India News | PFRDA Enables Same-day Settlement for NPS Subscribers Effective July 1

New Delhi, Jun 28 (PTI) The Pension Fund Regulatory and Development Authority has permitted T+0 settlement for National Pension System (NPS) subscribers effective July 1.

NPS contributions received by the Trustee Bank until 11 am (T) on any settlement day will be invested on the same day and the subscribers will get the benefit of same-day NAV (Net Asset Value), PFRDA said in a statement.

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Hitherto, contributions received by the Trustee Bank are invested on the next settlement day (T+1), meaning contributions received until the previous day are invested the following day, it said.

D-Remit contributions received by 9:30 am on any settlement day were already considered for same-day investment. Now, D-Remit contributions received till 11 am will also be invested on the same day with the applicable NAV, it said.

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Points of Presence (PoPs), Nodal Offices, and NPS Trust for eNPS are advised by PFRDA to align their NPS operations as per revised timelines to benefit the subscribers in a time-bound manner, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)