 "National Pension System gradually gaining traction, says PFRDA chief")
The National Pension System
(NPS) is gradually gaining traction with many public sector enterprises transferring superannuation funds into it, a top official said on Thursday.
Speaking at an ICC webinar Pension Fund Regulatory & Development Authority (PFRDA) Chairman S Bandopadyay said though the penetration levels of the pension scheme is low in India, many CPSEs are now transferring their own superannuation funds to NPS.
He said decent returns to beneficiaries are being provided and the CAGR for central government funds is 9.95 per cent, with 15 per cent equity exposure only.
"Nowadays, many corporations are placing importance on retiral benefits for its employees. Around 7,900 corporates have joined the NPS with a corpus of Rs 50,000 crore involving 10 lakh subscribers," he said.
Bandopadyay said more awareness has to be created among the companies so that the joining number increases.
Regarding the Atal Pension Yojana, he said during the last five-and-half months, 2 million people have joined, while their total number is 2.45 lakh.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app