SIP Facility For NPS To Be Launched Before Dussehra

Systematic Investment Plan or SIP facility in NPS or National Pension Scheme will be rolled out before Dusshera. Executive Vice President, NSDL e-Governance, Amit Sinha is quoted in a Mint report as saying "We are launching SIP in NPS very soon. We are in the final stages of looking and testing the system. NPS subscribers will not have to wait even till Dussehra to enjoy the systematic investment facility".

SIP in NPS will work similar to SIP in mutual funds. And for retail investors it will be a great way to invest in the avenue as they will be able to instruct their bank for auto-debit of some specific amount at regular intervals towards the NPS investment.

Also, the PFRDA has allowed early leavers from the scheme to join the NPS scheme again by either depositing the withdrawn amount and continue with the same PRAN or open a new NPS account with the new PRAN.

Furthermore, the nomination towards the account can also be changed online without any paper work. "We have been working on to make the processes digital but covid has accelerated the pace. We expect entire lifecycle of the NPS to be digital by the end of this calendar year," says Amit Sinha. The pension regulator is committed to make the complete process related to government pension scheme digital in next few months.

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