PFRDA: PFRDA inaugurates app for financial inclusion, boost NPS

2024-03-07 15:33:11

PFRDA Chairperson Deepak Mohanty has launched a user-friendly web application developed by Zerodha Broking Limited, designed to simplify access to the National Pension System (NPS) for subscribers. This new initiative is part of a broader strategy to increase the NPS’s reach and streamline its management.

The application aims to provide a seamless experience for users, allowing them to easily manage their NPS accounts. Mohanty emphasized the importance of joining the NPS at a young age to maximize the benefits of compounding.

The NPS offers continuity in retirement savings accounts, ensuring that individuals can continue to contribute to their accounts regardless of their employment status.

Additionally, the NPS is available to non-resident Indians (NRIs), making it a versatile option for a wide range of individuals. By leveraging technology, such as the web application developed by Zerodha Broking Limited, the NPS aims to attract more subscribers, particularly among the tech-savvy younger generation.

NPS provides continuity to retirement saving accounts irrespective of one’s employment status and is available for non-resident Indians (NRIs), the Pension Fund Regulatory and Development Authority (PFRDA) said in a statement.

As youngsters are tech savvy, the facilitation by Zerodha Broking Limited would expand access to NPS, it added.

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