Change of Pension Fund and Asset Allocation by NPS subscribers: PFRDA Circular dated 27.01.2022
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
Circular No: PFRDA/2022/02/PDES/01
Date: 27th January 2022
All Stakeholders under NPS
Subject: Change of Pension Fund and Asset Allocation by NPS subscribers
1. In supersession of PFRDA Circular no: PFRDA/2017/8/PD/2 dated 1st March 2017, it has been decided that:
- Under All Citizen Model and NPS Corporates Sector Model, the subscriber or employer, as the case may be, shall have the option to change the investment choice / asset allocation (changing between Auto Choice and Active Choice or to change the ratio of allocation among asset classes under Active Choice) four times in a financial year.
- The above choice shall be available for Tier | and Tier I! accounts, separately.
- For Tier Il accounts, subscribers across all sectors (i.e. Government Sector, All Citizen and Corporate) will have the above choices.
- Choice to change Pension Fund will remain once in a financial year.
2. This will take effect from 1st February 2022.