Friday, February 28, 2020
India's pension regulatorPFRDA is looking forward to setting up a separate trust to manage pension funds of private sector employees and also to regulate all the current pension funds which do not come under any regulations.
Separation of NPS Trust was required as there was some conflict of interest. PFRDA is the regulator and at the same time, also does a lot of works which NPS Trust should be doing, so there was overlapping. So these are now removed and now, the NPS Trust will be working as an independent body. it will be underPFRDA regulation but will independent for their daily activities of management of the funds.
A separate trust for only private sector pension funds is suggested. Also in the amendment it is proposed that there can be more than one trust also. It may be so that we will have a different trust looking after the private sector funds. Today the structure is NPS Trust is looking after everything -- private and government sector both. All the funds are in one pool
