NPS now more attractive, EPFO moves ahead on digital road
EPFO pushed for digitisation on the backbone of Aadhaar KYC authentication until it hit SC ruling roadblock
If it wasn’t for the government announcement that brought tax benefits to the National Pension System (NPS), 2018 would have been rather lacklustre. The pension fund managers who have been waiting for over two years for fresh licences—the bid for new licences happened in September 2016—continue to be disappointed. Pension fund managers are operating on a wafer-thin cost of 0.01%—one basis point—as the fund management fee and re-issuance of licences would have allowed them to increase their fee tenfold to 0.1% as was decided in the last auction.