Retail segment of NPS grows by over 100%

16 August, New Delhi

The retail segment of National Pension Scheme (NPS) has grown by over 100 per cent over the past one year.

PFRDA Chairman Hemant Contractor told PTI that the new provision to provide tax benefits up to 40 per cent of maturity of investment has drawn a lot of retail investors to the NPS schemes.

Earlier, NPS schemes which were launched five years ago, had failed to get retail subscribers.

He said, assets under management of NPS has reached 1.38 trillion rupees out of which Rs. 3,000 crore are of retail assets.

Number of total subscribers including those who had subscribed for NPS/Swavalamban are more than the number of government employees who have subscribed for NPS.