New Delhi:
Subscribers of two pension schemes of the Pension Fund Regulatory and Improvement Authority will be capable of contribute by UPI as nicely, the authority mentioned on Friday.
Subscribers of Nationwide Pension System (NPS) and Atal Pension Yojana (APY) are allowed to deposit their voluntary contributions below Direct Remit (D-Remit) into Tier I/II by internet banking account by utilizing IMPS/NEFT/RTGS.
“Now, the contributions by UPI is enabled to additional ease the method of depositing contributions. The UPI deal with for the D Remit is PFRDA.15digitVirtualAccount@axisbank,” the Pension Fund Regulatory and Improvement Authority (PFRDA) mentioned in a launch.
The PFRDA mentioned contributions acquired earlier than 9:30 AM will likely be thought-about for funding on the identical day, whereas these after that will likely be counted for subsequent day funding.
The PFRDA-administered two schemes NPS and APY are focused in the direction of organised and unorganised sector staff, respectively.
Launched in December 2003, it’s necessary for central authorities staff (besides armed forces) who joined service from January 1, 2004, to subscribe to NPS. In Could 2009, it was prolonged to non-public and unorganised sector on voluntary foundation.
Company sector gives NPS to their staff on necessary or voluntary foundation.
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