Monday, October 25, 2021
HomeFinanceNPS Pension-related good news is on the way! Now that you have...

NPS Pension-related good news is on the way! Now that you have a ‘guaranteed return’ under NPS, you should know how to prepare

PFRDA has begun the process of appointing experts to help make the NPS Assured Return Scheme a reality. This scheme’s design will be prepared by these consultants.

NPS Assured Return Scheme, New Delhi: There are plans in the works to provide a really good scheme for the country’s tens of thousands of retirees. PFRDA, the pension regulator, is set to introduce the Minimum Assured Return Scheme (MARS) as part of the National Pension System (NPS).

A consultant will be appointed by the PFRDA

The Pension Fund Regulatory and Development Authority (PFRDA) has issued a Request for Proposal (RFP) to the consultants who would develop this system. Remember that PFRDA Chairman Supratim Das was questioned about the program last year. ‘Negotiations are going on with pension funds and actuarial firms in this regard,’ Bandyopadhyay added. The plan will be developed based on this interaction. The PFRDA Act allows for a minimum assured return scheme. Mark-to-market funds are those that are managed by pension fund plans. Clearly, there are some highs and lows to this. Their worth is determined by the current state of the market.

Read More: Horoscope, 13 August 2021: Friday will bring a lot of happiness, just be careful with these 2 zodiac signs

Consultants will be in charge of this

The engagement of a consultant should not create a principal-agent relationship between the PFRDA and the service provider for creating a scheme with guaranteed returns under NPS, according to the PFRDA’s RFP draught. According to the PFRDA Act, a subscriber who chooses an NPS program that provides a ‘Minimum Assured Return’ must do so through a pension fund that is registered with the regulator. In this way, the Pension Fund’s advisors collaborate to create a ‘Minimum Assured Return’ scheme for current and potential subscribers.

A strategy like this has yet to be devised

PFRDA has put a lot of effort into developing and improving the National Pension Scheme (NPS) and the Atal Pension Yojana (APY), but they are all government-run programs. PFRDA’s next scheme will be the agency’s first serious initiative. This will also be unique because the PFRDA has never implemented a guaranteed scheme before. According to the PFRDA, this pension scheme’s guarantee will be market-linked. The guaranteed portion of the return on investment will be decided by fund managers.

Let us remind you that on January 1, 2004, the Central Government made NPS mandatory for all of its workers. Following this, all states implemented NPS for their personnel. After 2009, this scheme was also made available to private-sector employees. Employees can withdraw a portion of their NPS after retirement, while the balance can take an annuity for regular income. The National Pension Scheme is open to anyone between the ages of 18 and 60.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

5000 MG Astor booked in minutes, 2021 Stocks are out, Delivery will start soon

MG Motor India started the pre-booking of its mid-size SUV MG Astor on Thursday. Its 5000 units were booked in just a few minutes...

इस दिवाली घर ले आएं शानदार SUV कार, ये हैं 5 बेस्ट ऑप्शन; कीमत 6 लाख से भी कम

Best SUV Under 6 Lakh: इस फेस्टिवल सीजन पर आप भी नई कार लेने का प्लान बना रहे हैं, तो ये खबर आपके लिए...

Mallika Sherawat shares Amazing pictures, People got shocked

Beautiful pictures of Bollywood actress Mallika Sherawat are becoming increasingly viral. People have got to see such a form of the actress after a...

PhonePe Big news! Charges increased for UPI Payment, know why

Digital payment app, PhonePe has recently announced that it will now charge a special processing fee on its UPI and credit card transactions. Testing...

Interest from the PF has arrived in the account! Money may be withdrawn in less than an hour, and you can check your balance...

EPFO Latest News: EPFO is distributing interest money to employees' accounts before Diwali. If you wish to withdraw PF money around Diwali, we'll show you...

Subscribe

* indicates required