PFRDA, NPS Trust on the verge of parting ways

The PFRDA and NPS Trust are ready for their proposed separation and have deliberated upon their specific work areas post segregation, and the final go-ahead in the matter is awaited as Parliament has to amend the PFRDA Act, a top official has said.

It is expected that the bill for the amendment in the Act may get passed in the ongoing monsoon session of Parliament. The separation is subject to the approval of the bill for amendment in the PFRDA Act, Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development Authority (PFRDA), told PTI.

"What we have done is that now the Trust is allowed to recruit people. Almost 14-15 people have been recruited by them and in the next couple of months they will recruit 5 more people, taking the total employees count of 20 of their own, which was not there earlier. "So we are ready for the separation. And together, we have decided what are the jobs to be carried out by them (NPS Trust) exclusively and what are the things to be looked into by PFRDA," he said.