PFRDA conducts Conference on National Pension System - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Tuesday, March 13, 2018

PFRDA conducts Conference on National Pension System

PFRDA conducts Conference on National Pension System 
(NPS) for Corporates in association with Willis Towers Watson at 
PFRDA in its endeavor to promote NPS among the corporateshave embarked upon conducting NPS workshops at various locations across the country. 
1. A Corporate meet was conducted at Hyderabad on 9th March 2018 in association with Willis Towers Watson.
2.  Shri SucharitaPalepu,Global Head (Human Resources), Tech Mahindra Limitedwelcomed the participants and the speakers to the conference and applauded the efforts of PFRDA and Willis Towers Watson of creating awareness about NPS among corporates.
3.  Shri A. G. Das, Executive Director, PFRDA addressed the participants and briefed the contours of NPS for Old age income security. He informed that in the changing demographic status of the country, pension is one of the most important factor to be considered by everyone. National Pension System (NPS) promoted by Government provides the platform to every segment of the society for savings for retirement.He requested the participants to think NPS not only for tax benefits, but also as a product which can yield market related returns and secure regular income in old age.
4.  Shri Kulin Patel, Head Retirement, South East Asia, Willis Towers Watson briefed the participants on the need and supply of retirement benefits and the role NPS plays in fulfilling this demand. 
He informed that the myths about young professionals are adverse to saving are untrue as per their recent survey and employers have a larger role to play in guiding its employees to inculcate the behavior of savings for retirement which in turn would promote employees loyalty to its employers. 
He further clarified on the subject of transferring superannuation funds to NPS by corporates and the points on which corporates should ponder upon.
5. Shri Mono MG Phukon, General Manager, gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employees as well as to the employer. 
He requested the participants to utilize this meet for better understanding of NPS and implementing the same in their respective organizations.
6.Shri Bhushan Maideo, Karvy Computershare which a registered Central Recordkeeping Agencyinformed the participants on process flow of registration of corporates and their employees under NPS.
7. More than 170 participantsof which 60 corporates attended the workshop. Representative of PoPsbased at Hyderabad and Central Recordkeeping Agency were also present for the conference.
8.  PFRDA officials clarified the queries regarding joining of NPS, tax benefits, POPs details, timelines, transfer of superannuation fund to NPS, annuity etc. to the participants.

9. As on 6thMarch 2018, more than 13.16 lakh subscribers are registered under NPS-Private Sector (All Citizen and Corporate). There are more than 6.83 lakh employees fromthe 4,365 corporates who have joined NPS under NPS Corporate Model around 6.33 lakh subscribers have joined NPS under NPS-All Citizen Model. The overall number of NPS and APY subscribers has crossed 2.05 Croresand the Asset under Management (AUM) has crossed 2.25 lakh crores.

PFRDA’s endeavor is to significantly scale up these segments during the ongoing months.

PFRDA conducts Conference on National Pension System Reviewed by S. Chitra on March 13, 2018 Rating: 5 PFRDA conducts Conference on National Pension System  (NPS) for Corporates in association with Willis Towers Watson at  PFRDA in its e...

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