Change in Operational Guidelines for National Pension Scheme Tier II – Tax Saver Scheme, 2020 NPS – TTS

NPS Tax Saver Scheme Tier II- Tax Saver Scheme, 2020 (NPS – TTS) – Change in Operational Guidelines

PFRDA - NPS

RBE No. 93/2021.
GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAYA)
(RAILWAY BOARD)

No. 2016/F(E)III/1(1)/3

New Delhi, dated:22.12.2021.

The GMs/Principal Financial Advisors,
All Zonal Railways/Production Units (etc),
(As per mailing list)

Sub: Change in Operational Guidelines for National Pension Scheme Tier II – Tax Saver Scheme, 2020 (NPS – TTS) -reg..

A copy of Pension Fund Regulatory and Development Authority (PFRDA)’s circular No. PFRDA/2021/47/REG-PF/09 dated 30.11.2021 on the above subject is enclosed for information and compliance. The instructions contained in this circular shall apply mutatis mutandis on Railways also. Pension Fund Regulatory and Development Authority’s circular No.PFRDN10/01/1/0003/2018-PDES dated 17th August, 2020 mentioned in the enclosed circular of PFRDA was adopted on Railways vide letter of even number dated 21.09.2020.

2. Please acknowledge receipt.

(G.Priyd Sudarsani),
Director, Finance (Estt.),
Railway Board.
DA: One

पेंशन निधि विनियामक एवं विकास प्राधिकरण
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

PFRDA/2021/47/ REG-PF/09

Date: 30th November, 2021

CIRCULAR

To
CEOs of All Pension Funds
Dear Sir/Madam,

SUBJECT: Change in Operational Guidelines for National Pension Scheme Tier II- Tax Saver Scheme, 2020 (NPS – TTS) -reg.

Reference is invited to the Operational Guidelines for National Pension Scheme Tier II- Tax Saver Scheme, 2020 (NPS – TTS) issued vide File No. PERDA/10/01/1/ 0003/2018-PDES dated 17th August, 2020.

2. In partial modification to the above ‘mentioned guidelines, it has been decided by the Authority to make the following change:

SlParticularsExisting guideline/ provisionRevised guideline/ provision
4Investment Choice & PatternInvestment limit:
Cash/ Money Market/ Liquid MFs – Upto 5%
Investment limit:
Cash/ Money Market/ Liquid MFs – Upto 10%

3. Further, the above exposure norm shall not be applicable till the scheme corpus is below Rs. 5 Crores.

4. Subject to the aforementioned revision, all other terms and conditions as contained in the aforementioned guidelines shall remain unchanged. All Pension funds are called upon to note these changes and ensure necessary compliance.

5. This circular is issued in exercise of powers of the Authority under Sub-clause (b) of sub-section (2) of Section 14 read with Section 23 of the PFRDA Act, 2013 and sub-regulation (1) of Regulation 14 of PEFRDA (Pension Fund) Regulations, 2015 as amended from time to time.

6. The revision shall be effective from the date of this circular.

Yours Sincerely,
(A. K. Soni)
Executive Director

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