Pension Fund Regulatory and Development Authority (PFRDA) has approved a framework to permit scheduled commercial banks to independently set up pension funds and become sponsors managing assets under the National Pension System (NPS). Currently, pension funds under NPS are sponsored by life insurance and mutual fund companies. There are 10 pension fund companies managing NPS assets worth ₹15.95 lakh crore for 2.1 crore subscribers as of November 30, 2025. PFRDA has also revised the investment management fees for pension funds — a tiered annual charge for managing pension funds. It is currently charged based on specific slabs of AUM and ranges between 0.03 per cent to 0.09 per cent.

Source: The Telegraph January 02, 2026 06:27 UTC