New Delhi, Aug. 6 -- The Pension Fund Regulatory and Development Authority (PFRDA), as per an official notification released on 4 August, has extended the cut-off time for the receipt of National Pension System (NPS) contributions by the Trustee Bank for same-day investment from the earlier 11 am to 1:30 pm, on a given business settlement day.

The regulator clearly explained the rationale behind this move, saying, "The National Pension System (NPS) has been designed as an efficient, transparent and technology-driven retirement savings framework."

It added that the change is part of PFRDA's "continuous endeavour to enhance subscriber experience and improve operational efficiency" through new digital methods and process enhancements acros...