Earlier NPS Trust was located in PFRDA building, but now it has been shifted to another building. Now PFRDA and NPS trust are ready to separate.
New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) and the National Pension System Subscribers (NPS) Trust are ready for their proposed separation and have discussed their areas of work after the separation. Giving information, a top official said that the amendment in the PFRDA Act is awaited by the Parliament for the final decision in this matter. It is expected that a bill to amend the law can be passed in the current monsoon session of Parliament.
PFRDA Act will be amended!
PFRDA President Supratim Bandyopadhyay told that amendment in PFRDA Act is necessary for segregation. They have recruited around 14-15 people and in the next few months they will recruit five more. In this way the total number of employees will become 20. “We are ready to part ways, and at the same time, we have decided what specifically is to be done by them (NPS Trust) and what will the PFRDA look after,” he said.
Nirmala Sitharaman announced
Earlier NPS Trust was located in PFRDA building, but now it has been shifted to another building. Bandyopadhyay said he got a new CEO a few months ago and is monitoring the work related to the separation. Finance Minister Nirmala Sitharaman had announced the separation of NPS Trust from PFRDA keeping in mind the wider interest of the customers. The trust was set up by PFRDA for maintenance of assets and funds under NPS. The proposal to separate the two is under consideration for the last few years.
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