Giving NPS the retail push
A mere 400,000 subscribers actually made the conscious choice to open an NPS account
The National Pension System (NPS), introduced in 2004, was considered a revolutionary product attempting to provide social security to the large majority of Indians toiling in the unorganized sector. By some estimates, this number is nearly 90% of the working population of the country. Ironically, the need for this product has arisen due to some positive developments in our country. A few decades ago, people in this segment generally did not live long enough to celebrate their 60th birthdays. With greater access to medical facilities, more employment opportunities and increase in incomes, life expectancy in this segment is improving.