NPS rule change: Default option available in NPS Tier II accounts for govt employees; what is it and how will it help you?
The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the default scheme option in NPS tier II accounts the government employees. Till now, the default scheme was available only to NPS Tier I account subscribers. So those government sector NPS subscribers who chose to invest in NPS tier II accounts, had to pick their pension fund managers (PFM) and percentage in which the selected PFM will invest the fund. Now, the government sector NPS subscribers can also select the the default scheme option in NPS tier II. This scheme is designed to offer flexibility and convenience to government sector
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