The Pension Fund Regulatory and Development Authority (PFRDA) is actively working towards expanding the accessibility of the National Pension System (NPS) to all bank branches and post offices, says Chairman Deepak Mohanty. This effort seeks to enhance the reach of pension schemes, ensuring that NPS benefits are easily accessible to the public.
The PFRDA has partnered with Regional Rural Banks and banking correspondents to facilitate NPS distribution, particularly in villages and small towns. While NPS is currently available in many bank branches, the goal is to add 13 lakh new private sector NPS subscribers, building on last year's addition of 10 lakh subscribers. The NPS is known for its promising returns, with equity investments showing a return of 12.84% since inception.