About NPS Trust
The National Pension System Trust (NPS Trust) was established by PFRDA on 27th February, 2008 with the execution of the NPS Trust Deed. The NPS Trust has been set up and constituted for taking care of the assets and funds under the National Pension System (NPS) in the interest of the beneficiaries (subscribers). Individual NPS subscribers shall be the beneficiaries of the NPS Trust. The NPS funds are managed by the Board of Trustees to realize and fulfill the objectives of the NPS Trust in the exclusive interest of the Subscribers.
NDML has received an approval from Insurance Regulatory and Development Authority (IRDA) for setting up Insurance Repository and named it as ‘NSDL National Insurance Repository (NIR)’. NIR will facilitate holding of all type of insurance policies in electronic form in a single e-Insurance Account (eIA). It will do away with all the lacunae of holding the insurance policies in physical form. eIA will also facilitate common Know Your Customer (KYC) for eIA holder. The KYC done while opening an eIA will eliminate the need to repeatedly do the KYC every time an insurance policy is purchased. eIA also acts as a single point of contact for the account holder to update demographic details with all the insurance companies with whom insurance policies are held. It will also facilitate conversion of the existing paper policies into electronic policies at the request of the policy holders.