NPS withdrawal timelines shortened. Here are the new rules
The NPS account holders who will benefit from the reduction in the timeline are -- subscribers associated with Protean eGov Technologies Ltd CRA, and KFin Technologies Ltd & CAMS CRAs.
Pension Fund Regulatory and Development Authority (PFRDA) intermediaries have decided to reduce the timelines of various transactions under the National Pension Scheme (NPS) to provide a better subscriber experience and fulfil their evolving needs. That said, PFRDA reduces the timeline for execution of withdrawal requests under the NPS account to a T+2 basis from a T+4 basis.