NPS Belief is an middleman below NPS structure.
The PFRDA in its capability as a settlor, established the Nationwide Pension System Belief (NPS Belief) being the board of trustees who’re the authorized proprietor of the funds of the subscribers below NPS and sure different pension schemes.
The pension fund regulator stated the trustees are eligible to obtain sitting charges and such different bills in direction of travelling, lodging and boarding amongst others as decided by the Authority now and again.
The utmost age restrict, past which a trustee shall not work, is 70 years, the PFRDA stated.
As per the rules, there’s a provision for the appointment of a most of 11 trustees, suitably certified with enough schooling in regulation or finance or economics or accountancy or social welfare or administration with confirmed administration talent, expertise, capability, integrity and fame.
The property below administration within the title of the Belief as of March 31, 2022, are Rs 7.36 lakh crore with a 5.20 crore subscriber base.
The PFRDA has two flagship pension schemes– NPS and Atal Pension Yojana (APY). NPS primarily caters to the organised sector staff, together with the central and state governments.
APY is supposed to offer social safety advantages in outdated age to those that are employed within the unorganised sector.