Parag Parikh Financial Advisory Services (PPFAS) Asset Management has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) to act as a sponsor for a pension fund under the National Pension System (NPS).
This approval enables the company to enter the pension fund management segment and manage long-term retirement savings of NPS subscribers through a dedicated pension fund entity. The move marks a significant expansion of PPFAS into India’s growing retirement planning ecosystem.
Key Features of the Development:
Entry into pension fund management sector
Focus on long-term retirement savings
Expansion beyond mutual fund business
Emphasis on investor protection and disciplined investing approach
About NPS:
Launched in 2004 (for government employees), extended to all citizens in 2009
Regulated by Pension Fund Regulatory and Development Authority
Objective: Provide retirement income security
Open to: Government + private sector + unorganised sector
About PFRDA:
Founded: 23 August 2003
Statutory body established under PFRDA Act, 2013
Regulates and develops pension market in India
Chairman: Sivasubramanian Ramann
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