NPS will now create a robust pension fund, PFRDA is set to come up with a new scheme

NPS: There is an important news for the working people that now they can build a bigger pension fund through the New Pension System (NPS). For this, pension fund regulatory body PFRDA (Pension Fund Regulatory and Development Authority) is gearing up to introduce 'New Balanced Life Cycle Fund' to make NPS attractive. This will help the shareholder build a substantial corpus till retirement. Under this proposed scheme of PFRDA, NPS generates higher investment amount till retirement in long term. Under this scheme, there will be a gradual reduction in equity investment when the shareholder turns 45, whereas currently the reduction starts from 35 years. Through this, shareholders who join NPS will have the facility of allocating higher investment amount in equity funds till the age of 45 years. This will help them build good funds till retirement. New plan to make NPS attractive: PFRDA chairman Deepak Mohanty said on Friday: We will come up with a 'New Balanced Life Cycle Fund' in the second quarter (July-September) to invest in equity share funds for the long term. By doing this, you can over-allocate in equity funds for a longer period of time. On the proposal related to Atal Pension Yojana, he said that under this new NPS scheme, there will be a gradual reduction in equity investment from the age of 45, currently this reduction starts from the age of 35. If this happens, people opting for NPS will be able to invest higher amounts in equity funds for a longer period of time. This will increase the pension fund in the long term, while striking a balance between risk and return. Also Read: Sensex-Nifty Surya Namaskar In Early Trade, Finally 1.22 Lakh New Shareholders Join APY In 2023-24 Atal Pension Yojana (APY), Deepak Mohanty In Last FY 2023-24. 1.22 lakh new shareholders joined APY. This is the highest number ever in a financial year since the scheme was launched. He said 1.3 crore shareholders are expected to join the scheme in the current financial year. According to PFRDA, the total number of shareholders joining APY is expected to cross 6.62 crore by June 2024. Also Read: Dough won't rise before going to the kitchen, Govt is making big preparations, NBS will now create a robust pension fund, PFRDA will come up with a new scheme.