To attract professionals and corporates to the National Pension System, the government should provide a level-playing field to NPS in comparison to superannuation funds like EPF which enjoy EEE tax benefit, the PFRDA has said.
As on June 30, 2016, there were 12.9 million subscribers of NPS and Atal Pension Yojna with assets under management of Rs. 1.32 lakh crore.
Central and state government employees account for 36.6 per cent of the total subscribers and 88.6 per cent of AUM under NPS and APY. Corporate segment accounts for only 3.8 per cent of the subscribers and 8 per cent of AUM.
Coverage under the corporate and all citizen model has not been an encouraging one, the Pension Fund Regulatory and Development Authority (PFRDA) has said.
