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PFRDA organises its POP conference on National Pension System; Chairman PFRDA stresses upon the need to expand the coverage of pension sector across the informal sector in the country which occupies almost 90 of the workforce

News and Press Release - Dated:- 10-5-2016 - Pension Fund Regulatory Development Authority (PFRDA) organised its POP Conference on National Pension System here today. The prime objective of the Conference was to provide a platform to discuss and deliberate on key issues encountered in the coverage of pension sector, the budget announcements relating to the tax benefits and the need and ways to expand the pension coverage across the country. The Conference saw an active participation of all the m .....

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rs and 9.0% of the AUM under NPS and only 7500 out of 55600 POP branches i.e. 13%, are active in sourcing NPS accounts. He emphasised the need for the activation of all the branches of POPs who are the eyes and face of the system and awareness creation and quality service to the subscribers. He informed that PFRDA is exploring the development of NPS module linked with core banking solutions of the Banks in line with the APY module. Shri Hemant G. Contractor, Chairman, PFRDA, in the keynote addre .....

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ave brought the issue of pension centre stage in most of the policies of nations worldwide. NPS has the advantage of market commensurate returns, flexible options, transparency and low cost. He also added that effort was required to meet the challenges facing the unorganised sector including low awareness, low income levels and the lack of long term vision to save for the future. Moreover, 10% of the senior citizen population in the world resides in India and this number would increase from curr .....

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