National Pension System definition

National Pension System means the National Pension System as defined in clause (i) of sub-section (1) of section 2 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013);
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National Pension System means the contributory pension system referred to in section 20 whereby contributions from a subscriber are collected and accumulated in an individual pension account using a system of points of presence, a central recordkeeping agency and pension funds as may be specified by regulations;
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National Pension System means the contributory pension system referred to in section 20 of the Pension Fund Regulatory and Development Authority Act, 2013 whereby contributions from a subscriber are collected and accumulated in an individual pension account using a system of points of presence, a Central Recordkeeping Agency and pension funds as may be specified by regulations by Pension Fund Regulatory and Development Authority;
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Examples of National Pension System in a sentence

  • Pension Fund Regulatory and Development Authority (PFRDA) has issued a Show Cause Notice (SCN) to UTI AMC under section 30 of the Pension Fund Regulatory and Development Authority Act, 2013 (“PFRDA Act”) read with Regulation 4 of the Pension Fund Regulatory and Development Authority (Procedure for Inquiry by Adjudicating Officer) Regulations, 2015 in February 2020, in respect of its functioning as a Point of Presence (PoP) for National Pension System (NPS) activities.

  • This facility will be available only if the NPS pension wealth is below threshold limit as prescribed in PFRDA (Exits and Withdrawals under National Pension System) Regulation 2015 or circular issued by the authority.

  • That I am a Subscriber of National Pension System, holding PRAN 2.

  • The Board of Trustees is also responsible with regard to taking of action on reports submitted by the intermediaries in order to ensure compliance with the regulations applicable to them under the National Pension System.

  • National Pension System Trust (NPS Trust) is the nodal point for co-ordination of the operations of all intermediaries and is responsible for monitoring and evaluation of all operational and service level activities of all intermediaries in accordance with the provisions of the PFRDA Act, 2013 or the regulations made or guidelines or circulars issued by the Authority.

  • I have read and understood the terms and conditions of the National Pension System and hereby agree to the same along with the PFRDA Act, regulations framed thereunder and declare that the information and documents furnished by me are true and correct, to the best of my knowledge and belief.

  • The Central Government has introduced the National Pension System (NPS) with effect from 1st January 2004.

  • I, hereby nominate the person(s) mentioned below who is/are member(s)/ of my family to receive the amount in my PRAN account under National Pension System in the event of my death.

  • Under section 10 (12B) of the Act, any payment from the National Pension System Trust to an employee under the pension scheme referred to in section 80CCD, on partial withdrawal made out of his account in accordance with the terms and conditions, specified under the Pension Fund regulatory and Development Authority Act, 2013 and the regulation made thereunder, to the extent it does not exceed twenty-five percent of the amount of contribution made by him shall be exempt.

  • I undertake to inform immediately the National Pension System Trust, of any change in the above information furnished by me.


More Definitions of National Pension System

National Pension System means the National Pension System as defined in clause (i) of sub-section
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Related to National Pension System

  • Distribution System Code means the code approved by the Board which, among other things, establishes the obligations of the distributor with respect to the services and terms of service to be offered to customers and retailers and provides minimum, technical operating standards of distribution systems;

  • personal pension scheme means a personal pension scheme which--

  • Basic health benefit plan means any plan offered to an individual, a small group,

  • Retirement system means a retirement plan or system that is established by or pursuant to title 38.

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Government energy aggregation program means a program and

  • occupational pension means any pension or other periodical payment under an occupational pension scheme but does not include any discretionary payment out of a fund established for relieving hardship in particular cases;

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Distribution System means the system of wires and associated facilities between the delivery points on the transmission lines or the generating station connection and the point of connection to the installation of the consumers;

  • Group health benefit plan means any health care plan, subscription contract, evidence of

  • distribution system operator means a natural or legal person responsible for operating, ensuring the maintenance of and, if necessary, developing the distribution system in a given area and, where applicable, its interconnections with other systems and for ensuring the long-term ability of the system to meet reasonable demands for the distribution of electricity;

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Pension program means the defined benefit pension program of the Oregon Public Service

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • Water distribution system means that portion of the water supply system in which water is conveyed from the water treatment plant or other supply point to the premises of the consumer.

  • National Pollutant Discharge Elimination System means the national program for issuing, modifying, revoking and reissuing, terminating, monitoring and enforcing permits, and imposing and enforcing pretreatment requirements under Sections 307, 402, 318, and 405 of the Clean Water Act.

  • Public employees retirement system means the retirement plan and program

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • Irrigation System means such major, medium and minor irrigation system for harnessing water for irrigation and other allied uses from Government source and includes reservoirs, open head channels, diversion systems, lift irrigation schemes, anicuts, tanks, wells and the like.

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • National Pollutant Discharge Elimination System (NPDES) means the national program for issuing, modifying, revoking and reissuing, terminating, monitoring, and enforcing permits and imposing and enforcing pretreatment requirements, under Sections 307, 318, 402, and 405 of CWA. The term includes an approved program.

  • Electric distribution system means the part of the electric system, after the transmission system, that is dedicated to delivering electric energy to an end user.