Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam
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The NPS architecture is transparent and will be web-enabled. It would allow a subscriber to monitor his/her investments and returns under NPS, the choice of Pension Fund Manager and the investment option would also rest with the subscriber.
PFRDA has set up a Trust under the Indian Trusts Act, 1882 to oversee the function of the PFMs.
Fund managers for managing pension corpus of government employees are: LIC Pension Fund Ltd, SBI Pension Funds Pvt. Ltd, UTI Retirement Solution Ltd.
Fund Managers for managing pension corpus of Private sector employees are : LIC Pension Fund Ltd, SBI Pension Funds Pvt. Ltd, UTI Retirement Solutions Ltd, HDFC Pension Management Company Ltd, ICICI Prudential Pensions Funds Management Company Ltd, Kotak Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd, DSP BlackRock Pension Fund Managers Pvt Ltd.
The six fund categories are: Central Government, State government, Swavalamban, Private-Equity, Private-Corporate Debt, Private-Government debt.
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