PFRDA Circular: Change of Pension Fund and Asset Allocation by NPS subscribers

Under All Citizen Model and NPS Corporates Sector Model, the subscriber or employer, as the case may be, shall have the option to change the investment choice / asset allocation four times in a financial year.

CIRCULAR

Circular No: PFRDA/2022/02/PDES/01

Date: 27th January 2022

To
All Stakeholders under NPS

Subject: Change of Pension Fund and Asset Allocation by NPS subscribers

1. In supersession of PFRDA Circular no: PFRDA/2017/8/PD/2 dated 1st March 2017, it has been decided that:

i. Under All Citizen Model and NPS Corporates Sector Model, the subscriber or employer, as the case may be, shall have the option to change the investment choice / asset allocation (changing between Auto Choice and Active Choice or to change the ratio of allocation among asset classes under Active Choice) four times in a financial year.
ii. The above choice shall be available for Tier I and Tier II accounts, separately.
iii. For Tier Il accounts, subscribers across all sectors (i.e. Government Sector, All Citizen and Corporate) will have the above choices.
iv. Choice to change Pension Fund will remain once in a financial year.

2. This will take effect from 1st February 2022.

(Mong Phukon)
Chief General\Manager

Download the Circular