Transfer of Legacy Funds of NPS Subscribers of Government Sectors

Last updated: 17 February 2021

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This circular from PFRDA concerns the transfer of legacy funds for National Pension System (NPS) subscribers in government sectors, including State Governments, State Autonomous Bodies, and Central Autonomous Bodies. If these entities choose to allow subscribers to select their Pension Funds and investment allocations, the entire accumulated corpus in a subscriber's PRAN account will be transferred to their chosen Pension Fund(s) and asset allocation. This process is now also being applied to Central Government subscribers and is effective immediately.

PENSION FUND REGULATORYAND DEVELOPMENT AUTHORITY B-14/A, Chhatrapati Shivaji Bhawan, Qutub Institutional Area, Katwaria Sarai, New Delhi-110016 Ph : 011-26517501, 26517503, 26133730 Fax : 011-26517507 Website :www.pfrda.org.in CIRCULAR PFRDA/17/07/0001/2017-SUP-C Date: 15thFebruary 2021 To, All Pension Funds Central Record Keeping Agencies Custodian NPS Trust Dear Sir/Madam, SUBJECT: Transfer of Legacy Funds of NPS Subscribers of Government Sectors (SGs/ CABs/

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FAQ :

The circular is about the transfer of legacy funds for NPS subscribers in government sectors (SGs/CABs/SABs).

NPS subscribers belonging to Government Sectors, including State Governments (SGs), State Autonomous Bodies (SABs), and Central Autonomous Bodies (CABs).

Upon exercising their choice of investment schemes and pension funds, the entire accumulated corpus in their PRAN account will be transferred to the opted Pension Fund(s) and asset allocation.

The arrangements are applicable with immediate effect from the date of issuance of this circular, which is 15th February 2021.

Yes, the circular states that the same process is now being followed for Central Government subscribers as well.