PFRDA Approves Reforms to Strengthen NPS

The PFRDA has made some big changes to the National Pension System (NPS) to make it better for everyone.

They are now allowing big banks to start their own Pension Funds, which will make the system more competitive.

They also appointed three new trustees to help manage the NPS Trust.

Additionally, they changed the fees that Pension Funds have to pay, starting from next year.

These changes are meant to make sure people get better returns on their pensions and have more security when they retire.

The goal is to make the NPS more robust and accessible to more people, including those in the gig economy.