. The Conference was attended by Shri Ratan P Watal, Secretary, Department of Expenditure, Shri Hemant Contractor, Chairman, PFRDA, Shri R V Verma, Whole Time Member (WTM- Finance), PFRDA and Dr. B S Bhandari, WTM (Economics), PFRDA.
Eaerlier speaking on the occasion, Chairman PFRDA, Shri Hemant Contractor, commended the substantial improvement in performance of Central Government Ministries under NPS. He stated that the attractive market based returns have added to the stakeholder confidence. He raised two pertinent issues for the participating members which impact the final pension receivable by a Government subscriber which include efficiency in handling of subscriber contribution & its timely deployment for investment, and ensuring full coverage of all government subscribers including autonomous bodies.
Shri Ratan P Watal, Secretary, Department of Expenditure, Ministry of Finance emphasised on the dual responsibility of PFRDA as a regulator and developer of the pension industry. Shri Watal stressed the process orientation of NPS and emphasised the important role of FAs/CCAs in terms of early enrolment and timely contribution, upload and redressal of subscribers’ grievances. He further advised the FAs/CCAs to carry-out periodic reviews on the implementation of NPS and performance of the scheme under the above parameters specifically.
Shri R V Verma, Whole Time Member (WTM- Finance), while summing- up emphasised the need for discipline of remitting of the subscriber contribution especially in view of the enhanced role of the Government nodal officers as envisaged in the regulations and the provisions of the Act . He sought the cooperation of Government to suggest the way forward for providing individual choices of pension funds and investment pattern for Government Subscribers. He stressed on the need for enhancing capacity building of the nodal officers so that they could in turn enable the financial literacy and awareness of the subscribers.