Now Reading: PFRDA extends NPS same-day NAV cut-off to 1:30 pm
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PFRDA extends NPS same-day NAV cut-off to 1:30 pm
The Pension Fund Regulatory and Development Authority has extended the cut-off for same-day investment of National Pension System contributions from 11 am to 1:30 pm. Contributions received by the NPS Trustee Bank…
The Story in Brief
The Pension Fund Regulatory and Development Authority has extended the cut-off for same-day investment of National Pension System contributions from 11 am to 1:30 pm. Contributions received by the NPS Trustee Bank by 1:30 pm on a business settlement day can qualify for that day’s closing Net Asset Value, provided they are successfully matched and booked.
The revised rule covers contributions routed through Government Nodal Offices, Points of Presence, eNPSD-Remit, Bharat Bill Payment System, UPI, STAR NPS and Tatkal NPS. Contributions received after the cut-off will continue to follow existing settlement rules. PFRDA has asked intermediaries to update their technology and operating processes.
The Indian Opinion
Claims that the change guarantees better returns would be misleading. It only gives subscribers more time to qualify for the day’s closing NAV, while the value of that NAV can rise or fall with markets. The practical benefit is operational flexibility, especially for payments made around midday. The key test is whether intermediaries consistently match and book contributions before 1:30 pm, rather than merely accepting them by that time.
Source: livemint.com
This story was synthesised by AI from the source linked above.
