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NPS Trust, PFRDA is ready for separation and awaits legislative amendment by Congress

The Pension Fund Regulatory Development Bureau (PFRDA) and the National Pension Program Member (NPS) Trust are preparing for the proposed separation and discussing post-separation areas of business. According to a Zee News report, top executives have informed that amendments to the PFRDA law in Congress are awaiting a final decision on this issue. The legislative amendment is expected to be passed by the current monsoon parliament.

PFRDA President Supratim Bandyopadhyay said racism requires amendments to the PFRDA law. “So far, we’ve allowed people to be hired in trusts. We’re hiring about 14 to 15 people, and in the coming months we’re hiring another five. This will bring the total number of employees to 20. It will be. ” .. ”

“At the same time we were ready to break up, we decided exactly what they would do (NPS Trust) and what the PRFDA would pay attention to,” he added.

Previously, the NPS Trust was in the PFRDA building, but now it has been moved to another building. Bandyopadhyay said a few months ago he had a new CEO overseeing work related to separation.

Treasury Minister Nirmala Sitharaman has announced that the NPS Trust will be separated from the PHRDA, keeping in mind the greater interest of its clients. The trust was established by the PFRDA to maintain assets and funds under the NPS. Proposals to separate the two have been under consideration for the past few years.

NPS Trust, PFRDA is ready for separation and awaits legislative amendment by Congress

Source link NPS Trust, PFRDA is ready for separation and awaits legislative amendment by Congress

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