The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| E-Paper
Search
+

    Reliance Capital Pension's registration under NPS cancelled: PFRDA

    Synopsis

    With this, the pension fund is no longer available for subscription under NPS. Earlier this year, Reliance Capital had surrendered its NPS licence. It was one of the 8 companies registered under NPS to manage funds from the private sector.

    Getty Images
    ET Calculator Banner
    NEW DELHI: The registration of Reliance Capital Pension Fund under the government's National Pension Scheme (NPS) has been cancelled following a request by the company, sector regulator PFRDA said in a notice.

    With this, the pension fund is no longer available for subscription under NPS, said the Pension Fund Regulatory and Development Authority of India (PFRDA).

    Earlier this year, the company had surrendered its NPS licence.

    It was one of the eight companies registered under NPS to manage funds for subscribers from the private sector.

    "This is to inform to general public that based on the request received from Reliance Capital Pension Fund Ltd, the certificate of registration granted to Reliance Capital Pension Fund Ltd has been cancelled by the Authority and the pension fund is no longer available for subscription under NPS," PFRDA said.

    The other seven funds for private sector subscribers are HDFC Pension Management Co, ICICI Prudential Pension Fund Management Co, Kotak Mahindra Pension Fund, LIC Pension Fund, SBI Pension Funds, UTI Retirement Solutions, and Birla Sunlife Pension Management.

    LIC Pension Fund, UTI Retirement Solutions and SBI Pension Funds manage NPS for the government employees.

    NPS is a pension cum investment scheme launched by the government to provide old age security to the citizens.

    There were about 1.28 NPS subscribers at end-October, 2019.

    Also Read

    1 Comment on this Story

    Karthikeyan Srinivasan310 days ago
    Will whoever subscribed to this exiting RCap gets paid back the sum they paid?
    The Economic Times