Pension Fund Regulatory & Development Authority (PFRDA) has invited proposals from professional training institutes/organisations for imparting training on pension schemes regulated and administered by the pension regulator.

For this purpose, PFRDA has issued a Request for Proposal (RFP). The last date for submission of bids is February 27.

The commercial proposals would be evaluated on Least Cost Based selection (LCS) process, PFRDA has said.

Only entities (corporates, partnership firms and LLPs) with positive tangible networth in 3 out of five financial years (2018-19 to 2022-23). Average annual turnover exclusively from training activities in the last three financial years must be ₹1 crore (FY2020-21, 2021-22 and 2022-23), PFRDA has said. 

Training is proposed to be conducted for central government, state government, central autonomous bodies, state autonomous bodies, Point of Presence, corporate officers and APY subscribers. 

The training has to be delivered both online and offline mode, pension regulator said.

National Pension System (NPS) assets, including Atal Pension Yojana, have been growing at a frenetic pace in recent years and are expected to touch ₹12 lakh crore by end March 2024. 

In India, currently there are 7.13 crore NPS and APY subscribers. For the current fiscal, PFRDA is targeting to onboard 13 lakh new subscribers. So far, about 8.5 lakh new subscribers have joined NPS this fiscal. Last fiscal, NPS added a million new subscribers.

NPS took six years and six months to reach the milestone of ₹1-lakh crore AUM after its implementation in 2009. It then took 4 years and 11 months to further increase AUM to ₹5 lakh crore. NPS AUM had doubled to ₹10 lakh crore in August 2023 in just two years and ten months.