This framework will outline the modalities for various scenarios, including individuals who retired under the National Pension System (NPS) and opted for partial withdrawals of the annuity amount.
Approved by the Union Cabinet on Saturday, UPS will be implemented from April 1, 2025.
"We will be releasing the operational framework. Technically, there is time until March 31, 2025, to finalise the operational modalities and mechanisms to be adopted by the Pension Fund Regulatory and Development Authority (PFRDA). Accordingly, the parameters and other details will be put in place," a senior finance ministry official privy to the plan told Business Standard.
Without disclosing specific timelines, he said that the framework would be made available as soon as possible.
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Diese Geschichte stammt aus der August 26, 2024-Ausgabe von Business Standard.
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Low valuation sparks interest in IndusInd
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BITING THE BULLET
The Bullet Train has been a 'dream project'. Can it become a reality anytime soon?
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