Guwahati (Assam) [India], March 5 : Pension Fund Regulatory and Development Authority (PFRDA) in collaboration with the Indian Chamber of Commerce conducted an awareness program in Guwahati on Tuesday, in presence of members of corporates and SMEs based out of Guwahati and from northeast region.
To promote awareness of National Pension System among corporate entities, the Pension Fund Regulatory and Development Authority (PFRDA) organises nationwide NPS Awareness programmes for corporates titled "NPS- Foundation of a Better Future".
The National Pension System (NPS) has been implemented for all Government Employees (except armed forces) entering the Central Government workforce on or after January 1, 2004.
Most of the State and UT Governments have also adopted the NPS for their new employees.
Since May 1, 2009, NPS has been available to every Indian citizen on a voluntary basis, including corporates.
Notably, the Atal Pension Yojana (APY) was launched on June 1, 2015, providing a significant boost to social security schemes.
As on March 2, 2024, the subscribers of NPS and APY surpassed 7.24 crores with a total Asset Under Management (AUM) of 11.50 lakh crore.
The number of subscribers in the private sector, including corporates, exceeds 53.70 lacs with AUM of Rs.2.21 lakh crore.
Over 15,000 corporates have adopted NPS and have registered 19.25 lacs employees under NPS.
The keynote speaker at the event today was Deepak Mohanty, Chairperson, PFRDA. In his address, Mohanty emphasised the growing concerns related to an aging society and increasing life expectancy, underscoring the necessity for adequate pension coverage.
He further elaborated on the efficiency, scale, and returns that NPS has delivered and urged corporates and the SMEs to adopt NPS for the benefit of their employees.
Sumit Kumar, CGM- PFRDA explained the product benefits and features of NPS and highlighted the importance of NPS for corporate employees. The conference was attended by over 130 delegates from 65 MSMEs and 8 Points of Presence.
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