Kochi, November 30, 2024: The Pension Fund Regulatory and Development Authority (PFRDA) has organised an Interactive Corporate Awareness Programme on the National Pension System (NPS).

 This event, organized in collaboration with the Federation of Indian Chambers of Commerce & Industry (FICCI), underscores the pivotal role of retirement planning and aims to encourage corporate entities and individuals to adopt NPS for long-term financial security.

 The programme commenced with a Welcome Address by FICCI, setting the stage for insightful discussions on retirement planning and the benefits of the National Pension System (NPS). This was followed by a Keynote Address by Dr. Deepak Mohanty, Chairman, PFRDA, who emphasized the urgent need for adequate retirement planning in India, particularly considering the challenges posed by an aging population and changing social dynamics.

 The event featured notable discussions on the benefits of the NPS retirement scheme, led by Mr. Sumit Kumar, Chief General Manager, PFRDA. Shri Subash A.K., General Manager, Cochin Shipyard, shared insights on corporate implementation of NPS, highlighting best practices and success stories. Additionally, Shri Saurabh Chaturvedi, Vice President, HDFC Pension Management Co. Ltd., elaborated on the process of corporate onboarding under NPS and its advantages for corporates and its employees.

 Attendees was able to engage directly with industry leaders and experts. This programme is part of PFRDA’s ongoing efforts to enhance corporate participation in NPS and extend its benefits to a broader audience. Corporate entities, SMEs, and professionals are invited to join this interactive session and explore the vast opportunities offered by NPS for both employers and employees.

 The Significance of NPS

 The National Pension System (NPS) is a robust, transparent, and professionally managed framework designed to help individuals build a secure retirement corpus. With its tax benefits, flexible investment options, and competitive returns, NPS has become a preferred choice for both individuals and corporates seeking long-term financial security and retirement planning solutions.

 As of November 2024, the total Assets Under Management (AUM) for NPS and Atal Pension Yojana (APY) is ₹13.4 lakh crore, with the subscriber base of over 7.9 crore across the country. Kerala has shown encouraging growth in its contribution to NPS adoption. The state accounts for 3.38% of private sector subscribers under NPS, showcasing increasing awareness of the scheme’s benefits. Moreover, 216 corporates from Kerala are registered under NPS, out of a total of 18,152 corporates nationwide that have adopted the scheme for their employees.