Four Pension Yatras were flagged off simultaneously from Delhi, Ahmedabad, Bengaluru and Kolkata. Each Yatra will travel across districts in its respective State/UT for 15 days, with 12 more Yatras planned over the next six months.
The initiative focuses on NPS Sanchay, a simplified variant of the National Pension System aimed particularly at people in the informal and self-employed sectors, first-time investors and citizens who may find investment choices and asset allocation difficult to navigate.
What is NPS Sanchay?
NPS Sanchay allows a subscriber to join the National Pension System without having to select an investment option at the time of joining.
Instead, a predefined investment pattern is provided, aligned with the investment pattern applicable to Central and State Government NPS subscribers.
Under this pattern, 75% of contributions are invested in government securities and corporate bonds, while 25% is invested in equity.
Subscribers can subsequently modify the investment pattern.
The arrangement is intended to simplify the initial investment decision for people who may be unfamiliar with different investment options and asset allocation.
Who can open an NPS Sanchay account?
NPS Sanchay is available to Indian citizens between 18 and 85 years of age.
An account can be opened with an initial contribution of ₹250, while subsequent contributions can start from ₹10.
There is no mandatory minimum annual contribution, allowing subscribers with irregular incomes to contribute according to their convenience.
How can you open an NPS Sanchay account?
NPS Sanchay accounts can be opened through online channels, banks, Points of Presence (PoPs) and Common Service Centres (CSCs).
During the Pension Yatra, teams will also provide information on NPS Sanchay and facilitate access to NPS through Tatkal NPS and assisted channels.
Why is PFRDA conducting the Pension Yatra?
The Yatra is part of PFRDA’s broader pension-awareness efforts and is intended to take information directly to communities, workplaces, local markets and districts.
According to PFRDA, it conducted 60 outreach programmes over the last nine months, with another 80 planned during the current year.
The first four Yatras, starting from Delhi, Ahmedabad, Bengaluru and Kolkata, will each cover districts in their respective State/UT over 15 days. Twelve additional Yatras are planned over the next six months.