NPS is a voluntary social security benefit that allows subscribers to invest in schemes managed by pension fund houses
With a flurry of excitement around new aged unicorns and interest garnered in IPOs, it appears India is moving towards a Private Market platform
Of the total, the number of subscribers under the APY stood at 288.60 lakh as of June 30, an increase of 33.95% from the year-ago period
The subscriber has option to defer purchase of annuity for a maximum period of three years, from the date of attainment of 60 or age of superannuation
PFRDA has witnessed remarkable growth in NPS subscribers over the years with 74.10 lakh government employees in the scheme and 28.37 lakh individuals
Retirement planning is crucial for everyone in a country like India which has a very weak social security net
PFRDA is the statutory authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of NPS, APY and pension
Experts suggest people should view NPS as a long-term investment option
Currently, NPS gives two investment options to choose from — Active and Auto
The overall subscriber base under the two schemes --National Pension System and Atal Pension Yojana-- stood at 3.46 crore by April 2020