State government subscribers under NPS now 32 lakh, AUM touches Rs 79,000 cr

The Pension Fund Regulatory and Development Authority said number of subscribers registered in state government sector under the National Pension Scheme has increased to 32 lakh and also the assets under management (AUM) is touching approximately Rs 79,000 crore.

Speaking at a conference NPS (National Pension Scheme) implementation by the state governments, PFRDA Chairman Hemant Contractor urged the state governments to frame timelines for all the activities specified by PFRDA. Currently, only 11 state governments have issued instructions regarding timelines.

Besides, framing of NPS rules for the respective states is also gaining importance and fixation of salary date will help in fixing accountability, he said.

Contractor advised the delegates about appointment of ombudsman which puts onus on the state governments to ensure prompt resolving of grievances in centralised grievance management system. He also discussed about the appointment of second CRA which will provide more choice to the state governments.

The Authority’s Member (Finance) R. V. Verma advised the state governments to ensure 100 percent subscriber coverage month on month. He laid stress on the inclusion of NPS related activities within the scope of audit of the state governments.