Double-digit gain from NPS

The National Pension System (NPS) has delivered double-digit returns for fiscal year 2012-13 and has established “itself as not just being the cheapest retirement product but also as the highest returns generating scheme,” the finance ministry said today.

The National Pension System (NPS) regulated by Pension Fund Regulatory and Development Authority (PFRDA) has delivered double-digit returns for fiscal year 2012-13 and has established “itself as not just being the cheapest retirement product but also as the highest returns generating scheme,” the finance ministry said on Wednesday.

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The NPS, which was introduced by the government in January 2004 for new entrants and subsequently extended to the private sector in May 2009, has accumulated a corpus of Rs 33,000 crore contributed by five million subscribers.