The Pension Fund Regulatory and Development Authority (PFRDA) has kickstarted a campaign under ‘Azadi Ka Amrit Mahotsav’. The Pension Regulator will be observing 1st October as the National Pension System Diwas (NPS Diwas) to promote pension and retirement planning among the citizens of India, and enjoy financial independence post retirement. PFRDA is promoting this campaign on its social media platforms.
The pension regulator aims to encourage every citizen (working professionals and self-employed professionals) to plan towards creating a pension corpus to ensure for onself a financially sound future after retirement. NPS subscribers will enjoy the benefits of tax deduction on contribution, power of compounding and reap the benefits of regular income after retirement.
PFRDA Chairperson Shri Supratim Bandyopadhyay said: “We are happy to continue our celebration of October 1st as “NPS Diwas – A Day for Pension Planning”. Through this campaign, we reiterate our commitment towards creating 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.”
As on 24th September, 2022, total number of subscribers under NPS is 571.86 lakhs (5.72 crores) and total Assets Under Management (AUM) is 7,99,467 crore (7.99 trillion).