NEW
DELHI: The government today said pension fund regulator PFRDA
has garnered Rs 15,466 crore under the New Pension Scheme (NPS) as of July 2012.
The subscriptions of the Central and state government employees under the NPS
received up to July 31, 2012 is Rs 15,466.28 crore, Finance Minister P Chidambaram
said in a written reply in the Rajya Sabha.
Of this, Rs 10,741 crore was contribution from employees of Central government
and Rs 4,725 crore from state governments, he said.
"The performance of the NPS funds is satisfactory as it is in line with
the market performance for the last three years and also for the current
year," Chidambaram said.
NPS is a government-run retirement scheme for individuals, including those in
the unorganised sector. The scheme has been made mandatory for the government
employees, except for those in the armed forces.
In a separate reply, Chidambaram said death-cum- retirement gratuity is also
paid to employees of the Central government under NPS.
The government introduced the defined contribution-based NPS from January 2004
for Central government employees. Later, it was extended for all citizens in
May 2009. The minimum annual contribution in the pension scheme is Rs 1,000.
Interim Pension Fund Regulatory and Development Authority (PFRDA) has been
given powers to supervise and regulate the NPS.
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