Failure to join NPS resulted financial burden of Rs 670 crore for TN: CAG Report
1 year, 11 months ago

Failure to join NPS resulted financial burden of Rs 670 crore for TN: CAG Report

New Indian Express  

CHENNAI: The Tamil Nadu government could have saved Rs 670.36 crore if it had joined the national pension scheme and designated a fund manager to manage the fund in compliance with the Pension Fund Regulatory and Development Authority, a CAG report said. It said the state continued to invest its defined contributory pension scheme contributions in Life Insurance Corporation of India and T-Bills, which earned a return of 5.47 per cent and 4.29 per cent respectively. Had the government joined NPS and appointed designated fund managers, PF subscribers would have got higher returns, the report said. Instead, out of the total amount of Rs 53,462.93 crore in the fund as of March 31, 2022, Rs 36,510 crore was invested with the LIC’s 'new group superannuation scheme with cash accumulation plan'.

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History of this topic

How India’s youngest pension fund gamed a falling market to outdo its older rivals
3 weeks, 4 days ago

How India’s youngest pension fund gamed a falling market to outdo its older rivals

Live Mint  

The annual report card for equity pension fund managers is out, and DSP's NPS Equity Fund has delivered a staggering 11.68% return in the last one year—five times higher than the second-best performer, which posted a modest 2.3%. Among the 11 funds in this category, six recorded negative returns in the last year, according to the pension fund regulator's NPS …

NPS Assets to Reach Rs 15 Lakh Crore by Year End
3 months, 1 week ago

NPS Assets to Reach Rs 15 Lakh Crore by Year End

Deccan Chronicle  

Mumbai: The assets under management of the National Pension System are projected to reach Rs 15 lakh crore by the end of the current fiscal year, according to Pension Fund Regulatory and Development Authority Chairman Deepak Mohanty. “The total subscribers at this moment are more than 8 crore, out of which in NPS there are about 1.6 crore subscribers and …

NPS Assets To Reach Rs 15 Lakh Crore By End Of Fiscal Year: PFRDA Chairman
3 months, 1 week ago

NPS Assets To Reach Rs 15 Lakh Crore By End Of Fiscal Year: PFRDA Chairman

ABP News  

The assets under management of the National Pension System are projected to reach Rs 15 lakh crore by the end of the current fiscal year, according to Pension Fund Regulatory and Development Authority Chairman Deepak Mohanty. The newly formed association includes pension fund managers, points of presence, central record-keeping agencies, trustee banks, custodians, aggregators, annuity service providers, pension agents, retirement …

National Pension System and Atal Pension Yojana corpus surpasses Rs 12.3 Lakh Crore, targets Rs 15 Lakh crore this fiscal
9 months, 2 weeks ago

National Pension System and Atal Pension Yojana corpus surpasses Rs 12.3 Lakh Crore, targets Rs 15 Lakh crore this fiscal

New Indian Express  

CHENNAI: The Pension Fund Regulatory and Development Authority Chairman Deepak Mohanty on Friday said the total corpus under the National Pension System and Atal Pension Yojana has crossed Rs 12.3 lakh crore as of now and a target has been set at Rs 15 lakh crore this fiscal year. Addressing reporters here, Mohanty said the government employees covered under the …

Over ₹10 lakh crore under its watch, NPS to ease withdrawal options
1 year, 6 months ago

Over ₹10 lakh crore under its watch, NPS to ease withdrawal options

The Hindu  

State governments that have ostensibly opted out of the National Pension System for their employees and have reverted to the Old Pension Scheme that guaranteed 50% of final salary as monthly pension, continue to remit due contributions to the NPS corpus. State government employees account for the largest chunk of the savings pool which crossed ₹10 lakh crore on August …

Some States lagging behind on NPS dues, Centre tells RS
2 years ago

Some States lagging behind on NPS dues, Centre tells RS

The Hindu  

Some States are falling behind in making contributions towards their employees’ retirement savings under the New Pension Scheme, the Finance Ministry indicated on Tuesday, flagging “an increasing divergence of practices between different State Governments” in the way they handle pension obligations for staff recruited after 2004. While a majority of the States are paying the correct dues towards their employees’ …

NPS Subscribers Can Now Invest Up To 75% In Equity — Here's What It Means
2 years, 4 months ago

NPS Subscribers Can Now Invest Up To 75% In Equity — Here's What It Means

News 18  

The Pension Fund Regulatory Authority has recently revised the equity allocation standards for National Pension System accounts. As a result, NPS subscribers can now invest up to 75 percent of their funds to equity under active choice without any conditions of tapering from the age of 51 years as earlier. Under NPS-All Citizen Model, as of now, subscribers have the …

PFRDA Looks to Offer Guaranteed Pension Programme Under NPS
2 years, 7 months ago

PFRDA Looks to Offer Guaranteed Pension Programme Under NPS

News 18  

Bengaluru, Aug 5: The Pension Fund Regulatory and Development Authority is mulling over a guaranteed pension programme under the National Pension System and it may launch it from September 30. “Over a 13-year period, we have given a compounded annual growth of more than 10 per cent… 10.27 per cent to be precise. The PFRDA chairman said the size of …

'Nagaland government wrongly used funds belonging to employees': CAG report
4 years, 1 month ago

'Nagaland government wrongly used funds belonging to employees': CAG report

Hindustan Times  

The apex auditor, Comptroller and Auditor General of India has found that the Nagaland government has incorrectly used the funds belonging to its employees by failing to transfer ₹62.01 crore under the National Pension System to the designated authority. As per the CAG audit report on state finances for the year ended 31 March 2019, the state government collected ₹86.74 …

National Pension Scheme (NPS) changes financially untenable: Finance Ministry
4 years, 9 months ago

National Pension Scheme (NPS) changes financially untenable: Finance Ministry

Live Mint  

The Finance Ministry has ruled out proposals by a federation of central and state governments employees seeking modification in the National Pension Scheme, saying its corpus is invested in a prudential manner to ensure optimal returns and suggested that changes will be financially untenable. "In fact, the Asset Under Management of the central government and state government schemes have been …

Centre permits partial withdrawal to NPS subscribers
6 years, 10 months ago

Centre permits partial withdrawal to NPS subscribers

ABP News  

New Delhi, May 5 : Partial withdrawals will now be allowed to subscribers under the National Pension System, who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications, the Centre stated on Friday. Following the Board meeting of the Pension Fund Regulatory and Development Authority, it was decided that individual NPS …

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