Who manages the pension fund under NPS?
Who manages the pension fund under NPS?
It is administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA). On 10 December 2018, the Government of India made NPS an entirely tax-free instrument in India where the entire corpus escapes tax at maturity; the 40\% annuity also became tax-free.
Can we switch fund manager in NPS?
NPS subscribers have the option of switch units existing in a particular scheme to any other scheme and also change their pension fund managers. The option can be exercised two times in a financial year.
What is a pension fund manager?
As a pension scheme manager, your main task will be to manage a pension fund – a large pot of money paid in by companies and individuals over many years to provide benefits in retirement. You might also be involved in the strategic development of schemes, developing new schemes or managing related funds.
Can government employees invest mutual funds?
If you to save taxes along with investment, then you can invest in equity-linked savings scheme (ELSS). ELSS mutual funds are covered under Section 80C of the Income Tax Act, 1961, and offers tax deductions of up to Rs 1,50,000 a year.
Is NPS mandatory for govt employees?
Under NPS, a unique Permanent Retirement Account Number (PRAN) is generated and maintained by the Central Recordkeeping Agency (CRA) for individual subscriber. NPS is mandatorily applicable on Central Government employees (except Armed Forces) recruited on or after 01.01. 2004.
Which is best auto or active in NPS?
The difference between active choice and auto choice in NPS is self-explanatory, with the active choice providing greater say and control in the choice of asset allocation and funds. In contrast, the auto choice is suitable for people who prefer a passive investment approach.
Which NPS account is better Quora?
Based on below analysis, HDFC Pension Fund – LC25 is the best. I also suggest saving 25\% of your savings in NPS per month. HDFC pension fund has returned better returns in both LC25 and LC50 schemes over 1 year, 5 year and since inception time.