HDFC Securities appoints official distributor for NPS by PFRDA

HDFC Securities announced that is has been appointed as an official distributor for National Pension System (NPS) by the Pension Fund Regulatory Development Authority (PFRDA).

HDFC Securities would give customers easy access to register for the scheme and convenience in transactions, said a release by HDFC Securities. Customers will be able to choose their own investment option and pension fund manager and monitor their contribution and growth. They can also opt to make a yearly lump sum contribution or fixed monthly payments. The subscriber’s contributions will be invested as per the scheme and preference opted, by the Pension Fund Managers appointed by the PFRDA.

“NPS is an offering with one of the lowest fund administration charges and investment in this product could help customers build their post-retirement funds”, said Aseem Dhru, MD & CEO, HDFC Securities.

PFRDA launched the National Pension System (NPS) to help individuals plan and prepare for post retirement life. The scheme, first introduced for government, was opened to the general public in late 2009. NPS is available to all Indian citizens between 18 to 55 years of age. It is a defined contribution based product where returns are market determined while periodic contributions are fixed.