NPS to include assured returns; new products likely to come in August

The NPS has offered higher returns so far than other schemes

Amid a debate on the pension systems, old and new, the sector regulator is likely to allow minimum assured-return products around August. The Pension Fund Regulatory and Development Authority (PFRDA) has appointed E&Y Actuarial Services LLP to design the scheme under the New Pension Scheme (NPS).

“Lots of actuarial inputs are required. The consultant will design the product and it will help us in launching it,” PFRDA Chairman Supratim Bandyopadhyay told Business Standard.

The PFRDA Act talks of putting in place minimum assured-return schemes but they have not been launched yet despite more than eight years having elapsed since the legislation was