PFRDA Facilitates the NPS Distribution Channels for their efforts towards subscriber enrolment

In an event hosted by PFRDA at IHC, New Delhi the pension regulator reviewed the strategies of Point of Presence (POPs) i.e. NPS distribution channels for FY 2024-25 for the expansion, comprehensive coverage and distribution of NPS. Further, the achievers of the previous year’s performance for FY 2023-24 were also felicitated during the program.

The meeting was chaired by Dr. Deepak Mohanty, Chairman, PFRDA. He appreciated the efforts of POPs comprising Banks, NBFCs, Stockbroking firms, FinTech companies and Pension funds. He further applauded their efforts in participation in the various campaigns for subscriber enrolments initiated by PFRDA during the second half of the financial year.

During the FY 2023-24 the total enrolments under NPS stood at 9,40,474, approx. 63% of the enrolments in the voluntary segment (UoS- All Citizen) was sourced through the extensive efforts of the POPs. Also, the enrolments in the UoS have seen a jump of 8.5% over the previous FY. Further, during the year 3112 corporates got registered under the NPS Corporate model, which has been the highest number so far.

During the strategy review meeting with the distribution channel, various approaches envisaged and carried out by the POPs to ensure wide pension coverage were also discussed. The meeting was attended by the senior officers of PFRDA and the members of the POPs.