Reliance Capital Pension’s registration under NPS cancelled: PFRDA

By: |
New Delhi | Published: November 19, 2019 2:14:23 PM

With this, the pension fund is no longer available for subscription under NPS, said the Pension Fund Regulatory and Development Authority of India (PFRDA).

Reliance Capital Pension, reliance pension registration, NPS, PFRDA, Reliance Capital Pension registration cancelledNPS is a pension cum investment scheme launched by the government to provide old age security to the citizens.

The registration of Reliance Capital Pension Fund under the government’s National Pension System (NPS) has been cancelled following a request by the company, sector regulator PFRDA said in a notice. With this, the pension fund is no longer available for subscription under NPS, said the Pension Fund Regulatory and Development Authority of India (PFRDA).

Earlier this year, the company had surrendered its NPS licence. It was one of the eight companies registered under NPS to manage funds for subscribers from the private sector. “This is to inform to general public that based on the request received from Reliance Capital Pension Fund Ltd, the certificate of registration granted to Reliance Capital Pension Fund Ltd has been cancelled by the Authority and the pension fund is no longer available for subscription under NPS,” PFRDA said.

ALSO READ | Commercial, retail real estate on strong footing even as housing segment faces challenging times

The other seven funds for private sector subscribers are HDFC Pension Management Co, ICICI Prudential Pension Fund Management Co, Kotak Mahindra Pension Fund, LIC Pension Fund, SBI Pension Funds, UTI Retirement Solutions, and Birla Sunlife Pension Management.

LIC Pension Fund, UTI Retirement Solutions and SBI Pension Funds manage NPS for the government employees. NPS is a pension cum investment scheme launched by the government to provide old age security to the citizens. There were about 1.28 NPS subscriber at end-October, 2019.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Does your Will mention a guardian for your minor child?
2Term insurance cover must be equal to total income of 10-15 years
3Financial planning: Investment options for securing your kid’s future