NPS Rules: There is good news for those investing in two pension schemes of pension fund regulator PFRDA. NPS scheme is operated for organized sector employees.
NPS Rules: If you also invest in any of the National Pension System (NPS) or Atal Pension Yojana (APY), then it is very important for you to stay updated with this news. There is good news for those investing in two pension schemes of pension fund regulator PFRDA. Under the new rule, now the subscribers associated with the scheme will also be able to make their contribution through UPI Payment System.
Those investing before 9.30 am will be in profit,
apart from this, it was told by the pension fund regulator that if the subscriber makes his contribution from 9.30 am, then it will be considered as investment made on the same day. At the same time, the amount received after 9.30 will be calculated in the next day’s investment. Till now the subscriber could send the voluntary contribution directly through Internet Banking using IMPS / NEFT / RTGS (IMPS / NEFT / RTGS). But now its scope has been extended.
What is NPS
NPS scheme is operated for organized sector employees. This scheme, implemented since 2004, is mandatory for central government employees (except armed forces). This is applicable to only those employees who have joined service on or after January 1, 2004. In May 2009, it was extended to the private and unorganized sector on a voluntary basis.
A big change in Atal Pension Yojana,
on the other hand, Atal Pension Yojana (APY) is for the employees working in the unorganized sector. The subscribers of this scheme get a minimum pension of Rs 1,000 to Rs 5,000 monthly with a guarantee after attaining the age of 60 years depending on their contribution. Crores of people are connected with both these schemes. Recently, a major change has been made in the Atal Pension Yojana by the government.
This rule will be applicable from October 1
A notification has also been issued by the Finance Ministry regarding this change. Under the new rule, income tax payers will no longer be able to apply for Atal Pension Yojana (APY). According to the notification of the Ministry of Finance, this rule will be applicable from October 1, 2022. After this, any person who is an income tax payer according to the Income Tax Act cannot apply.
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