eWallet PayTm Money gets the approval from Pension Fund Regulatory and Development Authority (PFRDA) for Investment in government pension schemes like NPS, APY etc. Interested investors can now invest in the National Pension System (NPS) through the Paytm Money app.
Paytm Money has informed that it has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) in this regard. A statement issued by Paytm Money said that investors will benefit from the addition of NPA to the app.
The ‘All Citizen Model’ of NPS was launched in the year 2009. After this, any person can invest in NPS. This statement said that under the All Citizen model, 13 lakh investors have invested in this scheme.
Paytm has said that it is providing easy digital options for investors to invest in this fund. The company aims to increase the number of people investing in NPS by several times through this simple digital investment option.
Amit Nair, President (Financial Services), Paytm, said, “The population of working youth in India is very large. In such a country, retirement planning needs to be made easier. We want to help millions of Indians to invest in NPS and create retirement funds. ”
He said that through NPS, users can save more tax and in this way it will work as a supplement to the tax saver mutual funds already available on the Paytm platform.
In a statement issued by Paytm, it said that there will be two options for investing in NPS on its platform. Tier-1 option is a tax saving scheme whereas Tier-2 does not have a lock-in period.
Investor may Checkout for investment using the PayTm money at https://www.paytmmoney.com/