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PFRDA conducts the Workshop with Corporates to create an awareness about the features, benefits and the process of joining National Pension System (NPS)

May 4, 2020 rajasinghmurugesan

PFRDA conducts the Workshop with Corporates to create an awareness about the features, benefits and the process of joining National Pension System (NPS); Also to create awareness about the role of Pension Funds under NPA architecture;

Ministry of Finance

01-December, 2017 18:43 IST

PFRDA conducts the Workshop with Corporates to create an awareness about the features, benefits and the process of joining National Pension System (NPS); Also to create awareness about the role of Pension Funds under NPA architecture;

More than 1.80 crore subscribers join under NPS-Private sector

Pension Fund Regulatory Development Agency (PFRDA) in its endeavor to promote NPS among the corporates have embarked upon conducting NPS Workshops at various locations across the country. In continuation of that exercise, a Corporate Meet was held today in Pune in association with FICCI, Maharashtra State Council and Mahratta Chambers of Commerce, Industry and Agriculture.

   More than 100 participants from around 55 corporates attended the workshop. PFRDA officials gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employees as well as to the employer. The role of the Pension Funds under NPS architecture and the benefits of long term investment and the optimal return being generated by the Pension Fund following the investment guidelines issued by PFRDA was highlighted.

PFRDA officials also clarified the queries regarding joining of NPS, tax benefits, POPs details, timelines, transfer of superannuation fund to NPS, annuity etc. to the participants.

 The recent developments under NPS-Private Sector (All citizen and Corporate) are listed below:

  1. Process of Transfer of Superannuation / Recognized Provident Fund to National Pension System.
  2. Allowing option to change the investment choice or asset allocation ratio twice in a financial year

iii.            Dispensing of requirement of submission of physical application form in case of subscriber opening account online and e-Signing the document.

  1. Introduction of Alternative Investment Fund-a separate class of Asset “A”
  2. Introduction of two new life cycle funds (LC 75 and LC 25)
  3. Under Tier-I account, minimum contribution requirement in a financial year is reduced from Rs 6,000/- to Rs 1,000/-

        As on 25th November 2017, more than 1.84 crores subscribers have joined under NPS-Private sector (Corporate and All Citizen model) . More than 6.58 lacs employees of 4,027 registered Corporates have joined NPS under NPS Corporate Model, and more than 5.46 lacs subscribers have joined NPS under NPS-All Citizen Model. The overall number of NPS and APY subscribers have crossed 1.80 crore with overall Asset under Management (AUM) of more than 2,15,461 crore. PFRDA’s endeavour is to significantly scale-up these segments during the ongoing months.

Source : PIB

Related posts:

  1. PFRDA conducts workshop on National Pension System (NPS) for Corporates in coordination with FICCI at Bhubaneswar
  2. PIB News : PFRDA conducts workshop on National Pension System (NPS) for Corporates in coordination with FICCI at Ahmedabad
  3. PFRDA conducts Conference on National Pension System (NPS) for Corporates in coordination with FICCI at Mumbai
  4. NPS- Corporate Sector Model – Discontinuation of ‘Corporate- CG scheme.’ for new corporates joining NPS
  5. PIB -PFRDA is observing NPS Service Fortnight from 27t h June, 2017 to 11th July 2017 to promote and create awareness about the NPS
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  7. Maximum age of joining National Pension System (NPS) increased from the existing 60 years to 65 years under NPS- Private Sector
  8. PFRDA smoothens the Process of Registration of Retirement Advisers; Process of submitting application transformed from Physical Mode to Online Mode
  9. 1.15 Crore Subscribers for National Pension System (NPS) as on 23.1.2016
  10. PFRDA Issues Revised Set of Guidelines for Registration of Pension Fund Managers to Manage National Pension System for the Non-Governmentand Private Sector
  11. NPS – Important Announcements and Approvals in Board Meeting of PFRDA
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  18. Corporate-CG scheme|Change in Central Government Investment Model for the Corporate Sector
  19. National Pension System (NPS) crosses Rs. 1 lac crore
  20. New Pension Bill (PFRDA Bill 2011- Frequently asked questions)

Filed Under: Dopt orders | Department of Personnel & Training, NPS, PFRDA NEWS, PIB NEWS, Superannuation May 4, 2020 1 Comment

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Comments

  1. CK Sharma says

    December 4, 2017 at 6:57 am

    At the time of retirement we will get 60% but what about the balance of 40% and how much % of 40% will be fixed as pension and when this 40% will be given to the Subscriber.

    Reply

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