The pension regulator aims to encourage every citizen (working professionals and self-employed professionals) to plan towards creating a financial cushion to ensure for onself a financially sound future after retirement.
NPS subscribers will enjoy the benefits, power of compounding now and reap many of the benefits after retirement.
PFRDA Chairperson Supratim Bandyopadhyay said: “We are happy to announce October 1 as NPS Diwas, especially for pension and retirement planning. We are excited to be a part of the Azadi Ka Amrit Mahotsav of the Government. Through this campaign, we want to create awareness about pension planning among the public. As a regulatory body, our foremost aim is to cover all eligible citizens under a pension scheme to fulfil the vision of a pensioned society for India.”
Pension Fund Regulatory and Development Authority is the regulatory body under the jurisdiction of the Ministry of Finance, Government of India for overall supervision and regulation of pension in India. The Pension Fund Regulatory & Development Authority Act was passed on 19 September 2013 and the same was notified on 1 February 2014.
PFRDA is regulating NPS, subscribed by employees of Govt. of India, State Governments and by employees of private institutions/organizations & unorganized sectors. The PFRDA is ensuring the orderly growth and development of the pension market.