PFRDA doubles minimum net worth for pension fund managers to ₹50 cr
The PFRDA notification also made provision for licenses to have indefinite validity
The Pension Fund Regulatory and Development Authority (PFRDA), the regulator of the National Pension System (NPS), has doubled the minimum net worth criterion for pension fund managers to ₹50 crore from the ₹25 crore stipulated earlier. Existing pension fund managers must comply with this requirement within such time as the PFRDA stipulates. This brings pension funds on par with mutual funds which have to meet a minimum net worth requirement of ₹50 crores, under SEBI rules.