Promotion and Development - NPS (incl. All Citizen, Corporate and RA), Product Development

Promotion and Development - NPS (incl. All Citizen, Corporate and RA), Product Development

Overview   

The Promotion and Development Department of the PFRDA plays a pivotal role in expanding the reach of the National Pension System (NPS) across the private sector, encompassing the All Citizen Model, Corporate Model, and Retirement Advisors (RAs). The department primarily focuses on increasing awareness, simplifying the subscriber onboarding process, and strengthening engagement with both individuals and organisations.

By working in close collaboration with Points of Presence (PoPs), Central Recordkeeping Agencies (CRAs), and other key stakeholders, the department ensures a seamless and user-friendly NPS onboarding experience. Through strategic campaigns, training initiatives, and stakeholder outreach, it fosters a supportive ecosystem that promotes NPS adoption and makes retirement planning more accessible and rewarding for all.
 
Key Functions
 
 1. Strategy Formulation   

  •  Develops annual strategies to increase NPS adoption in the private sector .  
  • Conducts yearly performance analysis and goal setting based on stakeholder feedback.  

 2. Performance Review & Optimization 

  • Regularly reviews and expand NPS distribution channels to enhance efficiency.  
  • Organises strategy and review meetings with PoPs, and  recognise the top-performing POPs for their contribution under NPS.

3. Engagement with POPs & CRAs   

  •  Collaborates closely with PoPs and CRAs to streamline the NPS subscriber onboarding process.
  • Identifies and addresses operational bottlenecks to ensure a more efficient and seamless user experience.

 4. Awareness & Outreach Programs   

  • Organises Corporate awareness programmes in collaboration with trade bodies and other institutions to promote the benefits of NPS.
  • Undertakes multi-channel promotional activities to enhance visibility and public understanding of the scheme.  

 5. POP Activation & Support 

  •  Supports newly registered PoPs and facilitates the reactivation of dormant PoPs to strengthen NPS distribution.
  • Provides  guidance for effective business plan formulation and implementation. 

 6. Training & Capacity Building 

  • Organises and Conducts training sessions for PoPs and corporate officials to keep them informed about NPS operations, procedures, and benefits.
  • Strengthens the knowledge base of key stakeholders to enable more effective promotion and implementation of NPS.

 7. Employer Engagement 

  •  Works with corporates, government bodies, and CPSEs to drive NPS adoption in their organisations.  
  • Facilitates seamless integration of NPS as a retirement benefit for employees.  

8. Coordination with Authorities 

  •  Collaborates with DOR and CBDT on taxation policies and superannuation fund regulations related to NPS.   

 9. Additional Responsibilities 

  •  Manages various other initiatives to strengthen and expand the reach of NPS.  

 10. Product Innovation & Development   

  •  Designs and develops new NPS products tailored to evolving subscriber needs.   
  •  Ensures that the NPS remains a competitive and attractive pension option.