PFRDA observes NPS Diwas on today with planned initiatives to increase awareness and pension coverage in India

New Delhi : The Pension Fund Regulatory and Development Authority (PFRDA), along with all its registered intermediaries across the country, observed National Pension System Diwas (NPS Diwas) today. This campaign was dedicated towards ‘Azadi Ka Amrit Mahotsav’ clelebrations and to encourage citizens to join NPS for achieving financial freedom upon retirement through pension as a regular income.

The Pension Regulator carried out a host of activities during the day-long event at its headquarters and was supported by the Point of Presence (distribution channels-Banks, NBFC, Fintech) by orgainising NPS awareness events at their offices and branches. As a mark of their contribution towards this eventful day, State Bank of India enabled NPS enrollments in their YONO Mobile App and Kotak Mahindra Bank likewise in their Mobile Banking App.

PFRDA Chairperson Shri Supratim Bandyopadhyay, speaking on the occasion, said: “We are very happy to announce the NPS Diwas. This NPS Diwas is coinciding with ‘The Day of Older Persons’. In the journey so far, NPS has seen a 60% jump in NPS onboarding in the first six months of this financial year and our returns (in CAGR) is more than 10% over a period of 12 years. The total corpus has grown to Rs. 6.67 trillion and the total number of subscribers is 4.60 crore as on 25th September, 2021.”

Delving into the details, he threw his insights spoke about the necessity of having a pension plan and how the NPS meets all requirements of a subscriber with its flexible architecture and advantages.