PFRDA (Pension Fund Regulatory and Development Authority) which launched the New Pension Scheme (NPS) has opened the door for many govt and private sector employees to secure their future through a single united scheme. To reach out to the common man PFRDA has opened many PoPs or Point of presence which are outlets to deal with NPS Scheme. SIB or the South Indian Bank has become the largest service provider in this category among 21 competing banks in India like SBI, ICICI etc.
SIB has altogether about 105 branches which are dedicated as PoPs. PFRDA has now plans to bring out low cost pension schemes which can reach to the millions of poor residing in India.
This low cost pension plan will be launched from April 1st 2010. So as to reach every nook of the country PFRDA has also proposed to provide incentive schemes for the PoPs or the service providers.
In doing so PFRDA can reach many people across the country in less amount of time. PFRDA is also in discussions to provide NPS (New Pension Scheme ) through the postal services. NPS scheme allows investors to invest in equities , govt bonds etc.
For complete details on NPS (New Pension Scheme) click the link below
For FAQ's on NPS (New Pension Scheme) Click the Link Below
For all charges related to NPS (New Pension Scheme) Click the link Below
To see how NPS (New Pension Scheme) better than Investing in Insurance and Mutual Fund kindly click the link Below
why only insurance companies are authorised to give pension. govt should allow subscribers to invest in bank fds and get interest as per their choice. this amt should be such that subscriber will noy be able to withdraw but can renew from time to time to get maximum advantage of bank rate on fds to maximise his returns.