{"id":12791,"date":"2020-01-08T16:13:00","date_gmt":"2020-01-08T10:43:00","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=12791"},"modified":"2020-01-08T16:13:00","modified_gmt":"2020-01-08T10:43:00","slug":"mindset-to-blame-for-poor-response-to-nps","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/mindset-to-blame-for-poor-response-to-nps\/","title":{"rendered":"\u2018Mindset to blame for poor response to NPS\u2019"},"content":{"rendered":"\n<p><strong>News:<\/strong>According to the Pension Fund Regulatory and Development Authority (PFRDA),National Pension System (NPS) is a less-preferred saving option due to a certain mindset of individuals and corporates.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The PFRDA has said that there are around 7,000 corporates companies registered with PFRDA.However, only 2-4% of employees of these registered companies are covered under NPS.<\/li><li>Further,the pension system also cover small number of individuals and corporates while a large population of small, medium, and micro enterprises and start-ups are yet to be part of the pension market.<\/li><li>Hence,the central government is considering to double tax benefits to \u20b91 lakh from \u20b950,000.It may also allow PFRDA to become a single regulator for all pension products to give the entity more validity and standing in the country\u2019s under tapped pension market.<\/li><\/ul>\n\n\n\n<p><strong>About National Pension System(NPS):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>National Pension System (NPS) is a government-sponsored pension scheme.It was launched in January 2004 for government employees.However,in 2009,it was opened to all sections.<\/li><li><strong>Objective:<\/strong>The<strong> <\/strong>scheme allows subscribers to contribute regularly in a pension account during their working life.&nbsp;<\/li><li>Upon retirement,subscribers can withdraw a part of the corpus in a lump sum and use the remaining corpus to buy an annuity to secure a regular income after retirement.<\/li><li><strong>Implementation:<\/strong>NPS is being implemented and regulated by Pension Fund Regulatory and Development Authority in the country.<\/li><li>National Pension System Trust(NPST) established by PFRDA is the registered owner of all assets under NPS.<\/li><li><strong>Eligibility:<\/strong>Any individual citizen of India (both resident and Non-resident) in the age group of 18-65 years can join NPS.<\/li><li>Recently,PFRDA has permitted Overseas Citizen of India(OCI) to enroll in the NPS at par with Non-Resident Indians.<\/li><\/ul>\n\n\n\n<p><strong>Additional information:<\/strong><br><\/p>\n\n\n\n<p><strong>About PFRDA:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>PFRDA is a statutory body established under the Pension Fund Regulatory Development Authority(PFRDA) Act,2013.<\/li><li>Its objective is to be a model regulator for promotion and development of an organized pension system to serve the old age income needs of people on a sustainable basis.<\/li><li>It develops, promotes and regulates the pension industry under National Pension System and also administers the Atal Pension Yojana.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:According to the Pension Fund Regulatory and Development Authority (PFRDA),National Pension System (NPS) is a less-preferred saving option due to a certain mindset of individuals and corporates. Facts: The PFRDA has said that there are around 7,000 corporates companies registered with PFRDA.However, only 2-4% of employees of these registered companies are covered under NPS. Further,the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/mindset-to-blame-for-poor-response-to-nps\/\">Continue reading <span class=\"screen-reader-text\">\u2018Mindset to blame for poor response to NPS\u2019<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3902,3904],"class_list":["post-12791","post","type-post","status-publish","format-standard","hentry","category-economy","tag-national-pension-system","tag-pfrda","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704812163},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/12791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=12791"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/12791\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=12791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=12791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=12791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}