
The Pension Fund Regulatory and Development Authority (PFRDA) has approved PPFAS Asset Management Company (AMC) to act as a sponsor for a pension fund under the National Pension System (NPS).
PPFAS AMC, a subsidiary of Parag Parikh Financial Advisory Services Limited, will set up a separate pension fund company to invest in Equities (EQ), Government Securities (G-Secs), and Corporate Bonds (CBs). Currently, there are 10 AMCs authorized to function as fund managers under the NPS framework.
It is to be noted that the NPS was launched in 2004 for government employees and was extended to all citizens in 2009, allowing individuals to choose and switch between various fund managers.
