Early Times Report
Jammu, Nov 13: The Indian Institute of Management (IIM) Jammu under the leadership of Prof. B.S. Sahay, Director, IIM Jammu conducted a Subscriber Awareness Program on National Pension System for its employees today, offering valuable insights into one of the most cost-effective retirement saving models in the world.
Held at the VALMIKI Classroom on campus, the program aimed to educate employees on the benefits and functionalities of NPS to help them secure a financially stable future. The session was hosted by Mr. Anup Agrawal, Assistant Vice President at Protean eGov Technologies Ltd. (formerly NSDL e-Governance Infrastructure Ltd.), who provided a comprehensive overview of the NPS.
In his presentation, Mr. Anup Agrawal, Assistant Vice President, Protean eGov Technologies Ltd ((formerly NSDL e-Governance Infrastructure Ltd.) highlighted the global competitiveness of NPS as a low-cost saving model, detailing its unique features, such as the Permanent Retirement Account Number (PRAN) for each subscriber, and the role of NPS Trust in safeguarding investments. He addressed the process for handling duplicate NPS accounts, merging them when necessary, and emphasized that intermediaries follow strict guidelines to ensure transparency and efficiency. Subscribers can monitor fund performance and make informed decisions, with support from a trustee bank that redistributes investments across various securities. He also outlined the NPS architecture, explaining the roles of various stakeholders and the account structure, where subscribers are defaulted into Tier I accounts with an option to open Tier II accounts for greater flexibility. He discussed options to shift investments between market-linked and equity funds while availing of tax benefits and emphasized that timely investments are crucial for maximizing returns. Additionally, the program covered the Systematic Lump Sum Withdrawal (SLW) feature, and annuity calculators to aid in efficient financial planning.
Present on the occasion were Dr. Ateeque Shaikh, Chairperson, Executive Education and Consultancy, IIM Jammu, Shri Rajat Jain, FACAO, IIM Jammu, Shri Shailesh K Lohiya, Librarian, IIM Jammu along with other faculty, officers and staff members.
Garima Kushwaha, Assistant Administrative Officer (AAO), Establishment, IIM Jammu, provided a brief introduction during the commencement of the session, and she later extended the vote of thanks, acknowledging the insights shared and the participants' engagement.
Through this program, IIM Jammu reinforced its commitment to providing employees with vital financial knowledge, empowering them to leverage NPS for a secure retirement. |
