Shriram Life gets PFRDA nod to become annuity service provider1 min read 17 Nov 2022, 10:42 AM IST
The PFRDA certification will help SLIC garner more NPS subscribers under its annuity plan. With close to 1.5 crore subscribers under NPS and an AUM of more than ₹7 trillion, SLIC’s empanelment as ASP will help it mobilise 40% of the NPS maturity amount which will be open to investment in annuity schemes.
NEW DELHI: Shriram Life Insurance Company (SLIC) is empanelled as an Annuity Service Provider by the Pension Fund Regulatory Development Authority (PFRDA). The empanelment will help the insurance major manage the annuity component of the maturity proceeds under the National Pension System (NPS).
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