Monday, July 14, 2025
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PFRDA: Excellent News for Seniors! According to the government’s plan, “Guaranteed return” will be offered under NPS.

NPS Guaranteed Return Program: For the nation’s tens of thousands of pensioners, there is good news. Actually, the Minimum Assured Return Scheme (MARS) under the National Pension System would be developed by the pension regulator PFRDA (NPS). Benefits will be provided to this program’s retirees. Tell us about this unique government initiative.

PFRDA will hire a consultant.

The Request for Proposal (RFP) for consultants to design the program has been opened to proposals by the Pension Fund Regulatory and Development Authority (PFRDA). Supratim Bandyopadhyay, president of the PFRDA, had earlier stated that “talks with pension funds and actuarial firms in this regard are ongoing.”

The PFRDA Act permits a minimum assured return program. The funds being managed by pension fund plans are up and down and marked to market. Their estimation is based on the state of the market.

Are you aware of the consultant’s plans?

According to the PFRDA’s draught RFP, the hiring of a consultant should not result in a principal-agent arrangement between the PFRDA and the service provider for the creation of an NPS scheme with guaranteed returns. According to the PFRDA Act’s guidelines, a pension fund that has registered with the regulator must offer an NPS plan that offers a “Minimum Assured Return” to a subscriber. As a result, the advisors will need to create a “Minimum Assured Return” plan for the Pension Fund’s current and future subscribers.

understanding NPS

On January 1st, 2004, the Central Government began requiring all of its employees to participate in NPS. Following this, NPS was implemented for employees in all states. After 2009, personals who worked in the business sector were also allowed to participate in this program. Employees can take some of their NPS after retirement, while the balance can purchase an annuity to get a regular income. Anyone between the ages of 18 and 70 may enroll in the National Pension Scheme.

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