Future concerns in lockdown! 1.03 lakh new members associated with this pension scheme

NPS has registered a growth of 30 percent1.03 lakh new members in April-June quarter
People are worried about the future during the lockdown. This is the reason why 1.03 lakh new members have been added to the national pension system (NPS), the government’s flagship retirement saving plan in the April-June quarter. In this way NPS has registered a growth of 30 percent.

206 companies linked to NPS

According to information provided by the Finance Ministry, about 1.03 lakh individual shareholders and 206 companies were linked to NPS during this period. Of these, 43 thousand are connected through companies or their employers, while the rest are personally linked to the scheme.

With the addition of new members to the NPS, the number of corporate shareholders aged between 18 and 65 has increased to 10.13 lakh. Let us tell you that more than 68 lakh government employees are registered under NPS while 22.60 lakh are from private sector, of which 7,616 companies are registered.

Important to join the lockdown period

hese figures are also important because strict lockdown was in force in the country for about two months from March 25. During this period many people in the private sector were laid off, or salary was cut. Despite this, people have insisted on saving for the future. Pension Fund Regulatory and Development Authority (PFRDA) Chairman Supratim Bandopadhyay said that NPS is quite successful among corporate employees.

Bandopadhyay said, “Financial planning is always behind in a person’s life, but today it is at the forefront of the corona virus epidemic. Awareness about financial security has increased among the people for such difficult times.