Under the ‘Azadi Ka Amrit Mahotsav’, which day in 2021 was observed as the National Pension System Diwas (NPS Diwas)?
- AOption (a)
10 October
- BOption (b)
1 September
- COption (c)
10 September
- DOption (d)
1 October
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Correct answer
1 October
Why this answer is correct
The correct answer is 1 October.
Key Points
- The National Pension System Diwas (NPS Diwas) is observed on 1 October every year.
- This day is celebrated as part of the 'Azadi Ka Amrit Mahotsav' initiative, which marks 75 years of India's independence.
- The aim of NPS Diwas is to promote financial security and raise awareness about the benefits of the National Pension System in ensuring a secure future for citizens.
- The Pension Fund Regulatory and Development Authority (PFRDA) organizes events and campaigns to educate people about the importance of retirement planning.
- The National Pension System (NPS) is a voluntary retirement savings scheme launched by the Government of India in 2004.
- NPS is open to all citizens of India, with a focus on encouraging individuals to save for their retirement through systematic contributions.
- The scheme provides tax benefits under Section 80C and 80CCD of the Income Tax Act, making it financially attractive for contributors.
Additional Information
- 1 September
- This date is significant in the context of other events, but it is not the date on which National Pension System Diwas is observed.
- 10 October
- While 10 October is an important date for other celebrations or observances, it does not relate to the context of NPS Diwas.
- 10 September
- 10 September is not connected to the NPS Diwas but could be relevant for other national or international observances.
- Other Key Points
- The National Pension System is regulated by the PFRDA and is available to employees of both the public and private sectors.
- The NPS Trust oversees the operations of the scheme to ensure transparency and efficient management of funds.
- The scheme allows contributors to invest in a mix of equity, corporate bonds, and government securities, offering flexibility and growth potential.