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Axis group has forayed into pension business fund. The company has received PFRDA’s go ahead to launch NPS.
In a press release, Amitabh Chaudhry, MD&CEO, Axis Bank said, “With the launch of Axis Pension Fund, we are strengthening our presence in the retirement solutions segment. By capitalizing on the investment management capabilities and distribution strength of Axis Group, we believe that Axis Pension Fund will soon realise its vision of being one of the most preferred retirement solution providers in the industry.”
Sumit Shukla, MD&CEO, Axis Pension Fund said, “The concept of retirement planning is still at a very nascent stage in India. We want all the citizens in India to build their retirement wealth with NPS and enjoy regular income through annuity post superannuation for a secured retired life. With a little retirement planning, citizens can continue to live with freedom while maintaining financial independence during their second innings of life.”
In August, Tata Group has also started its pension fund business.