Bhubaneswar, May 19, 2025 — The Pension Fund Regulatory and Development Authority (PFRDA), in collaboration with the Indian Chamber of Commerce (ICC) Odisha, today hosted an interactive session on the “Importance of Retirement Planning – Role of NPS” at Hotel The New Marrion, Bhubaneswar. The event aimed to enhance awareness around financial security for retirement, with a special focus on the National Pension System (NPS) and its growing relevance across corporate and individual segments.
The session was inaugurated with the presence of esteemed dignitaries, including Dr. Deepak Mohanty, Chairman, PFRDA, who delivered the keynote address, and Shri D Mishra, Chairman of AFCT. Senior officials such as Mr. Devesh Mittal, Deputy General Manager, PFRDA, and Mr. Chitta Ranjan Behera, Chartered Accountant, provided insights into the advantages of NPS and its tax benefits.
Highlighting the strategic importance of Odisha, it was shared that the state currently accounts for over 73,800 corporate sector subscribers under NPS—3.1% of India’s total—despite only 56 registered corporates from Odisha onboarded so far. Bhubaneswar alone houses more than 35,000 NPS subscribers, with over 50% in their 30s, reflecting early adoption among young professionals. Notably, female participation in NPS from Bhubaneswar (26%) exceeds the national average, underscoring the city’s progressive corporate environment.
The event also spotlighted recent milestones and policy initiatives:
- Launch of NPS Vatsalya, which now boasts over 1.12 lakh child subscribers.
- Corporate sector Assets Under Management (AUM)reached ₹2.25 lakh crore.
- Digital transformation through Project TRACE, streamlining compliance and boosting transparency across intermediaries.
Speakers emphasised the urgent need to address India’s low pension penetration—only 17% pension assets to GDP ratio compared to over 88% in OECD countries. With 80% of India’s workforce in the unorganised sector and rising nuclear family trends, the session stressed that building retirement resilience is no longer optional but essential.
The event concluded with an engaging Q&A session, where participants from corporates, MSMEs, and financial institutions discussed challenges and opportunities for adopting NPS in the region.
Shri Bisworanjan Sutar, representing ICC Odisha, delivered the vote of thanks, reiterating industry support for advancing retirement literacy and financial inclusion in the state.