Advisory for all the Pension Funds and Custodian regarding investments in Mutual Fund schemes.
PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY B-141A,
Chhatrapati Shivaji Bhawan,
Qutab Institutional Area,
Katwaria Sarai, New Delhi-110016. Ph : 011-26517501
Fax : 011-26517507
Website : www.pfrda.org.in
Advisory
Date 14.02.2017
To,
All Pension Funds,
Subject: – Advisory for all the Pension Funds and Custodian regarding investments in Mutual Fund schemes.
1. PFRDA has appointed SHCIL as custodian of Securities for Custody of the securities pertaining to the funds under management under all schemes of NPS/APY.
2. It is observed that some Pension Funds are not keeping some of the securities particularly mutual fund units with the appointed Custodian.
3. It is advised that all Pension Funds shall maintain the holdings in mutual funds with the appointed Custodian.
4. Pension Funds are further advised to convert the existing holdings of mutual fund units in demat form in coordination with SHCIL under confirmation to the NPS Trust and the Authority.
(Sumeet Kaur Kapoor)
Chief General Manager