PPFAS Asset Management Pvt. Ltd, based in Mumbai, has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) to sponsor a pension fund under the National Pension System (NPS). This development allows the company to manage individual retirement savings, with plans to establish a separate pension fund company for this purpose. Neil Parag Parikh, chairman and CEO of PPFAS, emphasized the importance of managing retirement savings responsibly, focusing on investor interests and long-term performance. He noted that recent changes in the NPS framework have made it an attractive option for launching new products. The NPS is designed for disciplined, long-term savings, offering tax benefits such as tax-free withdrawals of up to 60% of the corpus at maturity. PPFAS reported average assets under management of ₹1.5 trillion between January and March 2026, and aims to continue its core investment strategy focused on downside risk protection and reasonable long-term returns.