NPS Exploring SWP Option For Lump Sum Withdrawals At Retirement: Deepak Mohanty

What is your view on the Indian pension landscape? What is its future? The pension coverage in India is quite low, partly because more than 90 per cent of the workforce is in the informal and unorganized sector, where people are not entitled to workplace-related pension. There are different players in the market who are providing pension, such as annuity from insurance companies and some retirement solutions from mutual funds. Now, we have NPS and Atal Pension Yojana (APY), too. Because of these two—NPS and APY—pension is now accessible to even people in the unorganized sector, and anybody can afford to have a pension. This is being primarily driven by APY, which has about 46.3 million subscribers; there are 13.2 million subscribers in NPS. But there is more potential, so the aspiration is to ensure that everybody gets a pension. Do you think NPS has a large role to play in...