New Pension Fund Scheme will be launched by PFRDA
The Pension Fund Regulatory and Development Authority (PFRDA) has come up with a pension fund scheme for all those employees who are working in unorganized sectors including retail, textile and mines. This pension fund is expected to be active in the next six months.
For this scheme, the PFRDA has already selected four companies namely Mercer, Ernst & Young, PricewaterhouseCoopers and Crisil, which will help in recruiting the institutional advisor.
The CEO of PFRDA, Mr. N R Rayalu has declared that the authority is in the process of appointing an institutional advisor to advice on the pension scheme. Further four parties have been selected and the advisor will be short listed in 10-15 days. He further added,
This will help PFRDA roll out the scheme for the unorganized sector within a period of six months.
The PFRDA expects to give benefits to many unorganized sector by giving them the privilege of having them the benefits of the pension plans.
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