stated within the free up.
Adoption of those Principles by means of Pension Funds will make stronger their engagement with investee corporations and get advantages subscribers, it added. NKD CS MKJ
The resolution was taken on the board meeting of the Pension Fund and Regulatory Development Authority (PFRDA) remaining week.
"Partial withdrawals will now be allowed to National Pension System (NPS) subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications," the PFRDA stated in a observation.
Further, NPS subscribers who wish to arrange a new industry or acquire new industry can also be allowed to make partial withdrawals from their contributions.
NPS is govt's flagship social safety programme.
The board additionally made up our minds to expanding the cap on equity investment in 'lively choice' class to 75 in step with cent from present 50 in step with cent for private sector subscribers of NPS.
However, the option of accelerating investment in equity can be to be had to subscribers till the age of 50 years.
NPS gives subscribers to design their very own portfolio in line with two investment choices -- 'Auto Choice' and 'Active Choice'.
Subscribers choosing 'lively choice' possibility, can put money into 'Alternate Investment Fund' as much as 5 in step with cent, besides the three common tools -- equity, G-Secs and corporate bonds.
At provide, NPS and Atal Pension Yojna (APY), each regulated by means of the PFRDA, have a cumulative subscriber base of over 2.13 crore with overall asset under control (AUM) of over Rs 2.38 lakh crore.
The PFRDA board additionally approved a suggestion on converting the investment grade ranking from 'AA' to 'A' for corporate bonds.
"The change is subject to a cap on investments in 'A' rated bonds to be not more than 10 per cent of the overall corporate bond portfolio of the pension funds," it stated.
This initiative will magnify the scope of investment for the fund managers whilst ensuring credit high quality, it added.
The PFRDA has taken this resolution in pursuance of a press release within the Union Budget.
An offer on adoption of Common Stewardship Code, as a measure of fine corporate governance, was additionally approved.
"Further, it was also approved that the principles enumerated in such code shall be circulated to all pension funds for compliance and implementation," the PFRDA stated within the free up.
Adoption of those Principles by means of Pension Funds will make stronger their engagement with investee corporations and get advantages subscribers, it added. NKD CS MKJ
Partial withdrawal in NPS allowed for these cases
![Partial withdrawal in NPS allowed for these cases]()
Reviewed by Kailash
on
May 03, 2018
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