PFRDA Begins Pension Awareness Campaign, To Observe NPS Diwas On October 1

New Delhi: Pension regulator PFRDA has kickstarted a campaign under 'Azadi Ka Amrit Mahotsav' to promote pension and retirement planning. The pension regulator on Thursday said it will observe October 1, 2021 as the National Pension System (NPS) Diwas for a carefree 'azad' retirement.

The Pension Fund Regulatory and Development Authority is promoting the campaign across its social media platforms.

The Finance Ministry in a release said, "The pension regulator aims to encourage every citizen to plan towards creating a financial cushion to ensure for oneself a financially sound future after retirement."

The Ministry added that NPS subscribers will enjoy the benefits, power of compounding now and reap many of the benefits after retirement.

PFRDA Chairperson Supratim Bandyopadhyay said: “Through this campaign, we want to create awareness about pension planning among the public. As a regulatory body, our foremost aim is to cover all eligible citizens under a pension scheme to fulfil the vision of a pensioned society for India."

The PFRDA is the regulator of National Pension System and ensures orderly growth and development of the pension market.

PFRDA is the regulator of NPS and ensures orderly growth and development of the pension market.

Last week, the pension regulator had said that its subscriber base under pension schemes rose by 24% in August, 2021 to over 4.53 crore. The PFRDA administers two pension schemes -- National Pension System and Atal Pension Yojana (APY).

NPS caters to the organised sector, for instance central and state government employees, autonomous bodies and private corporations. While Atal Pension Yojana targets the workers in the unorganised sector.