PFRDA mulls measures to expand NPS, APY outreach

The pension regulator PFRDA is in the process of starting an auto enrolment programme under the National Pension System (NPS) to increase penetration of the social security scheme in the country.
Speaking at the 'Third Pension Conference on Implementation of NPS' here, PFRDA Chairman Hemant Contractor also said the regulator will take all steps to increase the outreach of NPS and APY (Atal Pension Yojna).
At present, the NPS has more than 1.57 crore subscribers with total assets under management of over Rs 1.72 lakh crore.
After inaugurating the conference, Minister of State for Finance Santosh Gangwar stressed on the need for creating awareness on pension at the grassroots level.

On the occasion, the top three performing Points of Presence (POPs) under the NPS and the APY were awarded for their contribution in bringing subscribers.
The NPS, the government's flagship scheme, has been designed in a manner to cater to both the organised and heterogenous unorganised sector.