There are some practical difficulties with NPS which I figured out as an investor. Probably this problem might have been aggravated by my POP too.
1) My contribution to tier-1 or 2 takes more than one week to find it's way to my account as units. In fact, one of my latest contribution was a month back and I am yet to see the units in my account. The cheque was cleared by the POP long back.
I am waiting to hear from the CRA NSDL grievance cell on the complaint made in this regard.
( This should become seem less like MF. If they receive the cheque on a particular day, I should be sure of getting the units as per the days NAV- subject to cut off time). We really have a long way to go here.
2) I have been contributing to tier -2 with fund management A. I wanted to re-direct only the future contributions to fund B having the previous units with fund A. Unfortunately, this doesn't seem to be possible .
If I give a switch request from fund A to B,then all my existing contributions plus the future contributions would be directed to fund B.
This seems like a limitation to me.
Hope as more and more people get into the bus, things should get better ( and not other wise :-) )