PFRDA | Business Upturn

Bank of Baroda receives appointment to sponsor pension fund

Arunika Jain — Wed, 06 May 2026 07:39:31 +0000

Bank of Baroda has been appointed by the Pension Fund Regulatory and Development Authority (PFRDA) to act as a sponsor for a pension fund, as per the PFRDA (Registration of Pension Funds) Guidelines, 2026. The bank plans to establish a Pension Fund Management Company, subject to obtaining necessary regulatory approvals.

This move marks a significant step for Bank of Baroda as it expands its role in the pension fund sector. The appointment is part of the bank’s strategy to diversify its financial services and enhance its offerings in the pension management domain.

The bank has committed to providing further updates on the development as material progress is made. This disclosure is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates timely updates on significant corporate developments.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

NPS regulation change: PFRDA announces new trail commission standards

Aryan Jakhar — Thu, 01 Sep 2022 06:14:05 +0000

The Pension Fund Regulatory and Development Authority (PFRDA) has permitted trail commission payment through POPs for National Pension System or NPS accountholders in an effort to encourage the Points of Presence (POPs). The pension fund regulator made it clear that trail commission on NPS contributions made through D-Remit by subscribers who were on-boarded by the relevant PoPs will be equivalent to eNPS (another means of online contribution).

Issuing a notification in regard to new NPS rule on trail commission, the PFRDA said, “In order to support the Points of Presence (POPs) for their significant efforts and resources deployed by them for sourcing NPS Accounts and make them sustain their NPS outreach efforts, it has been decided that the trail commission shall be payable to POPs w.e.f. 01.09.2022. The trail commission on contributions made through D-Remit will be similar to eNPS (other mode of Online contribution) by those subscribers who were on-boarded by the respective PoPs. The charge structure for POPs were provided by PFRDA vide its circular dt. 31.01.2022.”

“The trail commission to PoPs for D-Remit Contributions of the associated Subscribers shall be @ 0.20% of the contribution amount (Minimum ₹15 and Maximum ₹10,000) similar to eNPS. The applicable charges would be recovered by unit deduction on periodical basis,” PFRDA added.

The D-Remit (Direct Remittance) feature was made available by PFRDA to subscribers so they could more easily deposit their voluntary contributions by creating a static virtual ID connected to their PRAN and remitting the money from their bank account.

D-Remit was designed as a “subscriber centred measure” that would let people use Net Banking, IMPS, or UPI to deposit money into PRANs from their savings bank accounts. If Trustee Bank receives the contributions before 9.30 AM, the feature will deliver same-day NAV in an effort to maximise investment return. Its simplicity of use, operating convenience, and special ability to set up SI/auto debit, change the auto debit amount, suspend auto debit, etc. have made it very well-liked.

Max Life Insurance’s arm attains PFDRA licence; enters the pension fund management business

Yakita Somani — Fri, 26 Aug 2022 08:17:30 +0000

Max Life Insurance Company announced on Friday that its subsidiary has received a Commencement of Business (COB) certificate from the Pension Fund Regulatory & Development Authority (PFRDA).

The pension assets under the National Pension Scheme will be managed by Max Life Pension Fund Management Limited, a subsidiary of the life insurance company.

The fund manager, which was established with an initial capital of Rs 50 crore, is expected to begin operations in October, according to Max Life managing director and CEO Prashant Tripathy.

He also stated that the CEO of the pension fund arm had been appointed and that other key personnel would be in place soon.

With the exception of the “default scheme,” the Pension Fund will manage pension assets with the aim of growing assets under management (AUM) to Rs 1 lakh crore over the following ten years, he said.

With this development, the business and pension fund will now provide services for all product categories, including annuities, pension products, and pension fund management, to help clients prepare for retirement.

According to him, the Pension Fund is also in the process of applying for a point of presence (POP) registration with pension fund regulator PFRDA in order to provide services that will assist subscribers in opening new NPS accounts.

“Max Life Pension Fund Management Limited expands our presence in the retirement market. We will use our competitive fund management capabilities and Max Life’s distribution strength, including our corporate business teams, to raise awareness about NPS and drive value for our customers “he stated.

The pension fund seeks to maximise risk-adjusted returns for its subscribers on a consistent and long-term basis while adhering to PFRDA guidelines.

SBI adds 8 lakh new subscribers to Atal Pension Yojana in 5 months

News Desk — Thu, 02 Sep 2021 07:46:03 +0000

Around 8 lakh new subscribers have joined Atal Pension Yojana (APY) via the State Bank of India (SBI) throughout 201-22 to date. As per information released by Pension Fund Regulatory and Growth Authority (PFRDA), the variety of APY subscribers crossed the three.30 crore mark by August 25. Public sector banks accounted for the best variety of APY subscribers at over 2.33 crore, as per PFRDA information. It was adopted by regional rural banks (61.32 lakh), non-public banks (20.64 lakh), small finance banks, and fee banks mixed (10.78 lakh), Division of Posts (3.40 lakh), and cooperative banks (84,627).

India’s prime lender is in the top place with 7,99,428 subscribers. This report is from 1 April 2021 to 24 August 2021.

Airtel Funds Financial institution, Canara Financial institution, Financial institution of Baroda adopted SBI with greater than 2 lakh APY enrolments every through the interval.

Union Bank of India, Bank of India, Indian Bank, Central Bank of India, and Punjab National Bank have been among the many high banks, garnering greater than 1 lakh APY enrolments every throughout April 1-August 24, 2021.

Atal Pension Yojana; Eligibility :

Anyone who is between 18 years to 40 years and is a citizen of India is eligible for SBI Atal Pension Yojana. The Atal Pension Scheme offers 5 fastened month-to-month pension choices: ₹1,000, ₹2,000, ₹3,000, ₹4,000, and ₹5,000.

Through SBI one can register for the Atal Pension Yojana both by visiting the department or by a web banking facility.

How to use for APY by SBI web-banking:

Login to your SBI netbanking account.
Click on ‘Social Safety Schemes’.
Select Atal Pension Yojana.
Now, choose the financial savings account quantity that you simply wish to hyperlink with the APY scheme.
As quickly as you click on submit, you get the possibility to pick the Buyer Identification (CIF) quantity.
Select the CIF which is system generated.
Fill within the e-form which is seen in your display.
After filling within the private particulars, you will get the choice of submitting the nominee particulars.
Select the pension particulars like quantity, and contribution period-monthly, quarterly or yearly.
Now by submitting the shape and you can obtain the acknowledgement slip.