The Pension Fund Regulatory and Development Authority (PFRDA) on November 22, 2023, issued a circular regarding options for subscribers under the NPS All Citizen Model (Tier-I), NPS Corporate Model (Tier-I), and NPS Tier-II (all subscribers) of selection of multiple Pension Funds in accordance with the asset classes (except Alternate Asset Class or Scheme A).
The following has been stated: -
•With the objective to further facilitate NPS subscribers with a 'choice of multiple pension funds and multiple schemes', an additional option of Pension Fund(s) selection/choice is being made available as under: -
(i) The facility of selection of multiple (maximum of 03) Pension Funds (PF) in accordance with the asset classes (except Alternate Asset Class or Scheme A) is available to the existing subscribers under the NPS All Citizen Model (Tier-I), NPS Corporate Model (Tier-I) and Tier-II (all subscribers).
(ii) For new subscribers (aforesaid category), this option shall be applicable three months after their registration into NPS.
(iii) This facility is available under the Active choice (asset allocation) mode only.
The detailed circular is given in the document attached below.
[Circular No. PFRDA/2023/33/REG-PF/03]
