None
EN
PFRDA Rolls Out NPS Swasthya Pension Scheme
['Falaknaaz Syed', 'About The Author']
Deccan Chronicle - News Headlines | Today Headlines | Hyderabad News | English News | Top Stories | Breaking news
Mumbai: The pension fund regulator--the Pension Fund Regulatory and Development Authority (PFRDA) has launched NPS Swasthya Pension Scheme that will provide financial support for out-patient and in-patient medical expenses of the subscribers.
The scheme at present is being rolled out on a pilot basis under the Regulatory Sandbox Framework to examine the feasibility of integrating health-related benefit mechanisms with the existing National Pension Scheme (NPS) architecture and to assess the associated operational, technological and regulatory aspects, the PFRDA said in a circular.
The minimum investment is ₹1,000, in line with rules for non-government NPS subscribers, and there is no maximum limit.
Subscribers (excluding government subscribers ), aged above 40 years shall be permitted to transfer up to 30 per cent of their self and/or employee contributions from the Common Scheme Account to the NPS Swasthya Pension Scheme Account.
Provisions of the PFRDA (Exits and Withdrawals under NPS) Regulations, 2015, have been relaxed to facilitate testing under the sandbox framework.