Pension Sector Current Affairs, GK & News

PFRDA suggests comprehensive Scheme to the Finance Ministry

On May 17, 2020, the Pension Fund and Regulatory Authority (PFRDA) of India suggested comprehensive scheme to the Ministry of Finance. Under the scheme, the social security measures for the people with low income are to be explored. Highlights The PFRDA has suggested comprehensive pension scheme to take along Pradhan Mantri Jeevan Jyoti Bima Yojana, ..

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Credit Enhancement Fund: Government to launch Rs.500 crore fund

Union Government is going to launch Rs.500 crore Credit Enhancement Fund (CEF) in July 2018 to facilitate infrastructure investments by insurance and pension funds. The CEF provides additional source of assaurance or gaurantee that borrower will service their loan. It also helps borrower to raise loans at lower interest rates. The  fund was first announced ..

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Atal Pension Yojana subscriber base touches over 97 lakh: PFRDA

According to Pension Fund Regulatory and Development Authority (PFRDA), the subscriber base of Atal Pension Yojana (APY) stood at 97.05 lakh at end of 2017-18 fiscal. It was lower than target of 1 crore set by pension regulator PFRDA. The scheme saw addition of over 48.21 lakh subscribers in 2017-18. In 2016-17, total number of ..

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PFRDA-CRISIL Report: India Ageing Gradually with Every 5th Person to be in 60s by 2050

As per the PFRDA-CRISIL report titled, Financial security for India’s elderly – The imperatives, India will begin ageing gradually and transform from ‘young’ to a ‘greying’ with every 5th Indian to be in 60s in contrast to every 12th person at present. By 2050, persons above the age of 60 would increase from the present 8.9% of the population to 19.4 %.  Also, by 2050, ..

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NRIs can now join NPS online through eNPS

The Union Finance Ministry has announced that non-resident Indians (NRIs) can now open National Pension Savings (NPS) accounts online i.e. through eNPS if they have Aadhaar Card or Permanent Account Number (PAN) card. Earlier, NRIs could open NPS accounts only through paper based applications by approaching Bank offices.  NPS is being regulated by the PFRDA ..

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