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PFRDA raises cap on fund management charges as it floats RFPs

There would now be four slabs, each attracting charges based on the quantum of assets under management

pension, insurance, savings, senior citizen, employment, NPS, PFRDA

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The pension regulator has also raised the minimum capital requirement to Rs 50 crore from earlier Rs 25 crore.

3 min read Last Updated : Jan 05 2021 | 11:29 PM IST

The Pension Fund Regulatory and Development Authority (PFRDA) has raised the ceiling on fund management charges to reel in more companies in the sector and sustain returns in the long run.

It has already floated a request for proposal (RFP) for pension fund managers. All the existing seven companies as well as new ones can apply.

PFRDA Chairman Supratim Bandyopadhyay told Business Standard that there was no cap on the number of fund managers sending in applications.

Currently, the cap on fund management fee is 1 paise for managing every Rs 100.

There will now be four slabs. The cap for assets under management

Topics : SEBI IRDAI PFRDA New Pension Scheme Pension fund managers pension schemes RBI RPF

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