Press Information Bureau

Government of India

Ministry of Finance

23-November-2012 16:57 IST

The New Pension System (NPS) has been implemented for various sectors like Central Government, State Government, Private Sector and NPS-Life.  The status of NPS in these sectors as on 10^th November, 2012 is as under:-

The number of subscribers is increasing every year in all the sectors.

There is no proposal to increase the monthly contribution of subscribers by the Government.  The Government provides matching contribution for the Central Government employees who are covered under the NPS scheme.  In case of NPS Swavalamban accounts, Rs. 1000/- per annum is being contributed by the Government.

NPS Trust consisting of professionals with expertise in the field of Investment and Asset Management has been constituted.  The NPS Trust regularly monitors the performance of the Pension Funder Managers (PFMs) appointed by Pension Fund Regulatory & Development Authority (PFRDA).  PFMs manage the investments of subscribers of NPS in conformity with the Investment Management guidelines prescribed by the NPS Trust.

This information was given by the Minister of State for Finance, Shri   Namo Narain   Meena in written reply to a question in Lok  Sabha today.

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DSM/RS/bs

New Pension System governance: trust oversight and mandatory investment management compliance for pension fund managers. The New Pension System is implemented across multiple sectors with reported subscriber numbers and assets; the Government maintains existing subscriber contribution levels while providing matching contributions for central employees and a fixed annual contribution for Swavalamban accounts. An NPS Trust oversees and monitors Pension Fund Managers appointed by the regulatory authority, requiring PFMs to manage subscriber investments according to the Trust's investment management guidelines.