INDIA - The board of the Pension Regulatory Fund Development Authority (PFRDA) yesterday approved a proposal to manage companies' pension pots, said executive director Rani Nair.
Nair said the board still needs to work out the details of transferring assets, but expects to begin managing new assets in as soon as two months.
"This request has come from a number of companies that want access to our investment managers," said Nair.
The pension regulator was established in 2003, but began managing the assets of some government employees in 2008. In May of this year, the PFRDA began managing the assets of individuals under the New Pension Scheme (NPS).
The NPS is a defined contribution scheme set up for all Indian workers. It offers three investment options- E, C and G. Option E is the riskiest, investing in equity markets, while option G is the conservative offering and invests mainly in fixed income.
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