New Delhi. There is good news for the subscribers of National Pension System (NPS). Actually, Pension Fund Regulatory and Development Authority i.e. PFRDA is going to make a big change for NPS customers from Monday (July 1).
Pension Fund Regulator PFRDA is going to implement T+0 settlement under NPS. In simple language, if a customer makes his contribution by 11 am on any settlement day, then it will be invested on the same day and the benefit of Net Asset Value (NAV) benefit will be available on the same day.
According to the statement of PFRDA, if any subscriber of National Pension Scheme invests before 11 am, then that investment will be valid for settlement on the same day. However, the settlement of the contribution after 11 am will be done the next day.
Earlier the settlement used to happen after one day
According to the statement, till now, the settlement of the contributions received by the trustee bank is invested on the next day (T+1). This means that the contributions received till the previous day are invested on the next day.
Number of NPS subscribers
It is worth noting that in the financial year 2023-24, a total of 9,37,000 subscribers have joined the National Pension System, which is 13.6 percent more than the figure of 8,24,700 in the financial year 2022-23. The National Pension System is operated by PFRDA. From January 1, 2024, it is mandatory for all central employees (except armed forces).
