Microfinance Borrowers Encouraged to Secure Future with NPS

The Pension Fund Regulatory and Development Authority (PFRDA) has urged microfinance borrowers to adopt the National Pension Scheme (NPS) for financial stability. PFRDA and the West Bengal chapter of AMFI held a workshop to highlight NPS benefits, aiming to empower borrowers with retirement planning knowledge.

The Pension Fund Regulatory and Development Authority (PFRDA) has made a call to microfinance borrowers to adopt the National Pension Scheme (NPS) as a strategy for achieving long-term financial security.

In collaboration with the West Bengal chapter of the Association of Microfinance Institutions (AMFI), PFRDA hosted an awareness workshop. The event aimed to enlighten microfinance borrowers about the critical importance of retirement planning, a press statement revealed.

Key industry figures, including AMFI-WB chairman and Arohan Financial Services MD Manoj Nambiar and PFRDA deputy general manager Ismail Salam, attended the workshop. PFRDA officials delivered presentations outlining NPS structures, features, and benefits, emphasizing its suitability for informal sector workers. The initiative intends to equip microfinance borrowers with the necessary tools for effective post-retirement planning, also mentioning the deployment of pension agents to guide them through the enrollment process.

(With inputs from agencies.)