NPS: Subscribers, Annual Return, Guidelines & Salient Feature – Rajya Sabha Q&A

NPS: Subscribers, Annual Return, Guidelines & Salient Feature – Rajya Sabha Q&A

GOVERNMENT OF INDIA
MINISTRY OF  FINANCE
RAJYA SABHA

UNSTARRED QUESTION NO-192

ANSWERED ON-06.08.2013

Subscribers of NPS

192. SHRI NAND KUMAR SAI

Will the Minister of FINANCE be pleased to state:

(a) the number of subscribers of National Pension Scheme (NPS) in the country alongwith the accumulated corpus contribution at the end of Financial Year 2012-13;
(b) whether the Pension Fund Regulatory and Development Authority (PFRDA) has revised the guidelines for registration of Pension Fund Managers in the country;
(c) if so, the details thereof and the salient features of said guidelines;
(d)    the details of returns on NPS Scheme before and after revision of such guidelines from various sectors; and
e)    the details of the steps taken by Government to make NPS as the highest returns generating scheme in the country?

ANSWER

The Minister of State in the Ministry of Finance (SHRI NAMO NARAIN MEENA)

(a) The total number of subscribers of New Pension System (NPS) at the end of Financial Year 2012-13, is 47,70,507 and the total corpus is Rs. 29,852.05 Crore.

(b) & (c) Yes, Sir. The Pension Fund Regulatory and Development Authority (PFRDA) has issued the “PFRDA (Registration of Pension Funds for Private Sector) Guidelines – 2012” on 12th July, 2012. The guidelines provide for registration of PFMs based on “fit and proper” criteria and subject to the maximum investment management fee prescribed by PFRDA.

d) As per the information provided by PFRDA, the annual returns on NPS Schemes as on 31-03-2012 and 31-03-2013 are as under :-

e) Number of measures to maximise returns while addressing risk related issues under NPS for the subscribers are in place. These include prudential investment norms and close monitoring of the investment returns of the PFMs.

Source: Rajya Sabha