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The pension reforms set into motion by the "OASIS" Committee Report culminated into implementation of the National Pension System (NPS). NPS was initiated with the GOI issuing a directive which made NPS mandatory for all individuals joining Central Government services (except Armed Forces) on or after January 1, 2004.

In May 2009, NPS was made available to All Citizens of India which was further extended to the Corporate Sector in December 2011. In order to cater to the economically underprivileged sections of the society, a simple version of NPS i.e. NPS-Lite was created to operationalise the Swavalamban Yojana.

To operationalise NPS in India, PFRDA created an unbundled structure bringing the intermediaries like Central Recordkeeping Agency (CRA), Pension Fund Managers (PFMs), Trustee Bank (TB), Custodian etc. under one umbrella which eventually helped NPS to evolve significantly and it is now a widely acceptable investment avenue for retirement benefits as compared to other similar products available.


Incentives in terms of Tax benefit given by Government of India and various features added during the years by the Regulatory (PFRDA) has established NPS as the first choice for retirement benefit not only for individuals but for Corporate employees as well. NPS is now present in every strata of the Society. In India, there is a huge potential for pension market growth in the coming years.

Speakers

  • Supratim Bandyopadhyay (Chairperson at Pension Fund Regulatory and Development Authority (PFRDA))

    Supratim Bandyopadhyay

    Chairperson at Pension Fund Regulatory and Development Authority (PFRDA)

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  • Atanu Sen (Chairman ICC BFSI Committee  & Immediate Past Chairperson NPS Trust, PFRDA)

    Atanu Sen

    Chairman ICC BFSI Committee & Immediate Past Chairperson NPS Trust, PFRDA

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  • Amit Sinha (Group Head - Social Security and Welfare at Protean eGov Technologies Ltd)

    Amit Sinha

    Group Head - Social Security and Welfare at Protean eGov Technologies Ltd

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  • Sriram Iyer (HDFC Pension Management Company Ltd)

    Sriram Iyer

    HDFC Pension Management Company Ltd

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  • Raghupal Singh (MD & CEO of LIC Pension Fund Limited)

    Raghupal Singh

    MD & CEO of LIC Pension Fund Limited

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  • Ranbheer Dhariwal (CEO of Max Life Pension Fund Management Limited)

    Ranbheer Dhariwal

    CEO of Max Life Pension Fund Management Limited

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  • Sumit Mohindra (CEO of ICICI Prudential Pension Funds Management Company Limited)

    Sumit Mohindra

    CEO of ICICI Prudential Pension Funds Management Company Limited

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  • Kurian Jose (CEO and MD of Tata Pension Management Limited)

    Kurian Jose

    CEO and MD of Tata Pension Management Limited

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