New Functionalities released under National Pension System (NPS)

 Pension Fund Regulatory and Development Authority (PFRDA) has been established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. In this regard, recently many new functionalities have been released by the Central Record keeping Agency (CRA) to provide the ease of operation for the benefit of subscribers and nodal offices. 
detailed below:
1. Contribution upload for shifted subscribers: Now, a POP can also upload the contribution for subscribers who have shifted from one of their associated Corporate to another associate Corporate.
2. One way switchCurrently, there is no provision for transfer of funds from Tier-II to Tier-I account. Now, the POP can process a subscriber request to transfer funds from Tier II to Tier I account.
3. Upload of unequal contribution for Govt. employees
4. Grievance resolution by monitoring office in CRA system
5. Functionality for capturing bank details and contact details of the nodal offices.
Advantages of Pension Plan,Retirement Plan, and Pension Scheme
Pension Plan: It provide financial security and stability during old age when people don't have a regular source of income.
Retirement Plan: It ensures that people live with pride and without compromising on their standard of living during advancing years.Pension Scheme: It gives an opportunity to invest and accumulate savings and get lump sum amount as regular income through annuity plan on retirement.
About National Pension System
- Monetory authority: Pension Fund Regulatory and Development Authority (PFRDA) 
- Launch on Jan,2004.
- Aim: to institute pension reforms and to inculcate the habit of saving for retirement amongst the citizens.
- Objective : to provide pension to all the citizens.
- The subscriber will be allotted a unique Permanent Retirement Account Number (PRAN) and this will be applicable allover India.