STARTUPS EEILING The investment funds of the National Pension System (NPS) will have to wait longer than the regulatory authority for the regulatory and development of the pension (PFRRA) does not immediately seek to allow funding funds of the funds of pension.
SUPRARTIM BANDYOPADHYAY, President, PFRDA stated at a virtual address that if the proposal is not completely off the table, there are problems related to the valuation to be studied.
These are reports that the government is in talks with the India Life Insurance Corporation (LIC) and the Organization of Employee Pension Funds (EPFO) to set up a fund for startups.
“In our sector, pension funds report daily the value of net assets. This is not true for EPFO and the LIC. We will have to examine the valuation of these startups, then make a call,” A- he added.
The NPS has crossed an important step of 3 million subscribers in private sectors (corporate clients and retail buyers) on August 14th.
“It’s a big point of reference for us. We see business subscribers’ growth as well as entrances that affected 97,000 RS crore,” he added.
The business sector had 2,41,000 clients in mid-August (FY22), compared with 1 60,000 last year.
Assets under management (AM) under the NPS private sector grew by 48.2% to 97,314 crore in mid-August.
Here, 546 new companies have already adopted NPS in fiscal 20022 and total number of companies registered as of 7 August 2021 reached 9,126.
On the equity side, Bandyopadhyay added that returns stood at 12.94% over 12 years.
With regard to the new pension fund managers, the President of the PFRDA stated that the Axis Mutual Fund, which was to be added as head of the private sector pension fund, expects RBI approval. PFRDA also allowed to select PFMS.
As of August 14, the total number of subscribers under the various PFRDA regimes is 4.48 crore and the total asset under management (AM) is 6.37 Core of LAKH.