InvestorQ : In what circumstance should one make use of the one-way switch?
Priyanka Singh made post

In what circumstance should one make use of the one-way switch?

Answer
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Sadaf Khan answered.
1 year ago


A ‘one-way switch’ allows an individual to transfer money from his/her Tier-II NPS account to Tier-I NPS account.

If any NPS subscriber is unable to fulfil the minimum contribution requirements of Tier-I NPS account in a particular year, then he/she can use this one-way switch to comply with this requirement.

There is no maximum or minimum limit on the amount that can be transferred from Tier-II to Tier-I account.

Furthermore, there is no maximum limit on the number of one-way switches that can be requested by a subscriber depending on the availability of holding in the PRAN.