Pension Fund Regulatory and Development Authority’s Post

Growth in #NationalPensionSystem (#NPS) and #AtalPensionYojana (#APY) #NPS assets have surged by 29% to ₹12.86 lakh crore as of August 10, driven by a robust performance in the private sector, which saw a 40% increase in assets. #APY assets reached ₹39,326 crore, marking a 31.65% year-on-year growth, with 1.2 crore new subscribers onboarded in the current fiscal year. The total subscriber base for #NPS and #APY stands at 7.66 crore, reflecting a 16.25% increase from the previous year, showcasing growing interest in pension plans. Strong performance in #equity markets has led to impressive average annual returns of 32.58% for pension funds, significantly outperforming traditional investment options. The Pension Fund Regulatory and Development Authority (#PFRDA) aims for #NPS assets to reach ₹15 lakh crore by March 2025, indicating ambitious growth plans ahead. #PensionFunds #InvestmentGrowth #FinancialSecurity #RetirementPlanning #EquityMarket #SubscriberGrowth #IndiaFinance

Welcome step to make India a pensioned society!! ➡️ The pension regulator “PFRDA” has now extended the APY (Atal Pension Yojana) to all Central Recordkeeping Agencies. 🎊 You will now have the option of KFin Technologies Ltd. to open and manage your APY account. 🎊 ➡️ To maintain a level playing field ↳ PFRDA has allowed Point of Presence (PoP) to choose a CRA of their choice for APY. ↳ APY subscribers can also opt for a CRA that is available with the PoP. 📌 So, what is APY? 📌 [1] APY is a guaranteed pension scheme sponsored by the Government of India. [2] APY is open to all citizens of India between the ages of 18 and 40 who have a savings account. [3] But, from 1st October 2022, any citizen who is or has been an income taxpayer will not be eligible to join APY. ▶️ How do you feel about this move by #PRFDA? Share your views in the comments!! ◀️ #Kfintech #APY #pension #npstrust

🚀 Unlocking Financial Security with Atal Pension Yojana (APY) 🚀 Did you know? Atal Pension Yojana (APY) is a game-changer for securing your future! 🌟 🔍 What is APY? It's a government-backed pension scheme designed to provide financial security to unorganized sector workers during their retirement years. 🔑 Why should you care? APY offers affordable contributions starting as low as ₹42/month! Yes, you read that right. For a small investment today, you can ensure a comfortable tomorrow. 💼 What's in it for you? Enjoy fixed pension amounts ranging from ₹1,000 to ₹5,000/month post-retirement, depending on your contribution level. Plus, it's backed by the Government, guaranteeing reliability and security. 📈 Join thousands of Indians already securing their golden years with APY. Don't miss out on this opportunity for financial stability! #AtalPensionYojana #APY #FinancialInclusion #RetirementPlanning #PensionScheme #India #GovernmentScheme #Savings #Security #FuturePlanning #PersonalFinance #Investment #SavingsGoals #WealthManagement #FinancialLiteracy #RetirementSavings #FutureFinancialPlanning #MoneyMatters #FiscalResponsibility #SecureFuture #FinancialWellness #EconomicEmpowerment #SmartSaving #BudgetingTips #FinancialEducation Government of India Official Government of India (GoI) Indian Ministry of Finance Press Information Bureau - India NITI Aayog NITI Aayog Official Reserve Bank of India (RBI) Pension Fund Regulatory and Development Authority (PFRDA) Rajasthan Marudhara Gramin Bank Vankal Agri Solutions Unique Identification Authority of India (UIDAI) Ministry of Labour & Employment, Governme Insurance Regulatory and Development Authority of India India Today The Economic Times LiveMint

Myths Around Your EPF Claims in India! Do you believe EPF interest rates are fixed or that withdrawals are only possible at retirement? Many myths surround PF claims, leading to confusion and delays. Kustodian.Life debunks these myths and helps you navigate a smooth withdrawal process!  ➡️ Swipe to learn more! ➡️ #PFMyths #EPFClaims #FinancialPlanning #KustodianLife #ProvidentFund #Myths #Claims #Finance

With the installation of a new government in 2024, India aims to accelerate its economic growth, projected at 8%, potentially reaching a milestone of $4 trillion. To sustain this trajectory, substantial investments are crucial to uplift living standards and increase income levels, particularly among disadvantaged populations. It was introduced in 2015 by the Modi government, as a social security scheme aimed at providing a regular pension to workers in the unorganized sector. So, Atal Pension Yojana (APY), offers a guaranteed 8% return to low-income individuals below the minimum wage threshold. This scheme mainly aims to provide a steady income after retirement for workers in the unorganized sector who may not have access to formal pension plans or other retirement benefits. Individuals between the ages of 18 and 40 are eligible to enroll in the APY scheme. Enrollment in this scheme requires individuals to link their Aadhar number with their savings account at their chosen bank or post office. Contribution amounts vary based on the desired monthly pension and the age of joining. The contributions are automatically deducted from the savings account every month. The pension starts after the individual reaches the age of 60 years. The amount of pension depends on the contributions made and ranges from Rs. 1000 to Rs. 5000 per month. Overall, the Atal Pension Yojana is designed to provide a pension to workers in the unorganized sector who may not have a regular income after retirement. It aims to promote a culture of saving for retirement among these workers by providing a guaranteed pension after the age of 60. By facilitating affordable and guaranteed pensions, APY aims to ensure financial security post-retirement for millions who previously lacked access to formal pension plans. Through its structured contribution framework and government co-contribution incentives, APY encourages a culture of saving while providing a safety net for elderly citizens, thereby fostering inclusive socio-economic development across the nation. #pensionfund #fund #GOI #APY

Indian Institute of Management, Lucknow and Pension Fund Regulatory and Development Authority (PFRDA) hosted a landmark symposium on creating an 'Atmanirbhar Pensioned Society' for a developed India. Key experts discussed enhancing pension coverage, financial literacy, and sustainable investments. This event marks a significant step towards ensuring old age income security and economic stability for all. #PensionReform #FinancialLiteracy #ViksitBharat #IIMLucknow #AtmanirbharBharat

*JEEVAN SHANTI* Jeevan Shanti is an #Annuity / Pension Plan which gives #guaranteed return for whole life at the rates offered to you at the time of purchase of the plan. It is not linked to market in any manner so rates will remain the same throughout life . After you, return of purchase price equivalent to 105 % of the Invested amount to the Nominee. 1.) LIC has further increased #interest rates in #Jeevan Shanti effective 7th Feb 2024 making it very lucrative plan.Under Jeevan Shanti, you can get rates from 6.91 % to 14.96 % return.* 2.) This offer is coming at a time when the whole world is talking of #cutting interest rates. 3.) You shall appreciate the #strength and commitment of an Organization offering the fixed rates #thought out your life. 4.)LIC is a #behemoth Organization with AUM of 46.11 Lakh crore as on 30th June 2023.That is the trust and faith people have in the company. 5.) We all understand the value of Pension. Moreover, the LIC plans carry #Sovereign Guarantee by Govt. of India. 6.) So, it is a double guarantee being a Pension Product and that too backed with Sovereign #Guarantee . You can reach me on 9350550101 or mail ravinder.m.kaushal@gmail.com #Pensionplan #Sovereignguarantee #interestrates #throughout

Our Inclusive Finance India Report 2023 is a comprehensive, well-sought one-stop, state-of-sector reference book presenting the advancements in the policy and implementation of financial inclusion in the country during the year. "Inclusive Insurance and Pensions: State of Progress in India", a chapter that focuses on the significant progress made in expanding insurance and pension coverage in India, especially for economically disadvantaged groups. Ramesh Arunachalam outlines the substantial growth of government initiatives like Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jan Arogya Yojana (PM-JAY), and Atal Pension Yojana (APY). These schemes have dramatically increased coverage, with PMJJBY now encompassing 144 million people. To read the full report visit our website - https://lnkd.in/gvykrZkV #financialinclusion #InclusiveFinance #MicroFinance #SmallFinanceBanks #Report23 #ACCESS Sudipto Saha Akash Shrivastava Satyan Kumar Vipin Sharma Ramesh Srivatsava Arunachalam

EPF was in news last week as the EPFO, the regulator for provident funds in India proposed to hike the interest rate for FY 2023-24 to 8.25 %. Let's see the different provident fund options available in India. 1. EPF (Employees' Provident Fund) EPF is a retirement savings scheme for salaried employees in India. Both employees and employers contribute a portion of the employee's salary to the EPF account. The contributions accumulate over time forming a retirement corpus for the employee. The interest rate for FY 2022-23 is 8.15%. This rate is revised annually. 2. VPF ( Voluntary Provident Fund) VPF is an extension of EPF where employees can voluntarily contribute more than the mandatory EPF contribution. VPF enjoys the same interest rate and tax benefits of EPF. It allows employees to boost their retirement savings beyond the mandatory EPF contribution. 3. PPF (Public Provident Fund) PPF is a long term savings scheme open to all individuals including employed and self employed. It can even be started for a minor, jointly with a parent. It is operated by the government. Contributions to PPF are eligible for tax deduction under Sec 80C under old tax regime. PPF accounts have a fixed maturity period of 15 years, which can be extended further. The interest rate for Q4 FY 2023_24 is 7.1%. This rate is revised every quarter. To cut the long story short😉 1️⃣ EPF is for salaried employees with mandatory contributions 2️⃣ VPF allows voluntary contributions to EPF with same benefits 3️⃣ PPF is a government operated savings scheme open to everyone with tax benefits. If you are interested in coaching on Basics of Savings pls email to monieplant.info@gmail.com #personalfinance #financecoach #financegoals #financeforbeginners #financeforwomen #mutualfunds

📢 Important Update: Old Pension? 4.5 Times Costlier Than New! Switching from the National Pension System (NPS) to the old pension scheme (OPS) by all state governments could lead to a 4.5 times increase in their fiscal burden, equivalent to an additional 0.9% of GDP annually by 2060, according to the Reserve Bank of India's estimates. #fundsutra #RBI #pensionsystem #stategovernment #nationalpensionsystem #oldpensionsystem #financialnews #finance #newsupdate #indianews #indianewsupdate #businesnews #financialanalysis #stockmarket #financialfreedom #news #money #business #investment #trading #india #financialliteracy #pune #pcmc #aurangabad #mumbai #thane #nashik #ahmedabad #bangalore #hyderabad