Efforts on to make NPS available at all bank branches, post offices: PFRDA Chairman
New Delhi, Sep 28 (PTI) 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 NPS subscribers from the private sector at corporate and individual levels In the last fiscal, the addition was 10 lakh subscribers.
