New Delhi, December 20: The Pension Fund Regulatory and Development Authority on Monday said number of subscribers registered in state government sector under the National Pension Scheme has increased to 32 lakh and also the assets under management (AUM) is touching approximately Rs 79,000 crore.
Speaking at a conference NPS (National Pension Scheme) implementation by the state governments, PFRDA Chairman Hemant Contractor urged the state governments to frame timelines for all the activities specified by PFRDA. Currently, only 11 state governments have issued instructions regarding timelines. Besides, framing of NPS rules for the respective states is also gaining importance and fixation of salary date will help in fixing accountability, he said.
Contractor advised the delegates about appointment of ombudsman which puts onus on the state governments to ensure prompt resolving of grievances in centralized grievance management system. He also discussed about the appointment of second CRA which will provide more choice to the state governments. The Authority's Member (Finance) R. V. Verma advised the state governments to ensure 100 percent subscriber coverage month on month. He laid stress on the inclusion of NPS related activities within the scope of audit of the state governments.
New subscribers of National Pension System (NPS) will not have to submit physical application for opening the account in case it is e-verified by through Aadhaar number. With e-signature facility, a large number of people having Aadhaar number will be able to open NPS account without needing physical documents.
The 16-digit unique identification number in your Aadhaar card has become the one point source for all your needs, which is not limited to only an identity proof or an address proof, but it is also expanding its dimensions to help people go digital. Aadhaar is used as a verification authentication to do your KYC under NPS accounts.
If you want to get monthly income after your retirement, you need to start saving in an NPS account. National Pension Scheme (NPS) is a post-retirement scheme regulated by the Pension Fund Regulatory and Development Authority of India (PFRDA), introduced under the Government of India. The account can be opened by an individual or a body corporate.