PFRDA Nod To 75% In Equity For Private NPS

The Pension Fund Regulatory and Development Authority (PFRDA) have decided on an additional fund for the private sector employees. It will enable them to increase the portion of their money under the National Pension System (NPS) in equity up to 75%, from 50% now.

Another fund will be launched to allow the private subscribers to lower the portion up to 25%. Both the extra choices will be available up to the age of 35 years, after which the investment in the equity will be reduced every year. Confirmation for both the funds have been given by the board of directors of PFRDA; only the procedural requirements for the launch remain.

The regulator is also in touch with the government to allow the latter's employees to raise their contribution in the stocks, as well as choose the private fund managers under the NPS.

Tax Assist is a professional income tax consultancy in India for both corporate houses and individual tax payers; the latter comprising Salaried Individuals, Seafarers, Professionals and Non Resident Indians.

With the help of Tax Assist and its team of income tax professionals, taxpayers can minimize their Income Tax liability, maximize their net income and create opportunities to save for current and future needs while maintaining proper accounting standards and income tax returns which are compliant with the Law.