PFRDA unveils draft policy to speed NPS complaint resolution
Business
If you're an NPS subscriber, good news: the Pension Fund Regulatory and Development Authority (PFRDA) is pushing for a big upgrade in how quickly your complaints get sorted.
Its new draft policy, unveiled on May 21, aims to cut resolution times down to just 7-30 days depending on the issue, much quicker than before.
You can even share your feedback on these changes until June 19.
NPS ombudsman window reduced 30 days
The proposed rules slash wait times across the board: intermediaries must now resolve issues within 14 days (instead of 30), and the ombudsman's window drops from a whopping 90 days to just 30.
Plus, level 2 escalations will go straight to PFRDA's Grievance Cell instead of NPS Trust, making regulatory help faster.