New Pension System - Lok Sabha News

New Pension System

The below information was given by the  Minister of State in the Ministry of Finance Shri.Namo Narain Meena in a written reply to a question in Lok Sabha on 4th May 2012. 

The New Pension System (NPS) was extended to all citizens of India w.e.f. 01st May, 2009. 

A total of 21 Points of Presence (PoPs) were registered in the year 2009 with 844 branches of the PoPs acting as Points of Presence - Specified Points (PoP-SPs). As on date, the number of PoPs registered are 53 with 19463 branches of the PoPs acting as PoP-SPs.

As per the information furnished by PFRDA the six states i.e. Haryana, Karnataka, Andhra Pradesh, Jharkhand, Rajasthan and Madhya Pradesh have announced co-contributory schemes for specific occupational groups for the workers of unorganized sector. The quantum of contribution will be decided by States itself. 

Funds have been allocated to the interim Pension Fund Regulatory and Development Authority (PFRDA) based on the number of subscribers joining NPS-Lite scheme and demand for the same is indented by PFRDA to the Government. Further, the Union Cabinet has approved the additional funding support towards the Government`s co- contribution as well as developmental and promotional activities under the Swavalamban Scheme from three to five years. 


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