Although people’s financial awareness has improved, there is more to be done to ensure their financial security and wellbeing, PFRDA chairperson Deepak Mohanty said.

Atal Pension Yojana (APY) guarantees a regular monthly pension for low-income people after retirement at the age of 60.

BBPS is an integrated online platform that connects the utility and payment service providers.

PFRDA issues new guidelines for regulated entities (REs) and intermediaries to protect the data and privacy of the National Pension System (NPS) subscribers.

Bihar exceeded the FY2023-24 APY enrolment target by 177 per cent, Assam by 159 per cent, and Jharkhand by 158 per cent, according to PFRDA.

Senior citizens will comprise 20 per cent of India’s population by 2050, so ensuring adequate pensions for them is crucial for their financial securityand the country’s economic stability.

Effective July 1, 2024, the Pension Fund Regulatory and Development Authority (PFRDA) will make settling transactions on the same day mandatory in the National Pension System (NPS).

The NPS regulatory body PFRDA is set to launch a balance life cycle fund soon for non-government subscribers.

The Pension Fund Regulatory and Development Authority (PFRDA) has provided access to all three central record-keeping agencies (CRAs) for APY subscribers.

Retirement savings will be critical in a country of 1.4 billion people, the world’s most populous nation, given that by mid-2050, one in five Indians will be above 65.