Implementation of NPS

Implementation of NPS The New Pension System (NPS) has been implemented for various sectors like Central Government, State Government, Private Sector and NPS-Life. The status of NPS in these sectors as on 10th November, 2012 is as under:- Sector No. of Subscribers (Figures in lakhs) Assets under Management (Rs. In crores) Central Government 10.62 14,846 State Government 14.67 7,445 Private Sector 1.64 835 NPS-Life 13.05 344 Total 39.98 23,470 The number of subscribers is increasing every year in all the sectors. There is no proposal to increase the monthly contribution of subscribers by the Government. The Government provides matching contribution for the Central Government employees who are covered under the NPS scheme. In case of NPS Swavalamban accounts, Rs. 1000/- per annum is being contributed by the Government. NPS Trust consisting of professionals with expertise in the field of Investment and Asset Management has been constituted. The NPS Trust regularly monitors the performance of the Pension Funder Managers (PFMs) appointed by Pension Fund Regulatory & Development Authority (PFRDA). PFMs manage the investments of subscribers of NPS in conformity with the Investment Management guidelines prescribed by the NPS Trust. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today. Source:pib

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