National Pension Scheme: If you invest in NPS then there is good news for you. The Pension Fund Regulatory and Development Authority (PFRDA) is going to implement the T+0 settlement system for NPS holders.
This means that now the NPS contributions received by the Trustee Bank till 11 am (T) on any settlement day will be invested on the same day. This will give NPS investors the benefit of the Net Asset Value (NAV) of the same day.
Till now investment was done on a T+1 basis
According to the statement, till now the settlement of investments received by the Trustee Bank was done the next day (T+1).
This means that the contributions received a day before were invested the next day. PFRDA said that the contributions received till 9:30 am on any settlement day were already considered for investment on the same day.
Now, the contribution amount received till 11 am will also be invested with the NAV applicable on the same day.
Customers will get more benefits than before
According to the new statement, PFRDA has been advised the ‘Point of Presence’ (POP), Nodal Office, and NPS Trust for e-NPS to definitely make their NPS operations in line with the different revised timeline.
This will benefit the customers in the right way. Earlier the money deposited was invested on the next business day (T + 1), which caused a difference of one day.
Investment in NPS will be easier and faster than before
Now according to the new rule, this system has become better than before. Now the de-remit money deposited till 11 am will also be invested on the same day and that too as per the applicable net asset value (NAV) of that day.
The Pension Fund Regulatory and Development Authority (PFRDA) has been made some new changes to get very quick benefits in NPS. After these changes, the work of investing in NPS will become easier and faster.
Let us tell you that the pension regulator added 9.47 lakh new subscribers from non-government sectors to NPS in the year 2023-24, increasing the investment amount of NPS by 30.5%.
It increased to ₹ 11.73 lakh crore on an annual basis. The total base of NPS subscribers is 18 crore as of 31 May 2024.
As of June 20, 2024, the total enrollment under Atal Pension Yojana (APY) has exceeded 6.62 crore, out of which more than 1.2 crore enrollments were made in 2023-24.