The government will organise a nationwide National Pension System (NPS) campaign from June 27 to July 9, aimed at creating awareness and registering subscribers for the scheme.
“With a view to improve subscriber interface, it has been decided to observe NPS Service Fortnight from June 27 to July 9 across the country,” the finance ministry said in a statement.
“This fortnight-long campaign is aimed at awareness creation, service orientation and information dissemination along with subscribers registration,” the statement added.
“There is tremendous potential in the private sector which needs to be tapped,” it said.
The NPS was made available to persons in the private and unorganised sector since May 2009. Currently, the total number of subscribers under NPS and Atal Pension Yojana together has reached 12.86 million and assets under management is more than Rs 120,000 crore.
Sample surveys conducted by financial analysts and market intelligence agencies have revealed that the NPS is a well designed and least cost pension product with exclusive tax benefits in the market, marketed and distributed by Points of Presence (POPs).
So far 72 POPs (comprising of banks, non-bank financial companies, micro finance institutions etc.) have registered over 55,500 branches in the NPS system for subscribers interface, it added.
About 75,000 officials are planned to be trained in the NPS architecture during the course of the year, the statement said.