The Pension Fund Regulatory and Development Authority has authorised same-day settlement for National Pension System participants starting from July 1.
Contributions to NPS received by the Trustee Bank until 11 a.m. (T) on a settlement day will be promptly invested, allowing subscribers to avail the same-day Net Asset Value, according to a statement by PFRDA.
Hitherto, contributions received by the Trustee Bank are invested on the next settlement day (T+1), meaning contributions received until the previous day are invested the following day, it said.
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D-Remit contributions received by 9:30 a.m. on any settlement day were already considered for same-day investment. Now, D-Remit contributions received till 11 a.m. will also be invested on the same day with the applicable NAV, it said.
Points of Presence, Nodal Offices, and NPS Trust for eNPS are advised by PFRDA to align their NPS operations as per revised timelines to benefit the subscribers in a time-bound manner, it said.
(With inputs from PTI.)
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