In order to increase the footprint of the National Pension System (NPS), the sector regulator, Pension Fund Regulatory Authority of India (PFRDA), notified rules on retirement advisers last month. A retirement adviser can be an individual, firm, corporate body, registered trust or a society wanting to help potential subscribers open an NPS account or give advisory services to existing subscribers.
The concept of dedicated advisers for the pension sector was stressed on by the Bajpai committee that was set up to review investment guidelines of the NPS. The committee felt it was necessary that analysts tracked the performance of pension funds.
