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Business EconomyPosted at: Jun 24 2016 6:42PM


NPS to observe service fortnight from 27

New Delhi, Jun 24 (UNI) With a view to create awareness about the National Pension System (NPS) and improve subscriber interface, it has been decided to observe NPS Service Fortnight from June 27 to July 9, 2016 by all the entities, functionaries in the NPS value chain such as Points of Presence (POPs) and the Central Recordkeeping Agency (CRA) across the country.
This fortnight-long campaign is aimed at awareness creation, service orientation and information dissemination along with subscribers registration.
According to a finance ministry statement, the NPS was made available to persons in the private and unorganised sector since May 2009. Currently, the total number of subscribers under NPS and APY together has reached 12.86 million and AUM is more than 120,000 crore. There is tremendous potential in the private sector which needs to be tapped.
Sample surveys conducted by financial analyst and market intelligence agencies have revealed that the NPS is well-designed and least cost pension product with exclusive tax benefits in the market, marketed and distributed by Points of Presence (POPs) which are the interface between the subscribers and the NPS system entrusted with subscriber registration and servicing.
So far, 72 POPs (comprising of banks, non-bank financial companies and micro finance institutions) have registered over 55,500 branches/ POP service providers in the NPS system for subscribers interface. During the NPS fortnight the POPs are expected to activate and involve all their registered POP-SPs in subscriber acquisition and servicing.
UNI ADP SW SB 1842
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