Corporate pension fund norm within a month: PFRDA

NEW DELHI: Pension regulator PFRDA today said it would announce within a month the guidelines for managing the pension funds of companies.

The Pension Fund Regulatory and Development Authority board met here and approved a proposal to this effect, thereby extending the role of the regulator which currently manages the pension fund of individual employees under the New Pension System.

"For managing corpus of corporates, norms would be announced within a month as it was approved in today's PFRDA board meeting," a Pension Fund Regulatory and Development Authority (PFRDA) official said.

The PFRDA move came after large employers like the State Bank of India and Himachal Road Transport Corporation (HRTC) had approached the regulator to work out a separate guideline for management of their employees' pension funds.

Also, some self-help groups and one or two PSUs had approached PFRDA for the management of their corpus.