You are here: Home » Economy & Policy » News
Business Standard

Pension fund authority woos corporates to become NPS subscribers

The Pension Fund Regulatory Development Authority (PFRDA) is urging corporates to become its subscribers for the benefit of employees, its chairman Suprotim Bandopadyay said on Thursday.

pension funds | National Pension Scheme

Press Trust of India  |  Kolkata 

Ontario Teachers' Pension Plan bets on PE, infrastructure in India

The Pension Fund Regulatory

Development Authority (PFRDA), which regulates the National Pension System (NPS), is urging corporates to become its subscribers for the benefit of employees, its chairman Suprotim Bandopadyay said on Thursday.

Speaking at a webinar organised by the Indian Chamber of Commerce, he said there is a huge scope for expanding the NPS in the corporate sector.

Bandopadyay said nearly 8,000 corporates have registered with the NPS so far, indicating that the number was less.

The official said the total assets under the pension scheme and the Atal Pension Yojana (APY) has crossed Rs 5.05 lakh crore, with the corporate sector contributing 10 per cent.

He said in the last five-six months, the number of subscribers has increased by 13-14 per cent compared to the corresponding period a year ago.

Bandopadyay added that as the age of subscribers increase, exposure of the funds to equity and corporate bonds decrease and investments in government securities rise.

(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.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 15 2020. 20:54 IST