PFRDA chairman gave update, new scheme is coming for NPS subscriber, will get huge benefit
NPS Assured Return: NPS i.e. National Pension System is about to launch a knee scheme for its subscribers. This information has been given by PFRDA Chairman Deepak Mohanty. Let us know what is the target of PFRDA this year.
Deepak Mohanty, chairman of the Pension Fund Regulatory and Development Authority (PFRDA), has made a big announcement. He informed that the regulator is working on a new pension scheme. In this scheme, the pensioner will get minimum assured retention. This scheme is going to be launched soon.
Along with this, he told that there are about 5.3 crore subscribers in the Atal Pension Yojana (APY). This year's target is 1.3 crore. Whereas last year the target of PFRDA was 1.2 crore. With regard to APY, he said that the objective of PFRDA is to increase enrollment under the scheme. Along with this, Regional Rural Bank is doing well in this matter. Atal Pension Yojana gives a return of 9 percent. The government has assured gap funding for this scheme. Right now work is going on.
Along with this, he told that in the case of assured returns, the pension fund has to raise more capital, because it involves more risk. PFRDA is considering new products. The returns on this product should be attractive.
Deepak Mohant has not given any comment regarding the review of the pension system for government employees. He said that it is too early to comment on this. It will suggest measures to modify it with a view to improving the pensionary benefits of government employees covered under NPS.
In March, the central government said that there is no provision in the PFRDA Act for the withdrawal of accumulated NPS funds. Five states want to revive the old pension scheme.
The state governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the Center about their decision to roll back the OPS. Also requested the withdrawal of accumulated funds under the National Pension System (NPS).
