Benefits of National Pension Scheme (NPS)
Financial Impact on Employees Under National Pension Scheme (NPS)
The National Pension System (NPS) has been designed giving utmost importance to the welfare of the subscribers under NPS. There are a number of Benefits of National Pension Scheme (NPS) available to the employees under NPS. Some of the benefits are enlisted below:
• NPS is a well designed pension system managed through an unbundled architecture involving intermediaries appointed by the Pension Fund Regulatory and Development Authority (PFRDA) viz, pension funds, custodian, central record keeping and accounting agency, National Pension System Trust, trustee bank, points of presence and annuity service providers. It is prudently regulated by PFRDA which is a statutory regulatory body established to promote old age income security and to protect the interests of subscribers of NPS.
• Dual benefit of low cost and power of compounding – The pension wealth which accumulates over a period of time till retirement grows with a compounding effect. The all-in-costs of the institutional architecture of NPS are among the lowest in the world.
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