PFRDA:
The Pension Fund and Regulatory Development Authority (PFRDA) may introduce some changes in NPS to boost the scheme.
A five member committee is constructed to review the implementation scheme and this committee is expected to give its report before the end of this month.
To boost investments in the scheme, Union finance minister Pranab Mukherjee today launched Swavalamban, a form of NPS. Under the scheme, the government will contribute Rs 1,000 per year to each NPS account opened in 2010-11. This will be available for persons who join NPS, with a minimum contribution of Rs 1,000 and a maximum contribution of Rs 12,000 per annum during this financial year.
source: business-standard.com
More on NPS:
Share with the world !!
Only 6 months to take the advantage of account if it is 2010-11 FY for opening account under "Swalambhan" scheme.Can any one clear wheteher this contribution by the NPS employee+govt share is Tax exempted?
Dear Sir,
Recently I have got a GOVT. job. I have a NPS account.
Previously I was working in private sectors. So I have EPF accounts in different companies. Is it possible to transfer all my EPF amount to my NPS account, TYRE-I type.
If yes please suggest me the procedure.