Interim pension regulator Pension Fund Regulatory and Development Authority (PFRDA) on Thursday introduced a new scheme, NSP Lite, for the poor. The scheme aims at building a corpus sufficient enough to buy an annuity for their old age. The government's 'Swavalamban Scheme', which grants an incentive of Rs 1,000 to all eligible New Pension System (NPS) accounts shall be available to all NPS Lite account holders as well, if they meet the prescribed criteria, said PFRDA.
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