He said that something will come soon about this. He told that the number of subscribers of Atal Pension Yojana ( APY ) has reached around 5.3 crore. A target of 1.3 crore has been kept for enrollment this year. Last year the enrollment was 1.2 crore. PFRDA is the regulator of the New Pension Scheme ( NPS ). NPS was launched by the government on January 1, 2004. This new scheme of pension is available to all including government and non-govt.

Working on minimum assured return

Mohanty said that the work on minimum assured return is going on. He said, “We have to balance the risk and the return… If someone gives assurance, then he has to pay the cost. For the assured return, the pension fund will have to arrange more capital, because it will increase the risk. We offer such products. We are considering it. We have also made some progress in this direction. We will bring this product and also we have to see that its returns should be attractive.

The return of Atal Pension Scheme is 9 percent.

Atal Pension Yojana has generated 9% return. The government has assured to arrange the funding gap of this scheme. Regarding the committee constituted under the leadership of the Finance Secretary to review the pension system of government employees, he said that it is too early to say anything about it. Mohanty is a member of this committee. This committee will recommend measures to improve pension related benefits of government employees under NPS.

The committee is reviewing the pension scheme

This committee was set up after the demand of the employees to implement the old pension scheme again in place of the new pension scheme (NPS) in many states. Some non-BJP ruled states have announced the re-implementation of the DA-linked old pension scheme. After this, its demand has increased in some other states as well. However, before taking any decision in this regard, the government will have to consider its impact on the budget.

No provision to return NPS Corpus

On the demand of the states to return the NPS corpus, Mohanty said that there is no provision in the law to return the pension amount, as this money belongs to the contributors. The central government had said in March that there is no provision in the PFRDA Act for refund of NPS corpus. Actually this demand has been made on behalf of five non-BJP ruled states. He has said that since he wants to re-implement the old system of pension, then this money should be returned to him.

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Pensioners of this scheme will get benefits. Let us know about this special scheme of the government. Under this program, preparations are being made to bring Minimum Assured Return Scheme, which will benefit crores of investors of the country. It can be launched in the National Pension System (NPS) only by the end of this month.

When can the scheme start?

PFRDA chairperson Supratim Bandyopadhyay said, “Right now we are working on the minimum guarantee return scheme. He said that PFRDA understands the impact of inflation and depreciation of rupee on its investors and gives returns accordingly. At present, work is underway on a minimum return scheme in NPS, which will enable investors to get a huge amount. This plan can be launched by the end of this month. Actually, earlier it was planned to launch it by 30 September.

How much return have you got so far?

Supratim Bandopadhyay has informed that in the last 13 years, the National Pension Scheme has given investors returns at the rate of more than 10.27% annually. In fact, to provide relief from rising inflation, efforts are being made to ensure that investors get strong returns under NPS. With the advent of the Guarantee Return Scheme, crores of people of the country will benefit and the number of people applying for the National Pension will also increase rapidly.

Subscribers will become 20 lakhs

Now let’s talk about returns, then the chairperson of PFRDA said that the size of pension assets is Rs 35 lakh crore, out of which 22 percent i.e. total Rs 7.72 lakh crore is with NPS and 40 percent is with EPFO ​​(Employees Provident Fund Organization). The maximum age of joining has now been increased to 70 years, due to which the number of subscribers has increased a lot. Now the total number of subscribers has increased from 3.41 lakhs to 9.76 lakhs.

Know what is NPS?

The Central Government had compulsorily implemented NPS for its employees on 1 January 2004. After this all the states adopted NPS for their employees. After the year 2009, this scheme was also opened to those working in the private sector. After retirement, employees can withdraw a part of NPS, while the rest can take annuity for regular income. Anyone in the age group of 18 to 70 years can take the National Pension Scheme.

The post Good News for Pensioners! ‘Guaranteed return’ will be available under NPS, know the new plan of the government first appeared on Rightsofemployees.com.