National Pension System is an investment scheme launched across the country by Prime Minister Atal Bihari Vajpayee in 2004 to ensure a financially secure lifestyle for old age or retired people. Since the launch of this scheme, more than six crore people across the country have opted for this pension scheme. Chairperson of Pension Fund Regulatory and Development Authority Supratim Bandhopadhyay said this in a press conference on National Pension System at the conference hall of West Tripura District Administration Office yesterday.
Chairperson said in the press conference that the central government employees have been brought under this scheme in the first phase. Later, several state governments of the country also encouraged their state government employees to join this scheme. The scheme was launched in Tripura from July 1, 2018. He said that the government has been able to invest about eight and a half lakhcrore rupees in different markets due to the involvement of more than 6 crore people in this scheme. Regarding this National Pension System, he said, if any central government employee deposits 1000 rupees of his basic pay in this scheme every month, the government is contributing 14 percent there on. On the other hand, in case of different state employees, if an employee deposits 10 percent of his basic pay in this scheme every month, the government will also deposit 10 percent in this scheme. One can join this scheme from the age of 18 years and can continue till the age of 60 years. If necessary, one can continue till the age of 75 years. In the press conference, he said, this scheme is a very important service for the elderly. A retiredperson can get a huge financial benefit from this scheme after the end of service. Giving example, he said if a person has accumulated 40 lakh rupees in this scheme, after retirement he can withdraw 24 lakh rupees in one go. By investing the remaining 16 lakhrupees in this scheme, the person can get a fixed amount of rupees as pension every month. In case of death of pensioner his wife or nominee will get the pension. If wife or nominee dies his family can withdraw the principal amount. No income tax is payable on it. This scheme is a completely income tax free scheme.
At the press conference, he urged everyone to take advantage of this pension scheme. Chief General Manager PFRD K Mohan Gandhi and Additional Secretary of State Finance Department Akinchan Sarkar were also present at the press conference along with Chairperson Supratim Bandhopadhyay.
