Pension regulator PFRDA has urged all central autonomous bodies to adopt National Pension System, stating that any delay in decision making will not be in the interest of their employees.
"Its still not too late to decide on this. The most compelling reason for opting for NPS this year is the additional tax benefits that new subscribers will get this year," Hemant Contractor, Chairman, Pension Fund Regulatory & Development Authority(PFRDA) said at a conference here on Friday.
As many as 350 CABs are remaining outside the ambit of NPS as on date, Contractor said.
Already 498 CABs have already signed up for NPS and the total assets under management of the contributions made by their employees stood at Rs 5,113 crore.
R.V.Verma, Member, PFRDA said that there was no reason for so many CABs to be outside the NPS system when almost the entire Central Government and State Governments have come on board.