NPS: Choose Pension Fund Managers, Equity Allocation Options, Other Features
NPS corporate sector model was launched in December 2011 There are two kinds of NPS accounts: Tier 1 and Tier 2 NPS subscriber can choose a pension fund manager
To secure an individual and their family's future, it is often advised to take a pension savings plan. Among several such pension savings plans in the market, the National Pension System (NPS) is considered credible and safe as it's offered by the government agency PFRDA (Pension Fund Regulatory and Development Authority). From May 2009, the national pension system (NPS) was made available to all citizens and the corporate sector model was launched in December 2011. Notwithstanding the model one chooses, the subscribers have an array of pension funds managers (PFMs) to choose from: These are SBI Pension Funds, LIC Pension Fund, UTI Retirement Solutions, ICICI Prudential Pension Funds Management Company, Kotak Mahindra Pension, Reliance Capital Pension Fund. The PFMs tend to release daily NAVs (net asset values) to ensure subscriber can take informed decisions. The corporate subscriber can join the NPS through any of the existing POP (point of presence). The POP will be the interface between the corporate/ subscribers and the NPS architecture.