NPS to soon offer guaranteed return scheme and systematic withdrawal plan: Deepak Mohanty, chairman, PFRDA

National Pension System (NPS): The National Pension System (NPS) will soon introduce a systematic withdrawal plan (SWP), under which NPS subscribers can defer annuity till the age of 75 years, Deepak Mohanty, chairman of Pension Fund Regulatory and Development Authority (PFRDA), said in an exclusive chat with Zee Business on Friday. Apart from this, he informed that the pension regulatory body is also applying finishing touches to a guaranteed return scheme.

Talking about it, he said, "We are working on the technical aspects of the guaranteed return plan. And we will be keeping both the return and the risk in mind before bringing such a scheme." 

Talking about the time-frame for the launch, he said that the guaranteed return scheme could likely be announced by October this year.

He informed that last year over 10 lakh private sector employees joined the NPS and the target this year is to add another 13 lakh subscribers.

He further added that NPS will be getting another fund manager soon.

NPS में भी गारंटीड रिटर्न शुरू करने की योजना: दीपक मोहंती, चेयरमैन, PFRDA

देखिए दीपक मोहंती से Zee Business की खास बातचीत @Ektaexplores @ChairmanPFRDA #GuaranteedReturn #NationalPensionSystem pic.twitter.com/mtPNuwRvmo

— Zee Business (@ZeeBusiness) July 7, 2023

What is National Pension System?

The National Pension System (NPS) is a voluntary, long-term retirement savings scheme designed to enable systematic savings. It is a pension contribution structure that involves allocating investments in equity and debt, and it's regulated by the Pension Fund Regulatory and Development Authority (PFRDA) in India. 

Also Read - National Pension System: Tax benefits and all you need to know about NPS