PFRDA targets threefold rise in pvt-sector NPS subscribers

Aim is to increase number to 250 mn in 5 years: Chairman

- PRASANTA SAHU & SAIKAT NEOGI

THE PENSION FUND Regulatory and Development Authority (PFRDA) has set an ambitious target to more than triple the National Pension System (NPS) subscriber base in the private sector from 80 million now to 250 million in five years, its chairman Sivasubramanian Ramann said on Monday. This, he said, will be enabled with a slew of reforms to be undertaken over the next month that will maximise benefits and relax the exit norms for non-government subscribers. Ramann told FE that PFRDA is working out revised investment norms for subscribers from the private sector, giving them leeway to invest in commodities like gold and silver that are seen as good hedges against inflation.

IN THE REVISED investment guidelines to be rolled out in November,PFRDA may also permit fund managers to invest a portion of NPS funds in the shares of companies other than the top 200 listed companies permitted now, he said.