Need new methods to make UPS attractive, says PFRDA chief

The Pension Fund Regulatory and Development Authority (PFRDA) needs to bring in fresh measures to raise enrollments under the government's Unified Pension Scheme (UPS), chairman S. Ramann said at an industry event on Monday.

- Subhash Narayan

While the government has extended the deadline to 30 September from 30 June, the uptake under UPS remains modest compared to that for the Atal Pension Yojana (APY), which crossed 81 million subscribers.

As on 20 July, only 31,555 central government employees had opted to switch from the National Pension System (NPS) to UPS, the finance ministry said in Parliament.