Nagaraju Madirala, Secretary, Department of Financial Services (DFS), Ministry of Finance, also emphasized the advocacy by the newly formed Association of NPS Intermediaries (ANI) which was formally launched in the financial capital.
Pension Fund Regulatory and Development Authority (PFRDA) Chairperson Dr. Deepak Mohanty said that the launch of the association is an important milestone for the pension sector.
“I am confident that this will further strengthen and redouble our efforts in creating awareness to increase pension coverage in India through collective efforts and feedback mechanisms. The association will lead the charge, with its members and regulators. With guidance, to become the global standard for financial security,” he told the gathering.
The initiative brought together key stakeholders of the National Pension System (NPS) ecosystem to promote collaboration, strengthen consumer welfare, and serve as an important retirement planning tool for citizens of India. But the continuous growth of NPS can be promoted.
With assets under management (AUM) exceeding Rs 13.8 lakh crore, both Atal Pension Yojana (APY) and NPS, with a total subscriber base of 8 crore, are the most efficient, tax-advantaged. has emerged as a healthy, and low-cost retirement. Solutions available today.
Mohanty added, “This remarkable development indicates the growing acceptance of pension schemes and their important role in securing the future of India’s working population.
The main objectives of the association are to promote NPS as a reliable, flexible and tax-efficient retirement product and focus on consumer welfare by ensuring smooth and transparent processes within the system.