Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
PFRDA assigns Shriram Life Insurance as annuity service provider under NPS; plan details here
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • PFRDA assigns Shriram Life Insurance as annuity service provider under NPS; plan details here

PFRDA assigns Shriram Life Insurance as annuity service provider under NPS; plan details here

FP Trending • November 17, 2022, 14:32:04 IST
Whatsapp Facebook Twitter

With the PFRDA’s accreditation, SLIC will be able to increase the number of NPS subscribers to its annuity plan

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
PFRDA assigns Shriram Life Insurance as annuity service provider under NPS; plan details here

Shriram Life Insurance Company (SLIC) has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) to operate as a provider of annuity services for the National Pension System (NPS). After the certification was approved, SLIC released a statement stating that the insurance company will benefit from the empanelment in managing the annuity portion of maturity proceeds under NPS. For NPS subscribers, SLIC’s annuity plan, known as Immediate Annuity Plus, will offer flexible options that enable retirees to lead their lives in the same financial circumstances as before. With the PFRDA’s accreditation, SLIC will be able to increase the number of NPS subscribers to its annuity plan. SLIC will be able to mobilize 40 percent of the NPS maturity sum, which will be available for investment in annuity schemes, thanks to its appointment as an annuity service provider. Currently, SLIC has almost 1.5 crore NPS subscribers and an AUM of more than Rs 7 lakh crore throughout the country. After the PFRDA certification, Casparus Kromhout, MD and CEO of Shriram Life Insurance Company, responded by saying, “Shriram Life has a well-priced immediate annuity product and a robust fund management framework. With these, we are gearing up to make the best use of this new opportunity. This also provides us with another avenue to provide holistic insurance solutions for our customers.” The Annuity Service Provider is an insurance business with IRDA registration that has been appointed by the PFRDA to provide annuity services to NPS subscribers after they leave the scheme. After a subscriber turns 60 years old, ASPs will be in charge of paying the pension and managing the money assigned for purchasing annuities. In India, annuity premiums are generated at a rate of more than Rs 25,000 crore annually. This opportunity will increase as NPS subscriptions develop and subscribers retire. Customers will also be able to select from a variety of insurance companies that offer lucrative annuity plans based on their requirements and way of life. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

Tags
NPS PFRDA SLIC Annuity service
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV