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IT, consulting firms lead NPS adoption in pvt space
Information technology (IT) and IT-enabled consulting firms lead the adoption of the National Pension System (NPS) in the private sector under the corporate model of the scheme, according to the latest data available until September 2023 from the Pension Fund Regulatory and Development Authority (PFRDA), as accessed by Business Standard. Data pertaining to the top 50 companies, which represents more than half of the total 1.84 million NPS subscribers under the corporate model, reveals that among the private sector, IT and consulting firms have the highest share of subscribers (13.2 per cent), followed by private banks (6 per cent) and financial services firms (4 per cent). IT and consulting firms account for 131,354 subscribers, followed by the private banking sector with 59,521 subscribers and financial services with 38,914 subscribers.