"There are several variants in our schemes now. Last year we saw the Swavalamban Yojna subscription doubling and this year also we expect the same. This is a part of the Prime Minister's Jan Dhan scheme now," the Pension Fund Regulatory and Development Authority Chairman Hemant G Contractor told PTI here.
Under the Swavalamban Yojna, the regulator is planning to add 50 lakh new subscribers by the end of the fiscal, Contractor said, adding the scheme costs Rs 50 per year per person and it is mainly for the unorganised sector. The government makes Rs 1,000 contribution per person.
"We are trying to reach out to as many people as possible under this scheme. Hence we have roped in banks, MFIs, NGOs and NBFCs as they have wider network," he added.
He also said that PFRDA is going to review the cost structure of its schemes which is very low.
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"Even though there has been good growth in other schemes, still keeping in view the huge potential involved in them a lot more needs to be done," Contractor added.
"We have got 1,506 companies registered with us, which involve 3 lakh employees," he said.