The Pension Fund Regulatory and Development Authority (PFRDA) on August 03, 2022 has issued a circular on urgent basis to instruct to stop Facility of Payment of Subscriptions/Contribution to Tier-II Account of NPS through Credit Card as a mode of payment in the Tier-II account of NPS. Accordingly, all PoPs are advised to stop the acceptance of credit card as a mode of payment for the Tier-II account of NPS with immediate effect, under Section 14 of Pension Fund Regulatory and Development Authority Act, 2013 which aims to protect the interests of subscribers and to regulate, promote and ensure orderly growth of the National Pension System and pension schemes to which the Act applies.
[Circular No. PFRDA/2022/18/SUP-POP/02]
