Pension Fund Regulatory and Development Authority has issued a circular pertaining to the Axis Bank is appointed of new Trustee Bank (TB) under National Pension System (NPS) through its portal. The complete text of the order has been given below for your reference…
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
30th April, 2013
All Central Government Ministries & State Governments
All PrAOs / PAOs / DTAs / DTOs
All POPs / POP-SPs / Aggregators / Corporates
All PFMs / ASPs
Dear Sir / Madam,
Subject : Appointment of new Trustee Bank (TB) under National Pension System (NPS) – reg.
1. All the offices are hereby informed that Axis Bank has been appointed as a new Trustee Bank in place of Bank of India (the current Trustee Bank) for National Pension System (NPS) with effect from 1st July, 2013.
2. Accordingly, all NPS related funds are to be remitted to the designated accounts of Axis Bank from 1st July, 2013. The Offices shall continue to remit funds to the designated NPS Trust accounts being maintained with the current Trustee Bank, I.e., Bank of India till 30th June. 2013.
3. Kindly note that the overall procedure for remittance of funds to the Trustee Bank and Matching & Booking of Subscriber Contribution Files (SCF) as well as the receipt of funds from Trustee Bank shall remain unchanged.
4. The Offices are requested to take note of the same. A detailed circular communicating the new NPS Trust Account numbers where the funds will have to be remitted from 1st July, 2013 and the name, contact numbers and email ids of the Axis Bank officials for any query/assistance will be communicated subsequently.
Chief General Manager
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