The pension fund regulator said that the contribution received before 9.30 am will be treated as investment made on the same day, while the amount received after that time will be counted for the next day’s investment.
There is good news about two pension schemes of pension fund regulator PFRDA – National Pension System (NPS) and Atal Pension Yojana (APY). Now the subscribers associated with the scheme will also be able to make their contribution through UPI. Apart from this, the pension fund regulator said that the contribution received before 9.30 am will be treated as investment made on the same day while the amount received after that time will be counted for the next day’s investment.
Till now subscribers could send their voluntary contribution directly through NetBanking account using IMPS/NEFT/RTGS but now the scope has been extended.
About the scheme: Let us tell you that the NPS scheme is operated for the employees of the organized sector. This scheme, implemented since 2004, is mandatory for central government employees (except armed forces). This is applicable to only those employees who have joined the service with effect from 1st January 2004. In May 2009, it was extended to the private and unorganized sector on a voluntary basis.
At the same time, Atal Pension Yojana or APY is for the employees of the unorganized sector. The subscribers of the 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.
