In April 2026, Pension Fund Regulatory and Development Authority (PFRDA), under the Ministry of Finance (MoF), approved PPFAS Asset Management Company (AMC), a wholly-owned subsidiary of Parag Parikh Financial Advisory Services Limited (PPFAS), to act as a sponsor for a pension fund under the National Pension System (NPS).
- The initiative aims to manage long-term retirement savings of NPS subscribers with a focus on investor protection, disciplined investing, and consistent returns.
Key Details:
Structure: A separate pension fund company will be established to manage NPS schemes and invest across Equities (EQ), Government Securities (G-Secs), and Corporate Bonds (CBs), with operations commencing after completion of procedural, regulatory, and infrastructure requirements.
NPS Fund Managers: Currently, ten AMCs operate under the NPS, including Aditya Birla Sun Life Asset Management Co., Axis Asset Management Co., DSP Asset Managers, HDFC Asset Management Co., ICICI Prudential Asset Management Co., Kotak Asset Management Co., LIC Asset Management Co., SBI Funds Management, Tata Asset Management Co., and UTI Asset Management Co.
NPS: The NPS, launched in 2004 (for government employees) and extended to all citizens in 2009, is implemented by the PFRDA and allows subscribers to choose and switch fund managers for long-term retirement planning.
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