Pension Fund Regulator Organise NPS Service Week

Pension fund regulator PFRDA will organise a week-long service-oriented campaign, aimed at building awareness and improving information dissemination towards flagshipNational Pension System (NPS), from February 1.
Pension Fund Regulatory And Development Authority (PFRDA), which will be completing two years of its statutory status on February 1, has “observed” that the subscribers/employees in state governments as well as the Centre are not fully aware of various functions and facilities available under the NPS. “A large number of the queries/grievances received from these subscribers pertain to elementary issues like non-receipt of Statement of Transaction, I-PIN, T-PIN etc. In order to promote awareness regarding importance of updation of latest contact details in Permanent Retirement Account Number ( PRAN), the regulator said it will be organising the ‘NPS Service Week’ from February 1-6 in all nodal offices under the Centre and state governments. During the service week, the activities to be undertaken include printing of transaction statement for the subscribers on specific request and updation of subscribers details. NPS is an attempt towards finding a sustainable solution to the problem of providing adequate retirement income to every citizen of India. NPS has been implemented for all government employees (except armed forces) joining central government on or after January 1, 2004. Most of the state/UT governments have also notified the NPS for their new employees. It has been made available to every Indian citizen from May 2009 on a voluntary basis. Currently, NPS has more than 1.13 crore subscribers with total Asset Under Management ( AUM) of more than Rs 1.08 lakh crore.

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