PFRDA seeks NPS funds for long-gestation infrastructure within 2 years
Big update for future savers: The Pension Fund Regulatory and Development Authority (PFRDA) is looking to allow National Pension System (NPS) funds to go straight into major infrastructure projects within the next two years.
The idea, according to PFRDA Chairman S Ramann, is to channel a portion of long-term retirement savings into long-gestation assets.
PFRDA plans NPS Tatkal, Sanchay, Swasthya
PFRDA also wants more people in the NPS, not just government or corporate employees.
They're planning to introduce a UPI-based sign-up called NPS Tatkal, aiming to bring in informal workers and small business owners, basically making it easier for informal workers, self-employed people, merchants, and owners of small businesses to start saving for retirement.
Plus, there are two new options: NPS Sanchay (a default investment plan for non-government folks) and NPS Swasthya (combining pension savings with health insurance).
Ramann also shared a big goal: linking every Jan Dhan account with an NPS account by 2047.