PFRDA exhorts non-bank 'Points of Presence' to promote NPS

Pension Fund Regulatory and Development Authority (PFRDA) has asked non-bank Points of Presence (POPs) to promote National Pension System(NPS) as it provides exclusive tax benefits on investments of Rs 50,000.
"POPs can play a vital role in on-boarding corporates in the NPS system and facilitating private sector employees in opting for NPS," PFRDA member R V Verma said.
While addressing roundtable with PoPs, he said NPS being a low cost product, it has a vast potential in the private sector and the POPs should develop strategies to tap this huge opportunity.
He also advised POPs to tap the potential which has been created due to the availability of exclusive tax benefits on investment of Rs 50,000 in NPS.

Some suggestions came from the POPs including offering online facility of account opening and tax exemption on par with other pension products etc, an official statement said.
He further said that PFRDA would look into the suggestions of the POPs and action would be taken in the best interest of the subscribers.