Pension Fund Regulatory and Development Authority PFRDA, B-14/A,Chhatrapati Shivaji Bhawan, Qutab Institutional Area, Katwaria Sarai ,New Delhi-110016

1

Over all Status of NPS as on 30th November 2016

Sector Number of Subscribers

Contribution ( Corpus )

(Rs Cr)

Total Assets Under Management

(Rs Cr)

Central Government

17,52,085 44,185 63,199

State Governments

32,00,918 60,544 79,050

Corporate 5,40,553 10,856 13,299

All Citizen Model 2,76,498 1,849 2,028

NPS Lite/Swablamba

n

44,51,490 2,058 2,647

APY 37,29,214 1,271 1,419

Total 1,39,50,758 1,20,764 1,61,641

Corpus under State Government Sector has crossed Rs. 60,000 cr mark .

AUM under State Government segment has crossed Rs 79,000 cr mark.

State Government segment has registered more than 32 lacs subscribers.

More than 754 State Autonomous Bodies ( SABs) have been registered

covering 21 States .

Rajasthan & Maharashtra are two states which have remitted more than Rs

5,000 crs.

In the FY 2015-16 , State Government segment has received highest ever

inflow of Rs 18,305 crs.

Achievements/Milestones in State Government segment

3

State Government segment has become the largest segment under NPS.

Achievements/Milestones in State Government segment

4

Contributions ( in CRs) ( as on 30-11-16) State Governments 60,544 Central Government 44,185

Total 1,04,729

State Governments 58%

Central Government 42%

Contributions ( in CRs)

Madhya Pradesh ( 4730 crs)

Maharashtra ( 5361 crs)

Rajasthan ( 7089 crs)

Uttar Pradesh ( 4616 crs)

Andhra Pradesh ( 4090 crs)

Growth in Corpus & AUM since first Conference

(as on 30st Nov 2016 )

0

10000

20000

30000

40000

50000

60000

70000

80000

2011-12 2012-13 2013-14 2014-15 2015-16 UptoNov 16

Corpus 3276 9736 18364 29702 48007 60544

Corpus AUM 3506 10748 20095 36244 57498 79050

In C

r

Growth in Corpus & AUM ( In cr.)

There is an appreciation of Rs 18,506 crs as on 30-11-2016

Year on Year growth in State Government Corpus

( as on 30st Nov 2016 )

Amount In Rs. Crore

6

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

2011-12 2012-13 2013-14 2014-15 2015-16 Upto Nov16

2141

6460

8628

11338

18305

12537

State Government

Average Monthly Contribution in a FY

Amount In Rs. Crore

7

14 81

178

538

719

945

1525 1567

0

200

400

600

800

1000

1200

1400

1600

1800

2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 Upto Nov 16

NAV movement since inception of SG scheme

25-Jun-09

31-Mar-10

31-Mar-11

31-Mar-12

31-Mar-13

31-Mar-14

31-Mar-15

31-Mar-16

30-Nov -16

CAGR since inception

SBI 10 10.6339 11.685 12.4821 14.1066 14.6437 17.5375 18.6979 21.3967 10.77 %

LIC 10 10.6027 11.7445 12.5339 14.1321 14.9673 17.8583 18.9160 21.6099 10.91 %

UTI 10 10.5935 11.7949 12.5163 14.1707 14.8384 17.6169 18.7273 21.4085 10.78%

0 5 10 15 20 25 30 35

Contribution Corpus ( AUM )

List of top 10 States

( as on 30-Nov-2016 )

10

State Date of

Adoption Subscriber registered

State

Corpus

( Amount

Received in

cr.)

1 Uttar Pradesh 1-Apr-2005 3,90,498

1 Rajasthan

7,089

2 Madhya Pradesh 1-Jan-2005 3,48,691

2 Maharashtra

5,361

3 Rajasthan 1-Jan-2004 2,66,795

3 Madhya Pradesh

4,730

4 Chhattisgarh 1-Nov-2004 2,65,711

4 Uttar Pradesh

4,619

5 Maharashtra 1-Nov-2005 2,33,915

5 Andhra Pradesh

4,090

6 Karnataka 1-Apr-2006 1,74,092

6 Karnataka

3,907

7 Andhra Pradesh 1-Sep-2004 1,67,895

7 Punjab

3,293

8 Gujarat 1-Apr-2005 1,34,168

8 Haryana

3,117

9 Bihar 1-Sep-2005 1,30,830

9 Gujarat

2,887

10 Assam 1-Feb-2005 1,27,171 10 Bihar 2,796

Following data is showing the progress of all States.

Progress under State Government sector

11

Sep-11 Nov-16

States adopted NPS Architecture 21 26

States with subscribers 19 26

States started uploading 16 26

States actively uploading 12 26

States with SABs 6 20

Policy Matters : Following policy matters have been shared with State

Governments :

1. Framing of timelines related to various activities related to NPS

2. Mandatory online exit

3. Compensation for delays

4. Inclusion of activities of NPS in the internal audit of the state.

Operational Matters : Following are some of new initiatives :

1. Online exit

2. DDO login facility

3. Uploading of unequal contributions

4. Uploading of shifted subscribers

5. Mobile app

6. Uploading of voluntary contributions in Tier-1 and operationalization of

Tier-2 account through nodal offices .

Our efforts with State’s officials to streamline the implementation of NPS in State Government sector ( after last conference )

12

EMMeetings : Meetings held with various governments – Maharashtra , Rajasthan ,

Uttar Pradesh , Goa , Punjab , Andhra Pradesh , Telangana , Bihar ,

Karnataka , Haryana , Chhattisgarh .

Conferences and workshops:

- All State Conference @ Delhi- Dec 2015

- Seminar on NPS for DTO of UP @ Lucknow May 2016

- North Eastern States conference @ Guwahati , Jun 2016

- Punjab Nodal officers ( DTO/DTA ) conference @ Chandigarh July 2016

- Karnataka Nodal Offices ( DTO/DTA ) conference @ Bengaluru , Aug 2016

- Workshop for SABs of Karnataka @ Bengaluru , Aug 2016

- Training cum workshop on NPS for Rajasthan @ Jaipur ,Sep 2016

- CABs/SABs workshop @ Bhubaneshwar , Sep 2016

- Haryana Nodal officers ( DTOs ) conference @ Chandigarh ,Oct 2016

- CABs/SABs workshop @ Chandigarh , Oct 2016

- Rajasthan Nodal officers ( DTO/DTA) workshop @ Jaipur , Nov 2016

Our efforts with State’s officials to streamline the implementation of NPS in State Government sector (after last conference ) cont……

13

Govt. of UP : Seminar on NPS at Lucknow on 20-05-16

North Eastern States Conference at Guwahati: June 2016

15

DTOs conference cum workshop at Bengaluru for Government of Karnataka (23-08-16)

16

DTOs conference cum workshop at Chandigarh for Government of Haryana (17-10-16)

DTOs conference cum workshop at Chandigarh for Government of Punjab ( 08-07-16)

17

DTOs workshop at Jaipur for Government of Rajasthan on 08-11-16 :

Recordkeeping agency provides following set of IT and system enabled services to the subscriber over and above introductory PRAN kit which contains information about NPS,PRAN card , IPIN/TPIN for web& tele accesses:

a). SMS alerts on :

Subscriber registration.

Credit/Debit of units in the subscriber account.

Fund value in subscriber's account(quarterly alert).

Withdrawal.

b) Email alerts on :

Subscriber registration

Credit/Debit of units in the subscriber account

Change in subscriber details, nomination details and any other activity related to subscriber details

Grievance log & Resolution

Withdrawal

Various other communications issued by PFRDA and CRA ( NSDL ).

c ) Portable PRAN number across jobs & locations.

d) Centralized Grievance Management System (CGMS) with a pre- determined turnaround time for resolution of grievances related to different services.

e ) Call Center Facility.

f ) Periodic consolidated SOT (Statement of Transactions).

g ) Web based access to all the NPS Stakeholders and mobile app.

h ) Subscriber awareness programs at various locations and centers.

i ) Subscriber can update his/her mobile no & email id by login in CRA system through his/her I-PIN.

j ) Subscriber can change his/her I-Pin through OTP process.

k). Hassle free settlement of corpus in case of unfortunate death of the subscriber.

Benefits of updated nominations , mobile no and emails.

Clarity on Retirement and death gratuity and family pension in case

of death /disability by Central Government

1. Ministry of Personnel , Public Grievances and Pensions has issued a OM no – 7/5/2012-P&PW(F)/B dated 26-08-2016 on extension of “Retirement and Death Gratuity “ as applicable to CCS ( Pension ) rules 1972.

2. Ministry of Personnel , Public Grievances and Pensions has already issued a OM no – 38/41/06-P&PW(A) dated 05-05-2009 on additional relief on death /disability and same has been extended along with above mentioned benefit.

A ) Formation of NPS cell at each Treasury Office : This cell will

perform following functions :

- Monitor the uploading of NPS contributions in the supervision of TO.

- Interact with all associated DDOs & encourage them to send salary & NPS deductions

details within stipulated time frame.

- Report list of errant DDOs to Nodal office on monthly basis.

- Resolve grievances of subscribers in time bound manner.

- Process request received through S-2 forms.

- Provide all necessary information related to NPS to DDOs so that they

can share the inform with all the associated subscribers.

- Follow up of exit cases - Superannuation cases( from 6 months in advance ) & Death

cases and guide the employees in case of pre-mature exits.

- Send compliance certificate to Nodal office on quarterly basis.

- Any other functions/responsibilities given by the State Government.

NPS – The Road ahead

B ) Formulation of timelines for various activities related to NPS ,if not issued, with

the provisions of compensation for non-adherence by the nodal offices.

C). Evaluation of possibility of inclusion of salary date in the SCF for arriving delay

and providing compensation accordingly.

D). Ensuring compliance of NPS implementation in the SABs.

E ). Make all Non IRA subscribers IRA compliant by March 2017.

F). Reduction in delay in contributions uploads & PRAN generation

G). Timely processing of withdrawal forms and submission of withdrawal forms

on time to CRA.

H). Automation of NPS related activities in the treasury system, if not done.

I). All new joinees under NPS should be given introductory documents related to

features of NPS at the time of joining itself .Brochure & application form amy be

sent along appointment letter.

J). Introduce a session on NPS & its features in all training programs.

NPS – The Road ahead

Proposal for providing choice to Government employees are –

A. Choice of Pension Funds

Subscribers will be allowed to choose the pension funds

B. Choice of Investment Pattern

Subscribers will have choice of investment pattern

However, the existing arrangement of Pension Funds as well as

investment pattern will continue as Default Option.

.

Proposal for choice to Government Employees ( Submitted to Central Government )

Rationale for proposal :

Restrictions of deployment of funds across the three Public Sector PFs

Competition among the pension funds

Competition leading to efficiency in service and cost.

Bring parity with the private Sector NPS subscribers

Enable Government subscribers to choose Pension Fund.

Provide enabling framework

Enable opportunities for Govt. employees to optimize their pension wealth

PFRDA statutory Regulations in place.

.

Proposal for choice to Government Employees ( Submitted to Central Government )

PFRDA has registered Karvy Computershare Pvt. Ltd. (KCPL) to work as second CRA under

NPS in order to build efficiencies in the processes and services including the charges for the

services offered by the CRAs.

With the introduction of second CRA the governments will have an option to choose between

the two CRAs for servicing their underlying employees who are covered under NPS.

KCPL is currently under the process of development and testing of CRA system and is

expected to go live very soon. PFRDA would be sending detailed communication in this

regard to all state and central governments shortly.

KCPL is expected to offer all those services which the current CRA M/s NSDL e-governance

Ltd is offering.

.

Introduction of Karvy Computershare Pvt Ltd as Second CRA under NPS

25