Pfrda

Deepak Mohanty new PFRDA chairperson, Mamta Shankar named whole-time member

Mohanty was whole-time member (economics) of PFRDA and retired in May 2022

National Pension Scheme subscribers increases by 23%: PFRDA data

The Corporate Scheme too witnessed a jump of 20 per cent, as the subscriber base rose to 16.63 lakh from 13.84 lakh during the year-ago period

Old pension scheme bad for India: PFRDA ex-boss Supratim Bandhyopadhyay

"The old pension scheme is like accepting a post-dated cheque of a bank that is bound to fail"

Can minimum guaranteed scheme in NPS assure states to not go back to OPS?

Under OPS, there is no defined contribution from employees but there is assured pension. However, NPS has defined contribution but no assured returns in terms of some proportion to last drawn salary

No provision to refund accumulated corpus under NPS to state govt: FinMin

MoS for finance says five states have reverted to Old Pension Scheme for their staff

More than 50 million citizens subscribe to Atal Pension Yojana: PFRDA

Pension Fund Regulatory & Development Authority (PFRDA) on Monday said more than 5 crore people have enrolled under Atal Pension Yojana (APY), the ?agship social security scheme of the central government. The scheme has done very well in the calendar year 2022 by enrolling more than 1.25 crore new subscribers in comparison to 92 lakh new subscriber's enrolment in the calendar year 2021, PFRDA said in a statement. Till date, 29 banks have already surpassed the annual target allocated by the government of India, it said. In the public sector bank category, Bank of India, State Bank of India and Indian Bank have achieved the allocated targets, while in the Regional Rural Bank (RRB) category, 21 banks have achieved the allocated targets, with the highest achievement by Jharkhand Rajya Gramin Bank, Vidharbha Konkan Gramin Bank and Baroda UP Bank, it said. PFRDA, in line with the saturation drive as announced by Prime Minister Narendra Modi in his Independence Day speech of 2021, took ..

A first: Atal Pension Yojana logs 10 million enrolments in a calendar year

The number of enrolments in 2022 rose to 12.5 million from 9.2 million in 2021

PFRDA expects AUM of Rs 9 trillion by end of FY23, shows data

Amongst the newer assets, PFRDA has invested around Rs 1,100 crore in REITs and InvITs, accumulating better returns than all other categories

Asset under management likely to be around Rs 9 trillion in FY23: PFRDA

Pension regulator Pension Fund Regulatory and Development Authority (PFRDA) on Friday said the asset under management is likely to be around Rs 9 lakh crore this financial year due to market volatility. "Earlier, we were looking at an AUM of over Rs 10 lakh crore, however, due to the Russia-Ukraine war and other geopolitical scenarios the market was volatile and we are hoping to be over Rs 9 lakh crore," PFRDA Chairman Supratim Bandyopadhyay told reporters. There has been an increase in fresh funds to Rs 1.5 lakh crore as of December 2022 compared to Rs 1.3 lakh crore in the previous fiscal. As of December 2022, the number of subscribers for the National Pension Scheme (NPS) and Atal Pension Yojana (APY) grew by 24.62 per cent to 606.07 lakh from 486.35 lakh in January 2022. According to PFRDA data, the net invested contribution as on December 31, 2022, from the central government grew to Rs 1.65 lakh crore from Rs 1.37 lakh crore on January 1, 2022, states rose to Rs 3.24 lakh cro

NPS guaranteed return product to have floating rates, reset every year

Guarantee benchmarked to the rate of return on ten-year government security

NPS partial withdrawal rule changing for these subscribers from Jan 1

PFRDA had launched the online partial withdrawal facility in January 2021 to help subscribers cope with the Covid-19 pandemic

Cabinet secretary-led panel to pick candidate for PFRDA chairman on Dec 16

A search panel headed by the Cabinet secretary is scheduled to interview shortlisted candidates on December 16 for the post of chairman of Pension Fund Regulatory and Development Authority (PFRDA), sources said. The post of the pension fund regulator will fall vacant following completion of term of incumbent Supratim Bandyopadhyay next month. The Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet secretary would interview shortlisted candidates, sources said. The selected name from the interview will be sent to the Appointments Committee of the Cabinet headed by the Prime Minister for final approval, they added. Besides the cabinet secretary, other members of FSRASC include financial services secretary and two independent members. The FSRASC is also free to identify and recommend any other person, on the basis of merit, who has not applied for the post. As per the Pension Fund Regulatory & Development Authority Act, the chairperson can hold office

Consistency should be key criterion when choosing NPS fund manager

Asset allocation to NPS should depend on age, risk appetite and asset mix in existing investments

PFRDA appoints Suraj Bhan as chairman of NPS Trust with effect from Nov 12

Pension Fund Regulatory & Development Authority has appointed Suraj Bhan as the chairman of the National Pension System Trust (NPS Trust), responsible for managing funds under the National Pension System (NPS). Consequent upon the tenure of the present chairman of the trust coming to an end on November 11, 2022, the authority has designated Suraj Bhan as chairperson of the board of the Trustee with effect from November 12, 2022, Pension Fund Regulatory & Development Authority (PFRDA) said in a circular. Bhan has been a Trustee on the Board of NPS Trust since 2018. He joined the Indian Economic Service in 1983 and retired as Director General of Labour Bureau, Chandigarh, in January 2018. He has varied experience across several sectors with the government and public sector undertakings in the areas of economic policy, business, industry and finance.

PFRDA further eases paperless onboarding with CKYC documentation

Easing the paperless on-boarding process further, pension fund regulator PFRDA on Monday said that documentation for joining its scheme can be furnished through the government's Central KYC (CYC). Central KYC (CKYC) is the government's initiative which allows users to complete their KYC (know your customer) only once for interacting with multiple service providers across the financial sector falling under various regulators. The Pension Fund Regulatory and Development Authority (PFRDA) already facilitates digital onboarding for its pension schemes under National Pension System (NPS) through documents issued via Digilocker, Aadhaar eKYC, PAN or bank account details. In the series of various digital initiatives as part of Azadi Ka Amrit Mahotsav (AKAM) to mark 75 years of India's Independence, PFRDA said the prospective subscribers are provided with another option for opening NPS Account through CKYC which is online and paperless. CKYC is managed by the Central Registry of ...

Changed and new rules for National Pension Scheme: All you need to know

Here is a list of the changed and new rules by Irdai and PFRD regarding the National Pension Scheme

Retirees can now opt to continue with 'default' investment plan under NPS

After the new rule kicks in, retirees will be able to choose to continue with the existing plan or choose a new PFM and investment plan

Fixed investment tenor of 10 years under guaranteed return scheme: PFRDA

Only those investors who remain invested for 10 years will get a guaranteed return and if the actual return falls below the assured amount, pension fund managers shall bridge the gap

Govt employees' pension: 'Old versus new' debate gathers momentum

Reverting to OPS is being considered an easier option from a political standpoint, but could financially stress the states

Govt employees' pension: 'Old versus new' debate gathers momentum

Reverting to OPS is being considered an easier option from a political standpoint, but could financially stress the states