India. Explained: National Pension System recent changes make NPS more subscriber-friendly; 10 points
National Pension System (NPS): Over the years, the Pension Fund Regulatory and Development Authority (PFRDA) has undertaken several measures to make the NPS more beneficial for the subscribers. The recent notification, which was issued in July, makes the NPS (also popularly referred to as National Payment System) more subscriber friendly. Until last month, there were 11,758469 NPS subscribers in the country with assets under management of Rs 2,50,758 crore! Most of the subscribers are government employees, the number of subscribers from the private sector is rising rapidly.
Here is a 10-point explainer on the latest change:
1. The notification titled Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 has come up with fresh Point of Presence (PoP) norms to deepen penetration of old age social security schemes by strengthening distribution channel for products.
Read more zeebiz
