Monday, June 27, 2022

Now ‘guaranteed return’ will be available under NPS, people will get benefit from this new plan of the government

NPS Assured Return Scheme: Pension regulator Pension Fund Regulatory and Development Authority (PFRDA) is all set to bring the Minimum Assured Return Scheme (MARS) under the National Pension System (NPS). This is excellent news for lakhs of pensioners of the country. (PFRDA) has issued a Request for Proposal (RFP) for consultants to design the scheme. Let us know about this in detail.

PFRDA will appoint consultants:

The Pension Fund Regulatory and Development Authority (PFRDA) has invited suggestions for consultants to design the scheme. At the same time, PFRDA President Supratim Das Bandyopadhyay said that talks are going on with pension funds and actuarial firms.

As per the PFRDA Act, A is allowed to start the scheme of Minimum Assured Return. The funds managed under pension fund schemes are mark-to-market and have some volatility. Their valuation is based on market conditions.

Read More: PFRDA: Exciting pension news! Under the NPS, a ‘guaranteed return’ will be accessible; learn about the government’s strategy.

What will the consultant do?

As per the RFP draft of PFRDA, a consultant will be appointed to prepare the scheme with guaranteed returns under NPS. There should not be a principal-agent relationship between the PFRDA and the service provider.

Under the NPS, people opt for a scheme that gives a ‘minimum assured return’ as per the guidelines of the PFRDA Act. Such a scheme would have to be offered by a pension fund registered with the regulator. At the same time, the job of the advisors will be to prepare a ‘Minimum Assured Return’ scheme for the existing and potential clients of the pension fund.

Know what is NPS?

Let us tell you that the Central Government had implemented NPS for the employees from January 1, 2004. After this all other states implemented NPS. At the same time, after 2009, the private sector was also included in this scheme.

After retirement, employees can withdraw a portion of NPS, while the remaining amount can be taken as an annuity for regular income. Any person in the age group of 18 to 60 years can take the National Pension Scheme.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

Nexon, Venue, XUV300 and Brezza’s ‘enemy’ this car did amazing in two years!

Kia Sonnet: According to Kia, 25% of buyers prefer the IMT-equipped version of the Sonnet. The company launched it in September 2020. Kia Sonnet crosses...

2022 Maruti Brezza Booking: Booking of new 2022 Maruti Brezza starts, teaser reveals sunroof, know more what will be special

2022 Maruti Brezza Booking Start: The new 2022 Maruti Brezza will get the next generation hybrid K-series engine along with the updated Ertiga. It...

Invest in these savings schemes, you will get more interest from the bank; check here

Post Office Scheme: The interest rate in this post office scheme is still higher as compared to bank FD. We are telling you about...

If these 2 vehicles come in front, then the challan of 10 thousand rupees will be deducted! Know how to avoid before going out...

Challan for not giving way to emergency vehicles: As per the existing traffic rules, it is necessary for any driver to give way to...

Umang App: Do all government work from home by mobile, learn how to use

Benefits of UMANG App: UMANG App is an all-in-one app launched by the government through which you can avail of various government schemes ranging...

Most Popular

Subscribe

* indicates required