NPS Rules: Here we are telling you about four such rules which have been changed recently. These rules are already in place, so if you must, you should be aware of them.
NPS Rules: There have been many major changes in the rules for those investing in the National Pension Scheme. Pension Fund Regulatory Development Authority (PFRDA) and Insurance Regulatory and Development Authority of India (IRDAI) have amended several rules for NPS investors. You should know about them so that you do not face any difficulties in the future. Here we are telling you about four such rules which have been changed recently. These rules are already in place, so if you must, you should be aware of them.
Digital Life Certificate
Pensioners can now submit life certificate online. Every year pensioners have to submit a digital life certificate to continue receiving their pension. Now they can submit it online through Jeevan Pramaan service. Apart from this, IRDAI has asked insurance companies to take a verified life certificate from Aadhaar.
What are the new guidelines regarding NPS nomination
The process of e-nomination has changed for investors working in both government and private companies. Regarding the process of e-nomination, the nodal officer has been empowered to approve or reject the application. But if he does not take any action on your application for 30 days, then your application will go to the Central Recordkeeping Agency and it will be considered approved.
No separate form will have to be filled for annuity on maturity
IRDAI has changed the rules to make investing in NPS easier. Now no separate form will have to be filled for annuity on maturity of pension fund.
Payment will not be made by credit card
Subscribers in NPS account have this facility that they can contribute the payment in their account by credit card also. But now the subscribers of Tier-2 account will not be able to fill their contribution through credit card. Tier-2 account holders will continue to get this facility.
