PFRDA to roll out guaranteed pension programme under NPS
PFRDA to roll out guaranteed pension programme under NPS
Share:

NEW DELHI: The Pension Fund Regulatory and Development Authority (PFRDA) is considering over a guaranteed pension programme under the National Pension System (NPS) and it is likely to launch it from September 30.

The PFRDA Chairperson Supratim Bandyopadhyay said, the PFRDA has always been aware of the inflation and depreciation of rupee and accordingly gave the investors an inflation-protected return. "The Minimum Assured Return Scheme is under development. Tentatively, we may start from September 30,"

He further said, "Over a 13-year period, we have given a compounded annual growth of more than 10 percent... 10.27 percent to be precise. Always, we have given investors inflation-protected returns,".

The PFRDA chairman said the size of the pension assets is Rs 35 lakh crore, of which 22 percent totalling Rs 7.72 lakh crore is with the National Pension System (NPS), while the EPFO deals with 40 percent of the funds. Bandhyopadhyay said the subscriber enrolment has increased substantially over a period of time from 3.41 lakh to 9.76 lakh this year.

He projected the subscriber enrolment increasing to 20 lakh in the current fiscal. He said ease of on-boarding through digital means such as usage of Aadhaar, DigiLocker, CKYC for KYC, OTP-based authentications and paperless processes of onboarding/servicing are among the many other initiatives

When will the pension of ex-servicemen be increased? Govt response in Parliament

Monsoon Session: Action on MPs who created ruckus, 11 suspended from Rajya Sabha

Odisha sanctions 11 investment proposals of Rs 2,253cr

Join NewsTrack Whatsapp group
Related News