Overview
- PFRDA’s board approved an in-principle framework allowing Scheduled Commercial Banks to establish pension funds to manage NPS assets.
- Sponsor eligibility will hinge on net worth, market capitalisation and prudential soundness aligned with RBI norms, with detailed criteria to be notified and applied to new and existing funds.
- Dinesh Kumar Khara was appointed chair of the NPS Trust, with Swati Anil Kulkarni and Arvind Gupta named trustees after a formal selection process.
- A slab-based investment management fee takes effect on April 1, 2026, introducing different rates for government and non-government subscribers and counting MSF corpus separately.
- The annual regulatory fee remains 0.015% of AUM, with a portion earmarked for the Association of NPS Intermediaries to support outreach and financial literacy.