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PFRDA woos corporates to become NPS subscribers

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Kolkata, Oct 15 (PTI) The Pension Fund Regulatory Development Authority (PFRDA), which regulates the National Pension System (NPS), is urging corporates to become its subscribers for the benefit of employees, its chairman Suprotim Bandopadyay said on Thursday.

Speaking at a webinar organised by the Indian Chamber of Commerce, he said there is a huge scope for expanding the NPS in the corporate sector.

Bandopadyay said nearly 8,000 corporates have registered with the NPS so far, indicating that the number was less.

The official said the total assets under the pension scheme and the Atal Pension Yojana (APY) has crossed Rs 5.05 lakh crore, with the corporate sector contributing 10 per cent.

He said in the last five-six months, the number of subscribers has increased by 13-14 per cent compared to the corresponding period a year ago.

Bandopadyay added that as the age of subscribers increase, exposure of the funds to equity and corporate bonds decrease and investments in government securities rise. PTI DC RBT RBT