10 Recent NPS Updates You Can't Ignore | Maximize Your Benefits from the National Pension System

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The National Pension System (NPS) has undergone significant changes and updates over the past few years. In this video, we shall look at 10 recent and important updates that no NPS subscribers or if you are considering subscribing to NPS should not ignore. Here's a list of NPS changes:
1. Subscribers can now choose different fund managers for various asset classes
2. The introduction of Systematic Lumpsum Withdrawal (SLW) allows subscribers to withdraw 60% of their accumulated funds on a periodic basis
3. Authentication measures like the penny drop verification ensure smoother fund transfers and reduce delays
4. NPS statements are now integrated into consolidated statements, providing subscribers with a unified view of their investments
5. Changes in equity allocation rules allow subscribers to maintain higher equity exposure until the age of 60
6. Subscribers can now opt for multiple annuities, offering diversification and flexibility in payout options
7. PFRDA has made document upload compulsory to streamline the annuity payment process after exiting NPS
8. Improved IT capabilities has enabled quicker settlement times for withdrawal requests
9. The introduction of UPI payments simplifies and speeds up contribution processes
10. Credit card contributions are restricted for Tier 2 accounts (but not Tier 1) aligning with similar practices in other investment platforms

👉 Useful resoures/reading:
‣ https://economictimes.indiatimes.com/...
‣ https://www.livemint.com/money/person...
‣ https://www.thehindubusinessline.com/...
‣ https://www.cnbctv18.com/personal-fin...
‣ https://www.timesnownews.com/business...
‣ https://www.etmoney.com/learn/nps/bes...
‣ https://npscra.nsdl.co.in/download/FA...
‣ https://www.livemint.com/money/person...

👉 Video Chapters:
00:00 Recent Changes in National Pension System
01:16 1. Different Pension Fund Managers Per Asset Class
02:37 2. Systematic Lumpsum Withdrawal in NPS
04:16 3. Mandatory Penny Drop Authentication
05:19 4. Inclusion of NPS in Consolidated Account Statement
07:11 5. Relaxation in NPS Equity Allocation
08:10 6. Multiple Annuities from Same Life Insurance Company
09:09 7. Mandatory Upload of Documents upon NPS Exit
10:05 8. Reduction in NPS Settlement Time to T+2 Days
10:59 9. NPS Contributions via UPI (Unified Payment Interface)
12:11 10. No Contribution into NPS via Credit Cards
12:56 Shankar's Viewpoint

#nationalpensionsystem #nps #nationalpensionscheme

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