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PFRDA hosts a special Press Meet in Bengaluru to accelerate awareness around NPS

Newsmantra — Thu, 18 Dec 2025 13:03:30 +0000

Bengaluru, December 18, 2025 – National Pension System (NPS) is a potent policy measure aimed at strengthening long-term cross-sectoral financial security by promoting disciplined retirement savings, diversified investment, and financial resilience. A special press meet was organised by PFRDA under the aegis of Chairperson Shri Sivasubramanian Ramann in Bengaluru earlier today with the objective of further amplifying awareness about NPS in the larger Public Interest.

Notably, the NPS subscriber base in India has grown significantly, surpassing 9 crore (90 million) by October 2025 while its combined Assets Under Management (AUM) along with Atal Pension Yojana (APY) crossed ₹16 lakh crore. The well-rounded subscriber base includes government (central & state), corporate, and all-citizens (including those in the informal sector). The subscriber base further received a momentous impetus in terms of growth owing to initiatives like financial inclusion for gig/platform workers and farmers.

NPS encourages regular contributions throughout a person’s working life much like a systematic investment plan (SIP) that builds a sizeable retirement corpus through compounding over decades. These disciplined savings besides serving as a tax saving instrument while being employed help beneficiaries prepare for a stable post-retirement financial planning without being dependent on sporadic investments, mortgaging gold or uncertain post-retirement income.

Addressing media personnel, Shri Sivasubramanian Ramann, Chairperson PFRDA said, “PFRDA is committed to the vision of a pensioned society, ensuring that pension coverage reaches all sections of the private sector. With a target to bring 25 crore private-sector citizens under the pension net over the next five years, PFRDA is focusing on key segments such as platform workers, agripreneurs and MSMEs.Over the last six months, PFRDA has undertaken several measures to enhance subscriber flexibility, organised awareness programmes across 30 Tier-II and Tier-III cities, and plans to expand outreach to 100 cities by March 2026. These efforts are complemented by strengthening distribution channels, including the introduction of the Multiple Scheme Framework (MSF), which enables pension funds to design segment-specific schemes and permits up to 100% equity investment under MSF.NPS has consistently delivered competitive returns since inception, with even the composite scheme carrying only 15% equity exposure generating returns of over 9%, reinforcing NPS as a robust and reliable retirement solution.

Pension Fund Regulatory and Development Authority (PFRDA) has notified the PFRDA (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2025 to enhance flexibility, simplify exit procedures, and provide greater choice to NPS subscribers.

Key amendments include increase in entry and exit age up to 85 years, allowing non-government NPS subscribers to withdraw up to 80% of their retirement corpus as lump sum at exit, and reduction in the mandatory annuity purchase requirement to a minimum of 20% of the accumulated pension wealth in specified cases. The revised regulations also allow normal exit after completion of 15 years of subscription or attainment of 60 years of age, whichever is earlier for both common scheme and MSF, removal of lock-in period for All Citizen subscribers, simplified continuation and exit processes, and permission to avail financial assistance by marking lien on NPS contributions, within prescribed limits.

The revised regulations aim to make NPS more inclusive, subscriber-friendly, and aligned with the evolving retirement needs of citizens.Bottom of Form.

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PFRDA Felicitates Top Performers as Atal Pension Yojana Crosses 50 Lakh Subscribers in a Year

Newsmantra — Wed, 27 Aug 2025 07:42:01 +0000

The Pension Fund Regulatory and Development Authority (PFRDA) hosted the Atal Pension Yojana (APY) Annual Felicitation Programme, honouring the stellar efforts of 44 APY Service Providers (SPs),10 State-Level Bankers’ Committees (SLBCs), along with top-performing branches and district managers across the country. With APY achieving a historic milestone of enrolling over 50 lakh subscribers in a single year, the event highlighted the scheme’s growing impact, particularly among women and youth.

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Shri Sivasubramanian Ramann has assumed charge as the Chairperson of the Pension Fund Regulatory and Development Authority

Newsmantra — Mon, 23 Jun 2025 07:28:03 +0000

Shri Sivasubramanian Ramann has assumed charge as the Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) Shri Ramann served as an officer of the Indian Audit & Accounts Service (IA&AS) from the 1991 batch. Prior to joining PFRDA, he served as the Deputy Comptroller & Auditor General and Chief Technology Officer in the Office of the Comptroller and Auditor General of India. He has previously held several leadership positions, including Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI), Managing Director and Chief Executive Officer of National E-Governance Services Ltd. (NeSL), and Principal Accountant General of the State of Jharkhand. For period 2006 to 2013, he also served as Chief General Manager (CGM) and then as Executive Director at the Securities and Exchange Board of India (SEBI).

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Regional Rural Banks, Bandhan Bank from Kolkata surpasses pension funds subscriber’s target

Newsmantra — Mon, 12 May 2025 13:28:51 +0000

Kolkata, 12th May 2025 –India’s East Zone has emerged amongst the leading subscribers in pension funds with 11 Regional Rural Banks (RRBs) from the East Zone and Kolkata-based Bandhan Bank having surpassed their pension fund targets.

Basis this development, India’s pension fund regulator, Pension Fund Regulatory and Development Authority (PFRDA) has felicitated Kolkata-based Bandhan Bank and 11 Regional Rural Banks (RRBs) from the East Zone were felicitated for having surpassed their pension fund targets.

While Bandhan Bank, achieved 101% of its target, Jharkhand Rajya Gramin Bank led among the RRBs, achieved 393% of its annual target, followed by Tripura Gramin Bank- 351%, Odisha Gramya Bank- 154% and Assam Gramin Vikash Bank- 149%.

Similarly, Chhattisgarh Rajya Gramin Bank- 144%, Uttar Bihar Gramin Bank – 131%, Bangiya Gramin Vikash Bank– 131%, Utkal Grameen Bank- 121%, Manipur Rural Bank- 118%, Uttarbanga Kshetriya Gramin Bank- 118% and Dakshin Bihar Gramin Bank – 116%. Amongst Cooperative Banks, Mizoram Co-op Apex Bank achieved 125% of its target.

Felicitating these financial institutions for their outstanding performance and for their partnering and engaging with Government of India’s big push to financial security and financial inclusion, the PFRDA recently organised a felicitation-cum-strategy review programme for the Atal Pension Yojana (APY) in Kolkata.

PFRDA honoured top- performing banks, RRBs and Cooperative Banks from the East Zone for their exceptional contribution to APY’s growth and outlined strategic priorities to further expand its reach in FY 2025–26.

Chairing the session, Dr. Deepak Mohanty, Chairperson, PFRDA, emphasised on the East Zone’s leadership in APY expansion, lauded banks’ contributions, and urged collective efforts to build a pensioned and financially secure India. He was joined by Ms. Mamta Shankar, Whole Time Member (Economics), and Shri Pravesh Kumar, Chief General Manager, PFRDA, along with senior representatives from participating banks and SLBCs/UTLBCs.

In FY 2024–25, new enrolments under Atal Pension Yojana crossed 1.17 crore, recording an 18% growth, pushing total coverage to 7.61 crore. Of these new enrolments, a record 55% were women, reflecting increasing financial awareness and gender balance. APY has seen strong momentum with more than 1 crore new subscribers in each of the past three financial years. Eastern zone’s banks played a pivotal role, with Public Sector and Regional Rural Banks driving grassroots enrolments.

The SLBCs of the East Zone have played a pivotal role in the success of APY, with most states surpassing the annual targets for FY 2024-25. Jharkhand led the way with an outstanding 184% achievement, followed by Bihar (175%), Tripura (158%), West Bengal (148%), Assam (130%), Chhattisgarh (115%) and Odisha (111%).

With APY emerging as a trusted retirement solution for millions, PFRDA reaffirmed its commitment to working closely with banks and post offices to ensure every eligible citizen is covered under the scheme, securing a dignified future for all.

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Shri Sivasubramanian Ramann appointed Chairman, Pension Fund Regulatory and Development Authority

Newsmantra — Thu, 03 Apr 2025 05:37:18 +0000

Govt of India has appointed Shri Sivasubramanian Ramann (IA&AS: 1991) to the post of Chairman, Pension Fund Regulatory and Development Authority (PFRDA) for a tenure of five years. Currently, he is working as Deputy Comptroller and Auditor General & Chief Technology Officer (CTO), Office of Comptroller & Auditor General of India. He replaces Dr Deepak Mohanty who had assumed charge as Chairperson, PFRDA on March 20, 2023.

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Round table meeting “NPS for Corporates, the foundation of a better future”

Newsmantra — Mon, 10 Jun 2024 07:36:55 +0000

The National Pension System (NPS) was launched for all employees (except armed forces) joining the Central Government workforce on or after 1 January 2004. Many State/UT Governments have also adopted NPS for their new employees. From 1 May 2009, NPS has been opened to all Indian citizens on a voluntary basis. This also includes those in the corporate sector. Atal Pension Yojana (APY) for unorganized sector workers was launched on 1 June 2015. As of 1 June 2024, the total subscribers of NPS and APY have exceeded 7.47 crores. In this, the total assets under management (AUM) has reached 12.14 lakh crores. The number of subscribers in the private sector including corporates has exceeded 56 lakhs, with an AUM of more than 2.27 lakh crores.

To increase awareness about NPS among corporates, PFRDA organized a round table meeting with Chief Human Resource Officers (CHROs) and Chief Finance Officers (CFOs) of 30 reputed corporates in Mumbai on June 7, 2024, supported by knowledge partner Deloitte India. The primary objective of these meetings was to engage with corporates and encourage them to adopt or increase the penetration of NPS by educating them about retirement planning, corporate NPS benefits, including tax incentives for employers and employees, and financial wellness. The initiative aims to take the benefits of the National Pension System to the formal private sector in sync with the Government’s broader objective of establishing a pensioned society by the year 2047.

At present 16,402 corporates have enrolled under NPS which has a total of 20.17 lakh subscribers across the country. In Maharashtra alone, 5,296 corporates have registered which have a total of 3.02 lakh subscribers. Out of these 3,456 corporates are based in Mumbai. Their total subscriber base is 0.71 lakh. The total subscriber base under NPS including individual and corporate in Maharashtra is 9.10 lakh which is about 16% of the total subscribers in the private sector.

The keynote speaker at the event was Shri Deepak Mohanty, Chairman, PFRDA. He emphasised on the important issues related to ageing society and increasing life expectancy. He emphasised that there is a great need for adequate pension coverage. Shri Mohanty further explained that relying on only one social security scheme is insufficient for building a strong retirement corpus. He elaborated on the efficiency, transparency and returns provided by the National Pension System (NPS). He also urged corporates to consider adopting NPS so as to provide a platform to employees to join NPS and also educate and motivate them to increase the rate of NPS in corporates.

Mr. Zubin Sekhri, CFO, Deloitte India also addressed the gathering and emphasized the importance of retirement planning. He encouraged the attendees to learn about the benefits of NPS. Other notable speakers included Mr. Sumit Kumar, Chief General Manager, PFRDA. He made a presentation on retirement benefits planning and the features and benefits of NPS. Ms. Behrooz Kamdin, Partner, Deloitte India, spoke about the tax benefits under NPS for both employers and employees. Mr. Amit Prakash, Head, Corporate Employee Welfare, Tata Consultancy Services Limited, gave important information from a corporate perspective regarding the extent of NPS benefits to employees and its implementation.

The session also had an interactive segment with corporate representatives to discuss the challenges in adopting and implementing NPS.

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