New pension fund managers by December: PFRDA chief

New pension fund managers by December: PFRDA chief
Supratim Bandyopadhyay, Chairman, PFRDA, said it had been doing a analysis and a few changes within the cost structure for pension fund managers and other intermediaries.

pension fund managers, new managers, National Pension System, PFRDA chief, Indian express news

Currently, there are 8 pension fund managers for the NPS — SBI Pension, UTI Retirement Solutions, LIC Pension, ICICI Prudential, HDFC Pension, Birla Sun Life Pension Scheme and Kotak Pension Fund. (Representational)
The Pension Fund Regulatory and Development Authority (PFRDA) is functioning on a replacement cost structure for pension fund managers and intermediaries of National Pension System (NPS) and Request for Proposal (RFP) to appoint new Pension Fund Managers (PFMs).

Supratim Bandyopadhyay, Chairman, PFRDA, said it had been doing a analysis and a few changes within the cost structure for pension fund managers and other intermediaries. “By December, we’ll see the RFPs out and everybody is welcome. there’ll be some entry barriers to bring serious players,” he said at the CII Insurance and Pensions Summit.

Currently, there are 8 pension fund managers for the NPS — SBI Pension, UTI Retirement Solutions, LIC Pension, ICICI Prudential, HDFC Pension, Birla Sun Life Pension Scheme and Kotak Pension Fund. NPS features a corpus of on the brink of Rs 5 lakh crore.

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