Pension for all, up & running from May 1

Pension for all, up & running from May 1 Gaurav Pai Mumbai Posted On Monday, March 30, 2009 at 12:44:21 PM The New Pension Scheme (NPS) will finally be opened up to the organised and unorganised sector from May 1 this year. The launch plan for the scheme, scheduled originally for April 1, had been put on hold as the pensions regulator — the Pension Fund Regulatory and Development Authority (PFRDA) — waited for a clarification from the Election Commission as to whether it could go ahead, considering the initiative will start right in the middle of the polling process. The EC has informed PFRDA that it can go ahead with the launch of the scheme —which has so far been open only to government employees — a senior official with knowledge of the development said. The move has been welcomed by pension sector experts, who said PFRDA was finding it tough to complete the information campaign necessary before its roll-out. The campaign will now be launched in April through television, radio and print advertisements. Experts feel the NPS — which aims to provide retirement benefits to even the neighbourhood grocer and plumber — will not take off unless massive awareness is generated through the media