InvestorQ : Is the one-way switch named the way it is because money can only be transferred once?
Priyanka Singh made post

Is the one-way switch named the way it is because money can only be transferred once?

Answer
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Sadaf Khan answered.
1 year ago


No.

One-way switch allows an individual to transfer money from his/her Tier-II NPS account to Tier-I NPS account. The reason this facility is called ‘one-way switch’ is because the subscriber can transfer funds from his/her Tier-II NPS account to Tier-I NPS account and not vice versa.

This means, one cannot transfer funds from Tier-I to Tier-II account.

In continuation and in contrast to your question, 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.