With ₹1.44 lakh crore in its kitty, the National Pension System, which the Centre is positioning as the default market-linked pension system for all Indian citizens, is growing in both popularity and size. It is, therefore, good to see the Pension Fund Regulatory and Development Authority (PFRDA) focusing on improving the scheme’s architecture to render it more effective and investor-friendly. The PFRDA is now seeking to appoint ten pension fund managers to manage NPS assets in place of the present eight, and plans to change the selection process to give greater weightage to technical skills and less to costs. These are welcome changes indeed.
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