Pension Fund Regulatory and Development Authority
Date: 22nd April, 2022
PFRDA releases Working Paper
PFRDA today released a Working Paper entitled Perspectives on the Pension-Sector in India by Dr. Deepak Mohanty, Member.
The paper observes that India’s pension-sector (NPS plus APY), provides a flexible mode of old age income-security not only for salaried employees but also to the common person. In the recent 5-years, 2017-18 to 2021-22, subscriber numbers have multiplied over three-fold led by APY; and assets under management by over four-fold led by NPS. The annual rates of return in various NPS schemes since inception in the range 9.0-12.7 percent and for APY at 9.4 percent have been very competitive vis-à-vis alternate saving instruments besides the primary benefit of steady income. The future expansion in NPS is expected to emanate from the private sector – both the salaried and self-employed. Steps at enhanced pension-literacy, both of the subscribers and the intermediaries, coupled with a nudge from the regulator and the Government along with encouragement to youngadults to join a pension scheme early would accelerate our movement towards a pension-society.
The views expressed in these papers are those of the author(s) and not necessarily of the PFRDA.
The working paper is available at PFRDA website under the link as