NPS is digitally available, portable and flexible product earning inflation beating returns. : PFRDA at PHDCCI

PHDCCI, under the aegis of its Banking, Financial Services and Insurance (BFSI) Committee and in collaboration with Pension Fund Regulatory and Development Authority (PFRDA) organized an Interactive session on National Pension System (NPS): Importance of Retirement Planning on 6th December, 2024 from 3.00 pm – 5.00 pm at PHD House, New Delhi.

The awareness programme underscored the pivotal role of retirement planning and aimed to encourage corporate entities and individuals to adopt NPS for long-term financial security.

Present on this occasion were senior officials of PFRDA including Ms. Mamta Shankar, Whole Time Member, PFRDA; Mr. Shachindra Nath, Chair, BFSI Committee, PHDCCI & Vice Chairman and Managing Director of UGRO Capital; Mr. Sumit Kumar, Chief General Manager, PFRDA; Mr. Sanil Nair, Director-Commercial, Mercer Consulting (India) Private Limited; Mr. Sumit Mohindra, CEO, ICICI Pension Management Co. Ltd.; Ms. Babeeta Sharma, Senior Secretary & HOD- BFSI Committee, PHDCCI and Mr. Sanjay Ahuja, Joint Secretary, PHDCCI.

During her keynote address, Ms. Mamta Shankar, Whole Time Member, PFRDA stated the urgent need for adequate retirement planning in India, particularly considering the challenges posed by an aging population and changing social dynamics.

She added that PFRDA has recently introduced NPS-Vatsalya, extending the benefits of NPS to minors and also mentioned that NPS is very cost effective and one of the cheapest pension products in the world.

She highlighted that NPS is digitally available, portable and flexible product earning inflation beating returns.

Mr. Shachindra Nath, Chair, BFSI Committee, PHDCCI & Vice Chairman and Managing Director of UGRO Capital said that retirement planning is very important for every individual. He emphasised that younger and future generations of India should contribute to the NPS for a better savings that will equally contribute to the growth capital as well as debt capital of the country.

The event featured notable discussions on the benefits of the NPS retirement scheme, led by Mr. Sumit Kumar, Chief General Manager, PFRDA. Mr. Sanil Nair, Director-Commercial, Mercer Consulting (India) Private Limited, shared insights on Importance of Financial/Retirement Planning, highlighting Global trends and India pension landscape. Additionally, Mr. Sumit Mohindra, CEO, ICICI Pension Management Co. Ltd., elaborated on the process of corporate onboarding under NPS and its advantages for corporates and its employees.

Attendees were able to engage directly with industry leaders and experts. This programme was a part of PFRDA’s ongoing efforts to enhance corporate participation in NPS and extend its benefits to a broader audience. Corporate entities, SMEs, and professionals were invited to join this interactive session and explore the vast opportunities offered by NPS for both employers and employees.

Ms. Babeeta Sharma, Senior Secretary & HOD- BFSI Committee, PHDCCI moderated the session and gave formal vote of thanks for the programme.