PFRDA to launch campaign to plug 'information gaps' about NPS

Regulator to hold the 15-day campaign from June 27 in all nodal offices under central and state government

Faced with scores of "elementary" queries from subscribers of National Pension System (NPS), regulator PFRDA has decided to hold a 15-day campaign across the country from June 27 for information dissemination on the government's flagship old-age social security scheme.

Pension Fund Regulatory and Development Authority (PFRDA), in a communication to various stakeholders of the NPS, noted that subscribers/employees in the central and state governments are not fully aware of the various functions and facilities available under the scheme.

"A large number of the queries/grievances received from the subscribers pertain to elementary issues like non-receipt of statement of transcation...," it said.

However, the regulator noted that the majority of "these information gaps" are because of non-availability of the latest contact details of the subscribers in their respective documents and PRAN (Permanent Retirement Account Number) alloted to them.

Now, in order to promote awareness regarding importance of updation of latest contact details in PRANs and provide basic facilities on the spot, PFRDA has decided to organised NPS Service fortnight from June 27-July 9 in all the nodal offices under the central and state governments, said the communication.

"On this occasion, besides sharing information on the range of functionalities and services now available under the NPS, we will also take the opportunity to apprise nodal officers and the subscribers community about the need for constant updation data/information under various fields to enable the system to operate at its optimum service level," PFRDA said.

The regulator has also asked the nodal officers to highlight the need for correct and proper details as also regular updation, particularly the PRAN details, so that the intended benefit can reach the subscribers.

Besides other activities, focus would be on updation of subscriber details, including nomination, and printing of transaction statements during the service fortnight.

Currently, 1.30 crore subscribers are registered under various schemes under NPS, with the total assets under management (AUM) in excess of Rs 1.20 lakh crore.

Keen to spread awareness and increase subscriber base, the regulator also plans to train 75,000 people who will form a "totally committed" workforce for implementation of the NPS.