The Association of NPS Intermediaries (ANI) includes bank and non-bank representatives, central record keeping agencies, pension agents, retirement advisors, etc. The formation of ANI is being described as a milestone for the NPS ecosystem. Those involved believe that this platform will be helpful in broadening pension schemes and strengthening retirement planning in India.
The Association of NPS Intermediaries (ANI) was formally inaugurated at the “Securing Tomorrow, with Pensions” conference in Mumbai to connect various stakeholders of the National Pension System (NPS). On this occasion, Dr. Deepak Mohanty, Chairman, PFRDA also launched the logo of ANI. This initiative has been taken to promote cooperation in the pension system, subscriber welfare and NPS.
Why is NPS special?
More than Rs 13.8 lakh crore of assets are managed under NPS and Atal Pension Yojana (APY). It has emerged as a great option for retirement planning. These schemes have 8 crore subscribers. Investors see them as a low-cost and tax-saving retirement option.
What is the objective of ANI?
- To promote NPS as a reliable and flexible retirement product.
- To strengthen the system by collaborating with policymakers and regulators.
- To ensure the well-being and transparency of subscribers.
What happened in the conference?
The conference discussed the need to promote pension awareness and financial literacy. The experts involved explained how one should focus on long-term investments and ESG-based strategies. Speaking at the conference, PFRDA Chairman Dr. Deepak Mohanty emphasized, “The launch of the NPS Association of NPS Intermediaries is an important milestone for the pension sector. I am confident that the association will lead to become a global benchmark for financial security with the guidance of its members and regulators.”
At the same time, LIC Chairman Siddharth Mohanty said that pension assets play an important role in the progress of the financial sector. State Bank of India MD Ram Mohan Rao Amara and Axis Bank Ltd MD and CEO Amitabh Chaudhary shared their views on the important role of financial institutions in the adoption and development of NPS. Additional Central Provident Fund Commissioner of EPFO Animesh Mishra also addressed the gathering and expressed his views on the need for sustainable pension.
Who are the members of ANI?
It includes bank and non-bank representatives, central record keeping agencies, pension agents, retirement advisors etc. The formation of ANI is a milestone for the NPS ecosystem. Those involved believe that this platform will be helpful in broadening pension schemes and strengthening retirement planning in India. This initiative is an important step for the needs of NPS subscribers and the financial future of the country.