What Insights Did PFRDA Gather at Its Seminar on Enhancing NPS?
Click to start listening
Synopsis
The PFRDA hosted a seminar to discuss new pension schemes aimed at improving retirement benefits. Experts gathered to provide insights and feedback on innovative proposals designed for flexibility and assurance in pension payouts.
Key Takeaways
- Engagement of stakeholders in pension scheme discussions is crucial for successful implementation.
- Three innovative schemes aim to enhance flexibility and assurance in retirement benefits.
- Expert insights shared during the seminar can shape the future of the NPS.
- Public feedback is encouraged through the PFRDA website.
- The seminar fostered a rich exchange of ideas among participants.
Mumbai, Oct 28 (NationPress) - The Pension Fund Regulatory and Development Authority (PFRDA) announced that it hosted a seminar focusing on its consultation document titled "Enhancing the National Pension System: Proposals for Flexible, Assured and Predictable Pension Schemes".
The seminar aimed to collect expert opinions and stakeholder feedback regarding three proposed pension schemes under the National Pension System (NPS), intended to enhance retirement benefits by making them more flexible, predictable, and assured.
Held at the Insurance Institute of India in Mumbai, the event attracted a diverse group of participants including academicians, retirement income specialists, and representatives from pension funds, annuity, and life insurance providers, along with senior officials from PFRDA.
The consultation paper outlines three innovative pension schemes within the NPS framework, each designed to cater to the diverse needs of subscribers.
The first scheme, Pension Scheme–1 (Non-Assured, Flexible Decumulation), emphasizes maximizing pension wealth through a combination of a Step-up Systematic Withdrawal Plan (SWP) and an annuity.
The second, Pension Scheme–2 (Assured Benefit), aims to deliver a target pension with periodic inflation adjustments linked to the Consumer Price Index for Industrial Workers (CPI-IW).
The third, Pension Scheme–3 (Assured through Pension Credits), presents a novel idea of "Pension Credits", where each credit guarantees a fixed monthly pension payment, thereby increasing predictability and promoting goal-oriented participation.
The seminar featured discussions led by notable speakers, including Prof Arun Muralidhar (Adjunct Faculty, Georgetown University), Dr Renuka Sane, and Ravi Saraogi, CFA.
Their presentations sparked extensive dialogue regarding the future trajectory of the NPS and the practicality of the proposed models.
Each session was followed by interactive Q&A segments, encouraging a lively exchange of ideas and constructive feedback.
The PFRDA has called for input from all stakeholders, including NPS participants, potential subscribers, pension funds, annuity and life insurance providers, academia, and the general public.
To facilitate this, the consultation paper and feedback form are accessible on the PFRDA website for public comments and suggestions.
Point of View
The PFRDA's initiative to involve diverse stakeholders in refining pension schemes reflects a commitment to evolving retirement solutions. Engaging experts and the public ensures that the proposed changes align with the needs of the population, fostering a more secure financial future for retirees.
NationPress
27/12/2025
Frequently Asked Questions
What is the main goal of the PFRDA seminar?
The seminar aims to gather expert insights and stakeholder feedback on three proposed pension schemes designed to enhance the flexibility, predictability, and assurance of retirement benefits.
Where was the seminar held?
The seminar took place at the Insurance Institute of India in Mumbai.
Who were the key speakers at the seminar?
Notable speakers included Prof Arun Muralidhar, Dr Renuka Sane, and Ravi Saraogi, CFA.
How can stakeholders provide their feedback?
Stakeholders can submit their feedback through the consultation paper and feedback form available on the PFRDA website.
What are the proposed pension schemes?
The proposed pension schemes include a non-assured flexible decumulation option, an assured benefit scheme with inflation adjustments, and a scheme introducing Pension Credits for guaranteed monthly payouts.
