Page 2 - Pfrda

Interim Budget may raise pension floor for unorganised sector workers

PFRDA says current amount may not help attract new Atal Pension subscribers

PFRDA seeks tax parity for NPS contributions with PF contributions

The aspiration is to take it to 14 per cent over the period to encourage wider acceptance of pension

New rules of NPS: Should you opt for systematic lump Sum withdrawal?

In a circular dated October 27, PFRDA proposed to provide the option of phased withdrawal of the lump sum through Systematic Lump Sum Withdrawal (SLW) facility

NPS Rules: PFRDA to allow users to withdraw up to 60 per cent pension fund

PFRDA has started the process of implementing new rules which will allow users to withdraw up to 60 per cent of their pension corpus. Here's all you need to know

Efforts on to make NPS available at all banks, post offices: PFRDA Chairman

Regulator PFRDA is working on ways to make the social security scheme National Pension System (NPS) available at all bank branches and post offices, according to its Chairman Deepak Mohanty. The efforts are to increase the penetration of pension schemes by making the NPS products easily available to the public. In an interview to PTI Bhasha, Mohanty said the PFRDA has roped in Regional Rural Banks (RRBs) and banking correspondents for the distribution of the NPS so that people even in villages and small towns will be able to easily avail the benefits of the scheme. "We are trying to make the NPS easily available to the people through all bank branches and post offices. We have also discussed this matter at the top management levels but ultimately it is up to the banks to take a decision on this matter," the PFRDA (Pension Fund Regulatory and Development Authority) Chairman said. Currently, NPS is available in many bank branches. He also said the aim is to add a total of 13 lakh NP

PFRDA asks govt to hike guaranteed pension under Atal Pension Yojana

Managed by PFRDA, the APY aims to establish a universal social security system for workers in the unorganised sector

Shift in leadership landscape? Non-govt chiefs at financial regulators

Will more regulators such as Trai follow suit?

AUM of NPS, APY crosses Rs 10 trillion: PFRDA chairman Deepak Mohanty

PFRDA plans to come out with a systematic withdrawal plan

PFRDA to allow pension funds for investments in sovereign green bonds

The AUM is expected to touch Rs 11 trn by the end of FY24

PFRDA to allow funds to invest in sovereign green bonds: Chairman Mohanty

Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty on Tuesday said the regulator will allow pension funds to invest in sovereign green bonds. The government is expected to issue sovereign green bonds in the second half of the current financial year as part of the overall market borrowing programme. Last financial year, the government raised Rs 16,000 crore from the maiden issuance of Sovereign Green Bonds (SGrBs) for funding public sector projects seeking to reduce carbon emissions. The regulator will allow pension fund to invest in sovereign green bonds as and when issued, Mohanty said. Currently, there are 10 pension fund managers that manage funds under the National Pension System. Talking about Atal Pension Yojana (APY) saturation drive, Mohanty said 29 lakh new subscribers have been enrolled under the scheme during the first quarter of the current financial year. The regulator has set a target of 1.3 crore new subscribers to be added under the

Growth in APY enrolments driven by minimum assured pension of Rs 1k

Higher slabs of Rs 2K, Rs 3K, Rs 4K & Rs 5K have seen a decline in FY23

PFRDA plans to introduce SWP under NPS by Sept: chairman Deepak Mohanty

Pension fund regulator PFRDA plans to come out with a systematic withdrawal plan which will provide flexibility to pension account holders to withdraw a lump sum fund as per their choice on completion of 60 years. "It is at a very advanced stage. Hopefully, by the end of next quarter we should be able to come out with a scheme like that," PFRDA Chairman Deepak Mohanty told PTI in an interview. Currently, National Pension Scheme (NPS) subscribers after turning 60 years withdraw up to 60 per cent of the retirement corpus as a lump sum while the remaining 40 per cent of the corpus mandatorily goes into buying an annuity. However, a systematic withdrawal plan will allow NPS subscribers to opt for periodic withdrawal either monthly, quarterly, half-yearly, or annually till the age of 75 years. "Many people requested that why we cannot stay with the fund. When my fund is giving a very good return why should I take an annuity. I like to stay on and draw that money on the frequencies on

Asset under management may cross Rs 10 trillion by Sept: PFRDA chairman

The AUM under pension schemes is expected to cross the landmark figure of Rs 10 lakh crore in the first half of this fiscal, helped by regular contributions from subscribers, PFRDA Chairman Deepak Mohanty has said. As per the latest figure, assets under management (AUM) -- including National Pension Scheme (NPS), Atal Pension Yojana (APY) and NPS Lite -- increased to Rs 9.58 lakh crore. "We have reached an AUM size of about Rs 9.5 lakh crore. So, one will not be surprised that by the middle of this financial year, we could cross the magical figure of 10 lakh crore of NPS corpus," he told PTI in an interview. It depends on so many other things like the return that the fund generates and the performance of the market, the Pension Fund Regulatory and Development Authority (PFRDA) chairman said. The AUM corpus is mark-to-market, so the adverse moment in the market impacts the corpus. Out of Rs 9.58 lakh crore, he said, NPS alone has a fund size of Rs 9.29 lakh crore while the remainin

NPS subscribers can soon opt for periodic withdrawals; check details here

PFRDA says subscribers can leave their 60% corpus in NPS and can receive it back in a staggered manner, such as monthly, quarterly, semi-annually, or annually, until the age of 75

Minimum assured return scheme in works; to be launched soon: PFRDA Chairman

Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty on Wednesday said the regulator is working on a pension scheme which could provide minimum assured return and something in this respect would come soon. He also said that there are about 5.3 crore subscribers of Atal Pension Yojana (APY). This year the target for enrolment is 1.3 crore as against 1.2 crore last year. "That is very much in the works...there we have to balance risk and return...somebody gives assurance and it will come with a cost. Like in APY, the government gives assurance and they bear the cost," he said. In a case of assured return, he said, the pension fund has to provide more capital because it is taking more risk. "We are considering that product. We have made some progress. We will come out with that product and at the same time that one would have to see that the return should be attractive," he said. With regard to APY, he said, PFRDA aims to increase enrolment under the sche

Pension scheme returns 'exceedingly good' versus benchmarks: PFRDA

The pension scheme in which central government employees are registered has returned 9.4% since inception while the one for state government employees has returned 9.2%

Would be premature to say if people have appetite for MARS: PFRDA's Mohanty

New chairman of PFRDA Deepak Mohanty tells Indivjal Dhasmana that systematic withdrawal plan as permissible under the current statute would soon be introduce

National Pension System scheme: PFRDA issued guidelines for exit request

National Pension System issued a circular to upload Withdrawal/ KYC documents to enable parallel processing exit and annuity to benefit subscribers

Enrolments under APY cross 52 million mark; AUM over Rs 27,200 crore

It saw its highest-ever enrolments in FY23 since the inception of the scheme

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

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