Big news – Government is bringing new guaranteed pension scheme, know everything about it

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PFRDA is bringing Minimum Return Guarantee Pension Scheme for millions of pensioners. PFRDA will offer this scheme in the current financial year.



new Delhi. The chairman of the Pension Fund Regulatory and Development Authority, Supratim Bandopadhyay, said that the authority is preparing to introduce a pension scheme that guarantees minimum returns. He said that the Pension Authority is in talks with pension funds and actuarial firms in this regard. Based on this interaction, the proposed plan will be prepared. He said that under the PFRDA Act we are allowed to start a minimum assured return scheme.

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The plan will be presented in the current financial year
Under pension fund (PF) schemes, managed funds are marked-to-market. So there are obviously some ups and downs and valuations are based on market movements. Bandopadhyay said that there might be some people who would like minimum assured returns. Therefore, we are working with our pension fund managers and some actuarial firms to determine the ideal level of minimum guarantee that can be given.



Despite this, he said that the guarantee would be linked to the market as the fund managers would have to decide the guaranteed portion of the return on investment. Asked if PFRDA will offer this scheme in the current financial year, he said, we will try. This is a product that we are making ourselves.

Subscribers have to invest fixed amount every month, quarterly or every half year in NPS NPS and APY started for government employees . After this, the subscriber is given a fixed amount of pension every month after retirement. Any Indian citizen from 18 to 60 years can join NPS. It was introduced by the Central Government on 1 January 2004. This scheme is necessary for all government employees joining after this date.



Since 2009, the scheme has also been opened to those working in the private sector. Employees can withdraw a part of NPS after retirement. At the same time, after retirement from the remaining amount, you can take an annuity for regular income.

 

The post Big news – Government is bringing new guaranteed pension scheme, know everything about it appeared first on informalnewz.



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