Through a directive dated August 23, 2021, the Pension Fund Regulatory and Development Authority (PFRDA) enabled e-NPS for the benefit of subscribers in the government sector. According to a recent circular from the pension regulator dated November 30, 2022, government employees have opened almost 9000 e-NPS accounts so far.
Currently, the Civil and Defense Ministries use e-NPS the most for the Central Government Employees, followed by Central Autonomous Bodies (CAB). Government personnel can profit from e-NPS in a number of ways, including the potential for increased returns. Here are five examples of such advantages:
Mandatory e-NPS
The regulator had earlier proposed to make e-NPS mandatory with effect from April 1, 2022. However, various departments/nodal offices under the Government sector are yet to adopt e-NPS Government holistically for the onboarding of new employees.
In the 30th November circular, the PFRDA once again informed all Government Nodal Officers of the State/Central/Autonomous Bodies to adopt the e-NPS Government for onboarding their new employees.
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