South Indian Bank: The Single Largest Service Provider Of PFRDA Scheme. PFRDA Proposes Incentives For PoPs

23 Mar

PFRDA (Pension Fund Regulatory and Development Authority) which launched the New Pension Scheme (NPS) has opened the door for many govt and private sector employees to secure their future through a single united scheme. To reach out to the common man PFRDA has opened many PoPs or Point of presence which are outlets to deal with NPS Scheme. SIB or the South Indian Bank has become the largest service provider in this category among 21 competing banks in India like SBI, ICIC etc.

SIB has altogether about 105 branches which are dedicated as PoPs. PFRDA has now plans to bring out low cost pension schemes which can reach to the millions of poor residing in India. This low cost pension plan will be launched from April 1st 2010. So as to reach every nook of the country PFRDA has also proposed to provide incentive schemes for the PoPs or the service providers.

In doing so PFRDA can reach many people across the country in less amount of time. PFRDA is also in discussions to provide NPS (New Pension Scheme ) through the postal services. NPS scheme allows investors to invest in equities , govt bonds etc. Get more details about PFRDA NPS scheme here.

ranganna

March 24th, 2010 at 11:07 am
1

This PFRDA Scheme although talked about for nearly a year, the full details are yet to be revealed fully. If the scheme is eloborated in a plain manner, there is no doubt many employed and self employed are willing to subscribe for the scheme.

Now nothing is known viz: amount to be paid; duration at which they are to be paid, eligibility criteria for the subscribers etc. may kindly be communicated to enable me to join the scheme.

Thanking you,

Yours faithfully
RANGANNA