It will be mandatory for the subscribers of New Pension System (NPS) to submit applications on line, for settlement of withdrawal claims from April 1 next year. <br/><br/>According to Pension fund regulator PFRDA has made it clear in it's directive that no request in physical form would be entertained with effect from that date. It also said physical withdrawal request forms received at CRA will not be accepted for further processing. <br/><br/>The agency said it is committed to support the Digital India campaign of the government and efforts were being made to make various NPS related services available on online platform.<br/><br/>Meanwhile, Union Finance Ministry is considering a proposal to raise investment limit of pension funds in stock markets to 50 per cent and a decision is expected in a short time. <br/><br/>Speaking exclusively to AlR, PFRDA Chairman Hemant G Contractor has said it is receiving Finance ministry's active consideration. He, however, did not give a time frame when exactly it will come. At present, PFRDA is allowed to invest up to 15 per cent of the corpus into stock market.

Pension fund regulator PFRDA has made it mandatory for the subscribers of New Pension System (NPS) to submit applications online for settlement of withdrawal claims from April 1 next year. According to a PFRDA directive, no request in physical form would be entertained with effect from1st April 2016.<br/><br/>It also said physical withdrawal request forms received at CRA will not be accepted for further processing. The agency said it is committed to support the Digital India campaign of the government and efforts were being made to make various NPS related services available on online platform.