National Pension Scheme

Over 100,000 babies enrolled for NPS Vatsalya, says PFRDA Chairperson

More than 1 lakh babies have opted for the NPS Vatsalya scheme, which was launched in September last year to allow parents to save for their children by investing in pension accounts, according to a senior official. Pension Fund Regulatory & Development Authority (PFRDA) Chairperson Deepak Mohanty on Wednesday said the regulator is doing a lot of outreach and also expanding the intermediary base as pension penetration is low in the country. "New born babies can also opt for NPS. I am happy to say that since the product was launched by the finance minister in September last year, we have more than 1 lakh babies opting for NPS Vatsalya," he said at an event in the national capital. He was participating in a discussion at the Civis' Public Consultation Awards 2025 function organised by non-profit platform Civis. Under the NPS Vatsalya scheme, all minor citizens up to the age of 18 years are eligible to open an account. The minimum monthly contribution that can be made by a parent or .

Pension sector needs boost to improve social security coverage: Eco survey

The Economic Survey 2024-25 on Friday made a case for scalability of pension coverage to bring more people under the social security net. Despite significant advancements in the pension sector, just 5.3 per cent of the total population is covered by the National Pension System (NPS) and Atal Pension Yojana (APY) combined. "This highlights another critical aspect of the Indian pension system: scalability. Low costs are essential to enhance coverage meaningfully. Achieving this will require highly competitive, low-cost fund management and minimal transaction costs, which is particularly vital for small-ticket transactions," it said. In principle, it said, taking into consideration both scalability and sustainability, India's pension system design seems robust and stable, the survey tabled in Parliament said. NPS is one of the lowest-cost pension schemes globally and its framework is based on a defined contribution model, which ensures that future payouts are determined by market ...

HDFC Securities, KFin Tech tie up to boost NPS adoption among subscribers

HDFC Securities on Monday announced a strategic partnership with KFin Technologies Ltd to boost accessibility and adoption of the National Pension System (NPS) among its subscribers. The collaboration aims to leverage KFin Technologies' advanced central recordkeeping agency (CRA) platform to provide an enhanced user experience for HDFC Securities' 3.5 lakh subscribers and over 2,700 corporate clients, the company said in a statement. CRAs play a vital role in the NPS ecosystem by managing subscriber records, ensuring transparency, and facilitating seamless account operations. KFintech's CRA platform is equipped with features such as flexible transaction statement downloads, real-time SMS notifications for contributions, and advanced security measures like dual-factor authentication using passwords and OTPs, it added. Subscribers can also access dedicated portals, WhatsApp services, and a missed-call facility to monitor investments and make changes conveniently, the stockbroking fir

NPS Vatsalya growing, onboards 75,000 people since launch: PFRDA chairman

Finance Minister Nirmala Sitharaman had in September launched NPS Vatsalya, a scheme for minors to secure their future

Govt rushes to notify Unified Pension Scheme by October 15, launch by 2025

Cabinet Secretary TV Somanathan has been holding regular meetings with key ministries and departments to ensure a smooth transition from NPS to UPS

Changing pension landscape in India: NPS Vatsalya set to be a game-changer

Employers and employees must contribute a percentage of their basic salary plus DA towards the UPS fund - which differentiates it from OPS but makes it similar to NPS

What is the new Unified Pension scheme and how is it different from NPS?

The Unified Pension Scheme aims to balance fiscal policy with employee benefits and combines a defined benefit pension similar to the Old Pension Scheme with the contributory nature of the NPS

UPS ensures dignity, financial security for govt employees, says PM Modi

Prime Minister Narendra Modi said Saturday the Unified Pension Scheme ensures dignity and financial security for government employees, aligning with the government's commitment to their well-being and secure future. His remarks came after the Union Cabinet approved an assured 50 per cent of salary as pension for 23 lakh government employees who joined service under the National Pension System (NPS). The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS. "We are proud of the hard work of all government employees who contribute significantly to national progress. The Unified Pension Scheme ensures dignity and financial security for government employees, aligning with our commitment to their well-being and a secure future," Modi said in a post on X. Announcing Cabinet decisions, Union Information and Broadcasting Minist

Budget 2024: Child rights orgs hail National Pension Scheme for minors

Child rights organisations hailed the Union Budget 2024-25 for introducing pension scheme for minors, increased allocations for child health, nutrition and education, and highlighted its potential to promote early financial planning for a stable future. They said these developments, including the National Pension Scheme for Minors (NPS Vatsalya), were significant steps towards ensuring the long-term financial security and well-being of children across the nation. Sudarshan Suchi, CEO of Bal Raksha Bharat, appluaded the forward-thinking nature of the initiative. However, Suchi said there were challenges in amplifying awareness and accessibility of the scheme, particularly in remote or underprivileged areas. The scheme's effectiveness will depend on the returns generated by investments, and parents will need assurance of adequate returns to meet future needs, he added. Puja Marwaha, CEO of Child Rights and You (CRY), provides a broader analysis of the Union Budget, which allocates Rs

NDA govt proposes 50% assured pension for central govt staff under NPS

The Modi govt has set up a committee led by Finance Secretary T V Somanathan in 2023 to explore ways to improve pension benefits under the NPS after states began reverting to OPS

Modi govt's Atal Pension Yojana poorly designed, a paper tiger: Cong

The Congress on Tuesday attacked the Modi government over the Atal Pension Yojana, alleging it is a "very poorly-designed scheme" and a "paper tiger" that needs officials to hoodwink and coerce people into participating in it. Congress general secretary Jairam Ramesh said the scheme is a "fitting representation of the Modi Government's policy making: headline management, with few benefits actually reaching the people". His attack came after a media report claimed that nearly one of three subscribers who dropped out of the central government's pension scheme for the unorganised sector, the Atal Pension Yojana (APY), did so because their accounts were opened without their "explicit" permission. The report cited a recent sample study by the Indian Council of Social Science Research (ICSSR). In a post on X, Ramesh said, "The Finance Minister (Nirmala Sitharaman) was in Bengaluru on the 24th of March, where she was proclaiming the benefits of the Atal Pension Yojana initiated by the Modi

NPS investment and luxury dinnerware: Top personal finance stories

Our top stories this week explain National Pension System's performance and how tableware makes eating elegant

PFRDA notifies new point of presence regulations for NPS subscribers

The simplification in PoP regulations is in line with the Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business

PFRDA seeks tax parity for NPS contributions with PF contributions

The aspiration is to take it to 14 per cent over the period to encourage wider acceptance of pension

Assam govt employees to intensify agitation for Old Pension Scheme

Lakhs of Assam government employees on Monday resolved to intensify their agitation demanding the restoration of the Old Pension Scheme (OPS). Leaders of opposition political parties and prominent personalities of the state have also lent their support to the demand of the government employees, claiming that adequate pension is a right of the workers. The decision was taken at a meeting organised by the All Assam Government NPS Employees Association (AAGNPSEA) and supported by the Joint Coordination Committee for OPS Assam and the Joint Forum for Restoration of OPS Assam here, a release said. The AAGNPSEA, along with other workers' bodies and unions, have been carrying out phased agitations for the restoration of OPS in the state. Among the resolutions adopted at the meeting was the demand to cancel the National Pension System (NPS) and to provide pensions to all workers, employees and teachers of the state government under the OPS. The meeting also demanded the repeal of the Pens

NPS Rules: PFRDA to allow users to withdraw up to 60 per cent pension fund

PFRDA has started the process of implementing new rules which will allow users to withdraw up to 60 per cent of their pension corpus. Here's all you need to know

Retirement planning, secondary sources of income rise up the priority list

67% Indians now have retirement plan compared to 49% in 2020

OPS vs NPS: Why did government employees hold a rally at Ramlila Maidan?

The protesters said that the party which promises to restore the old pension scheme should be voted to power in the 2024 Lok Sabha polls

Indians believe Rs 1.3 cr corpus is ideal for retirement: Is this enough?

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

Have urged Centre to implement OPS for Delhi govt employees: CM Kejriwal

Delhi Chief Minister Arvind Kejriwal on Sunday voiced support for the old pension scheme and said he has requested the Centre to implement it for Delhi government employees. His remarks came amid a massive protest at the Ramlila Maidan here by central and state government employees from more than 20 states for the restoration of the old pension scheme. "We strongly support the demand of govt employees to bring back OPS. NPS is an injustice against employees. We have implemented OPS in Punjab and have written to Centre for implementing it for Del govt employees. Some other non-BJP govts have also implemented OPS," Kejriwal said in a post on 'X'.