pension facilities of permanent and temporary workers
Answers
NPS-National Pension System
* It is transparent - NPS is transparent and cost effective system wherein the pension contributions are invested in the pension fund schemes and the employee will be able to know the value of the investment on day to day basis.
*It is simple - All the subscriber has to do, is to open an account with his/her nodal office and get a Permanent Retirement Account Number (PRAN).
*It is portable - Each employee is identified by a unique number and has a separate PRAN which is portable i.e., will remain same even if an employee gets transferred to any other office.
*It is regulated - NPS is regulated by Pension Fund Regulatory and Development Authority - External website that opens in a new window, with transparent investment norms & regular monitoring and performance review of fund managers by NPS Trust - External website that opens in a new window.