Sunday, March 8, 2009

New Pension scheme to be launched from April

Come April and a New Pension scheme would be launched. It is initiative by the government to introduce a scheme wherein it would be easy for employees to invest their money in order to build a Pension corpus. Details of the scheme is out and the government has also finalized the asset managers who would manage part of money on behalf of the investors.

There was a lack of pension scheme in the market. This was the reason that current old age people was suffering at this time. The awareness regarding the pension was not much there in the past. Today the pension amount is too less to take care of their needs. Also the amount saved by them is so meager that its almost impossible to survive with it.

It is definitely a good start because one can expect more reforms in this direction. The gap was there almost from the start and it needed a positive approach. The induction of private fund manager is another step which is positive in this direction. The scheme has also options both for the educated and the novice ones. It gives flexibility to opt from various option including debt and equity.

While the feedback still need to come on NPS but the policy is out and there are very positive vibes in the market. We wish things will be fine from here on and would improve with time.                                                              

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