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Are you planning to open an NPS account?Choose your fund house carefully or pay much more

NPS account: The National Pension System (NPS) is a voluntary retirement plan that allows investors to invest in both debt and capital at a single point of contact. What they need is to choose the ratio in which their debt and equity exposures exist. Until March 31, 2021, it didn’t matter where you opened your NPS account. However, after April 1, 2021, you must carefully select your fundhouse when opening an NPS account. From April 1st, the Pension Fund Regulatory Development Authority (PFRDA) has allowed pension fund managers to make more claims. PFRDA has approved a fundhouse slab based on AUM (Assets Under Management).

NPS charges slab
PFRDA sets 0.09 percent for AUMs up to 10,000 rupees. PFMs with AUM of Rs 10,001 to Rs 50,000 can charge up to 0.06% commission. Persons with an AUM of Rs 50,001 to Rs 150,000 can charge up to 0.05% commission. Finally, PFMs with AUM above Rs 150,000 are allowed to charge up to 0.03% commission.

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Regarding the impact of this new NPS fee slab on NPS account holders, goodmoneying.com founder Manikaran Singhal said, “From April 1, 2021, NPS account holders will be better off due to pension manager fees. You need to withdraw a lot of money. You can keep these fees down by choosing a fundhouse with a high AUM. “

Singhal advised anyone who wants to open an NPS account to choose a fundhouse from HDFC, UTI, SBI and others with high AUM. He said that the higher the AUM, the lower the AUM fee for NPS account holders after April 1, 2021.

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Are you planning to open an NPS account?Choose your fund house carefully or pay much more

Source link Are you planning to open an NPS account?Choose your fund house carefully or pay much more

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