Pension Update: Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty said on Wednesday that the regulator is working on a pension scheme offering minimum assured returns and an announcement will be made soon.
Pension News Update: Good news has come for lakhs of pensioners. Now a big preparation is being done by the government regarding the pension. Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty said on Wednesday that the regulator is working on a pension scheme offering minimum assured returns and an announcement will be made soon.
Atal Pension Yojana has 5.3 crore subscribers
Along with this, Mohanty said that there are about 5.3 crore subscribers of Atal Pension Yojana. The target of APY enrollment for this year is 1.3 crore, while in 2022 there were 1.2 crore enrollments.
Government gives assurance
He has said that a lot of work is going on. There we have to strike a balance between risk and return. Somebody gives assurance and it has a price. Like in APY..the government gives the assurance and the customer pays the price. He said that in case of assured returns, the pension fund will have to provide more capital as it carries more risk.
Government is considering
He has said that we are considering this possibility. We have also made some progress. We will come up with such a product and also see that the returns should be attractive. With regard to Atal Pension Yojana, he said that the target of PFRDA is to increase the customers under the scheme and the Regional Rural Bank is making good progress in this regard.
Pension system reviewed
Asked about the progress of the committee headed by the finance secretary to review the pension system for government employees, Mohanty said it was too early to comment on it. Mohanty is a member of this committee.
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