PFRDA eases registration norms for Fund Managers of NPS
With an objective to give impetus to the National Pension System (NPS), the Pension Fund Regulatory and Development Authority (PFRDA) eased norms for registration of pension fund managers. This move will induce greater competition by removing cap on the number of Pension Fund Managers (PFMs).
It has notified a revised set of guidelines for registration of PFMs to manage the Pension System for the non-government and private sector.
The revised guidelines have done away with the earlier bidding process, wherein a pre-determined number of slots were bid for by the PFMs.
The process has now been replaced by a system which lays down the eligibility criteria for registration as PFMs