Pension fund regulator PFRDA is preparing to launch the new version of National Pension Scheme, NPS Balance Lifecycle Scheme. In this scheme, up to 50% allocation can be done in equity funds.
Pension fund regulator PFRDA is planning to present the National Pension Scheme (NPS) in a new look. Preparations are being made to make it more attractive. Under this, a contributor can invest 50% in equity funds till the age of 45 years. Seeing the way the craze for equity is increasing, this decision can attract contributors towards NPS. Under the current rule, the equity share starts decreasing after the age of 35 years.
NPS Balance Lifecycle Scheme
PFRDA Chairman Deepak Mohanty said in a program that NPS balance lifecycle scheme can be introduced by July, August. There will be an additional option under auto choice in this scheme. Under this option, the contributor can make equity allocation up to 50%. However, this facility will be available only till the age of 45 years.
50% investment in equity possible till the age of 45 years
In this way, the participants joining the National Pension Scheme will get the facility to allocate more investment amount in equity funds till the age of 45 years. This will help them to create a good fund till retirement. Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty said on Friday that we will bring ‘New Balanced Life Cycle Fund’ in the second quarter (July-September). This will allow more allocation to equity funds for a long time.
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