Change in Operational Guidelines for NPS Tier II- Tax Saver Scheme, 2020
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. PFRDA/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:
| Sl. | Particulars | Existing guideline provision | Revised guideline/provision |
|---|---|---|---|
| 4 | Investment Choice & Pattern | Investment 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 PFRDA (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