About :

• Pension cum investment scheme
• Provide old age security to Citizens of India
• Brings an attractive long term saving avenue to effectively plan your retirement through safe and regulated market-based return.
• Regulated by Pension Fund Regulatory and Development Authority (PFRDA).
• National Pension System Trust (NPST) is the registered owner of all assets under NPS.

What is in news : The Pension Fund Regulatory and Development Authority (PFRDA) will be observing 1st October 2021 as the National Pension System Diwas (NPS Diwas) to promote pension and retirement planning for a carefree ‘azad’ retirement.

Aim : The pension regulator aims to encourage every citizen (working professionals and self-employed professionals) to plan towards creating a financial cushion to ensure for onself a financially sound future after retirement.

About PFRDA

• Regulatory body for overall supervision and regulation of pension in India
• Under – Ministry of Finance, Government of India
• The Pension Fund Regulatory & Development Authority Act was passed on 19 September 2013 and the same was notified on 1 February 2014.