One is a guaranteed return product and another is market-linked. Even well-educated people who attend Moneylife Foundation seminars don’t understand the distinction between the two
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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There are multiple abreviations that come up when we should discuss retirement: EPF & PPF and EPS & NPS.
When we already had the EPF and the PPF schemes, was there a need to have NPS? In NPS 60% of the fund can be withdrawn as PF during retirement? Why not simply ask the employee to open or provide valid PPF account? Why create complex architecture of multiple person levels for NPS and then crib "our NPS is not picking upppp!"? And then if no one buys the fruit then push that fruit through the throats?
Moneylife foundation, on its part, should advise employees not covered by traditional pension schemes(which have certainty about ‘defined payment’) to include the cost element to buy retirement benefit products when they negotiate wage packages and individually decide the investment pattern of the savings meant for post-retirement life based on assumed needs.
In EPF, the employee, his employer and EPFO office is the structure.
In NPS, it all starts with POS and then PRAN, then himself then his employer then his fund manager, then CPRA and all that stuff.
Now they are giving choice but in future if they see that NPS is failing to take off then they make make a compulsion in a free and liberal democracy.