PF Body to Launch Online Facility to Open NPS Accounts

Press Trust of India | Mumbai: Pension fund regulator PFRDA is set to launch an online facility for opening of accounts under the National Pension System (NPS) to net in prospective customers.

"We are set to launch the online on-boarding facility for the prospective customers of pension schemes under the NPS," PFRDA chairman Hemant Contractor told reporters on the sidelines of an insurance summit organised by the industry lobby CII.

"We have also urged the government to offer tax-breaks to pension schemes falling on the lines of other financial products like mutual funds and insurance, to popularise pension products in the unorganised sector," he said.

The Pension Funds Regulatory and Development Authority (PFRDA has sought clarification from the government if the pension products being run by various fund houses and life insurers can be regulated by it.