PPFAS Asset Management Approved to Manage Pension Funds Under NPS
PPFAS Asset Management gets approval to sponsor pension funds under NPS
The Economic Times
Image: The Economic Times
PPFAS Asset Management has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) to sponsor pension funds under the National Pension System (NPS) in India. The company plans to establish a separate pension fund company to manage retirement savings, emphasizing a commitment to investor interests and consistent performance.
- 01PPFAS Asset Management will manage pension funds under the NPS.
- 02A separate pension fund company will be established for this purpose.
- 03The approval was granted by the Pension Fund Regulatory and Development Authority (PFRDA).
- 04Neil Parag Parikh, the Chairman and CEO, highlighted the importance of safeguarding investors' interests.
- 05The company will complete registration and operational setup before launching full-scale operations.
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PPFAS Asset Management has been granted approval by the Pension Fund Regulatory and Development Authority (PFRDA) to sponsor pension funds under the National Pension System (NPS) in India. This significant development allows the company to manage retirement savings for investors. Neil Parag Parikh, the Chairman and CEO of PPFAS Asset Management, expressed gratitude for the approval, emphasizing the responsibility of managing retirement funds with care and a long-term focus. The company plans to establish a separate pension fund company to oversee these schemes and will prioritize safeguarding investors' interests while aiming for consistent performance. PPFAS will now proceed with the necessary formalities, including registration and operational setup, before commencing full-scale operations.
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This approval will enable PPFAS to manage retirement savings for individuals, potentially leading to better investment options and growth for their pension funds.
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