The Pension Fund Regulatory and Development Authority (PFRDA) on February 07, 2023, issued Minimum Timelines for Maximum Subscribers' benefits - Reduction in Turn Around Time to perform various activities from T+4 to T+2.
The following has been stated namely: -
• The intermediaries of PFRDA have significantly enhanced the system interface and IT capabilities to reduce the timelines of various transactions for providing a better subscriber experience to fulfill their evolving needs.
• PFRDA added more services in the bouquet under T+2 timelines. The Timeline for processing Partial Withdrawal requests has also been reduced to T+2 across all CRAs now.
• The updated list of CRA-wise activities that are processed on a T+2 basis is provided in the Annexure.
• The reduced timelines will be introduced in a phased manner in the future.
[Notification No. PFRDA/2023/06/SUP-CRA/03]
