The National Pension System (NPS) is determined to get more fund managers and expand age-related entry criteria for investors, with even more employers expected to switch from EPFO to their non-statutory retirement funds , Which is the provident fund income imposed due to the new tax, the PFRDA chief said on Thursday.
With more than 15,000 people joining the NPS after the age of 60 in the last three years, the NPS has decided to increase the age of entry in the scheme from 18 to 18 to 70 years. Invested till the age of 75.
PFRDA chairman Supratim Bandyopadhyay said a 30-day window would be opened next month for new fund managers to register themselves with the NPS.
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