PFRDA Issues Revised Set of Guidelines PFRDA Issues Revised Set of Guidelines for Registration of Pension Fund Managers to Manage National Pension System for the Non-Governmentand Private Sector The Pension Fund Regulatory and Development Authority (PFRDA) today issued a revised set of guidelines for registration of Pension Fund Managers (PFMs) to manage the National Pension System (NPS) for the non-government and private sector. The revised guidelines, available on PFRDA’s website www.pfrda.org.in, have done away with the earlier bidding process, wherein a pre-determined number of slots were bid for by the PFMs, and the fees charged by them for managing the pension funds had to be uniform for all players. The earlier process has now been replaced by a system which lays down the eligibility criteria for registration as PFMs, and all interested players desiring to enter the pension industry, can register as PFMs subject to their fulfilling the eligibility criteria. There is no limitation on the number of PFMs. Further, the PFMs are now allowed to prescribe their own fee charges, subject to an overall ceiling to be laid down by PFRDA. It is expected that this would provide for an economically viable business model for the PFMs attracting a fresh set of entrants into the pension industry, and the resultant competition would ensure market driven fee structures, which would work to the advantage of the pension subscribers. The PFMs would also be expected to market the National Pension System (NPS) to the potential subscribers, deciding their own marketing and distribution channels as per their business perceptions. It may be recalled that the NPS has not achieved any significant progress in the private sector, despite passage of considerable time, and these guidelines have been awaited by the industry for quite some time. The changes are as per the recommendations of the Bajpai Committee, set up by PFRDA to go into the reasons for the slow progress of NPS in the private sector. The final guidelines have been issued subsequent to intensive discussions with all stakeholders, including existing and potential Pension Fund Managers as also suggestions received from pension subscribers. Source:pib Share and Care For Latest Updates Always visit http://satish24k.blogspot.in For Beautiful Wallpapers Always visit http://24ksatish.blogspot.in |
Print
PDF
For Further Reading,
- Option to defer Annuity purchase under NPS at the time of exit-PFRDA
- Double Digit Returns on National Pension System (NPS) Schemes for Financial Year 2012-13
- Gratuity Pay under New Pension System
- Comparison in the returns between Employees Provident Fund and New Pension Scheme
- Aadhaar Seeding cum Registration Camp
- One Rank One Pension Latest News - Retired Defence Personnel Protesting Over One Rank One Pension Begin Relay Hunger Strike
- Message for employees retiring within the next six months-DOPT
- PM Suggests Aadhaar-Based E-Tracking Of Pension Cases
- EPS pensioners assured of minimum pension of Rs. 1000 per month
- Haryana govt revises pension
- 7th CPC Latest News - Gazette Notification for implementation of 7th CPC
- 90 days paid leave for central government employees who are victims of sexual harassment
- Govt’s new sexual harassment guidelines: ‘Can transfer accused, give paid leave to complainant’
- 7TH PAY COMMISSION EXPECTED SALARY CALCULATOR
- Promotion and postings - Appointment of meritorious Sports persons - DELAY IN SETTLEMENT OF CLAIMS
- REGARDING DELAY IN SETTLEMENT OF CLAIMS RELATING TO EDAGIS-92/GDSGIS-10 FOR GRAMIN DAK SEVAKS.
- What is Digital India? Must know
- PAYMENT BANK LICENSE TO DOP
- Monetary ceiling of briefcase/ladles purses for official purposes -INDIA POST
- New Pension Scheme : Family pension under NPS
About the Author
0 comments:
Post a Comment