Abstract: GDP and per-capita income are considered as the major indices for country’s economic growth and development which in turn affect the saving and investment patterns. Saving rate in India was extremely low and was about 9% during 1950-1951 but improved to 23.6% in the ninth plan and was still 36.9% in 2007-08 and fell down a little and was 33.7% in 2009-10 and this felt the need to have some security even after retirement in order to maintain the same standard of living. It has been observed that ageing population globally has become a worry and India too is witnessing an increase in old-age dependency. India does not have a universal social security system as large number of elderly Indians were not covered under any pension scheme. Thus, a reform in pension system will not only ensure a sense of social security to the citizens but also help the State Government and Central Government to cut their liabilities. NPS is a contributory system under which both the employer and employee will have to contribute certain amount from their salary and employee will be provided regular income from their contribution after retirement. The amount of contribution invested in pension funds will depend upon the guidelines prescribed by PFRDA. In order to promote, develop and regulate the pension market in India, PFRDA was established in 2003 and this development authority provides the right to beneficiaries/subscribers to choose any sort of pension funds and investment patterns and it is quite clear that the expected risk and returns depends upon the type of portfolio taken by the subscriber. It is a fact that larger the contribution, higher the returns earned and longer the period of investments, higher will be the retirement benefits available to the employees. This paper examines the performance of seven Pension Fund Managers operating Equity Scheme of NPS. The study is based on secondary data collected from NPS trust.org and various references mentioned below which is further analyzed with the help of statistical tools such as mean, standard deviation and coefficient of variation.
Keywords: contributory, National Pension System, Pension Funds, Beneficiaries, Equity, Investment.
Title: A COMPARATIVE STUDY OF PENSION FUND MANAGERS OPERATING SCHEME-E OF NATIONAL PENSION SYSTEM
Author: Neeti Hooda, Dr. Kuldip Singh Chhikara
International Journal of Interdisciplinary Research and Innovations
ISSN 2348-1218 (print), ISSN 2348-1226 (online)
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