In order to enhance knowledge on NPS, the pension fund regulator PFRDA is planning to rope in two training institutes to train NPS intermediaries like Point of Presence (POPs) and Retirement Advisers (RAs).
In fact, PFRDA is in the process of hiring training institute to create a ‘totally committed’ workforce to drive NPS. The pension fund regulator has invited bids from training institutes for this project. The last date to submit the bids is January 7.
The institute will be required to conduct face-to-face trainings for 3 to 4 hours. Also, the institute will be required to provide training material and kit to NPS intermediaries. Intermediaries can undergo this training in English, Hindi and other vernacular languages.
Seven pension fund managers manage over Rs. 1.50 lakh crore under NPS as on October 2016. However, a majority of contribution comes from government employees.
Recently, PFRDA has allowed IFAs to distribute NPS. IFAs have to pass NISM-Series-XVII: Retirement Adviser Certification Examination to become a retirement adviser.