NRIs urged to invest in pension scheme back home

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India’s National Pension System offers around 10% returns for subscribers

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India’s National Pension System (NPS) is an excellent retirement or long-term investment product with around 10 per cent returns for its subscribers, who are either based in India or abroad.

This was echoed by top government officials and bank executives during a one-day conference in Dubai on Saturday. They emphasised that the scheme is an easily accessible, low-cost, tax-efficient, flexible and portable retirement savings scheme for all Indian citizens.

Administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), the scheme is mandatory in India for government employees. Since May 2009, the NPS was extended to the private sector too.

Non-Resident Indians (NRIs) can also subscribe to this scheme. There are millions of NRIs working across the globe but NPS subscribers are in the hundreds only.

As of October 15, 2016, there were 13.7 million subscribers under the NPS and the Atal Pension Yojana (APY) schemes with a contribution of Rs1.2 trillion and with total assets under management of Rs1.53 trillion, according to the PFRDA.

 

 

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