• Pension Fund Regulatory Development Authority (PFRDA) is likely to allocate Rsised Amount upto Rs 4,100 crore

    The Pension Fund Regulatory Development Authority (PFRDA) is likely to allocate Rs 4,100 crore in 2010-11 among the three pension managers, State Bank of India, UTI Mutual Fund and LIC Mutual Fund. Last year, the regulator had allocated Rs 3,700 crore.
    The corpus would mainly be the contribution of central and state government employees. At present, 25 states have signed up for the new pension scheme (NPS).
    The NPS’ board of trustees  decided to review the allocation formula. The allocations will be decided on the basis of the managers’ performance over the past year. According to PFRDA’s website, SBI’s pension fund had the highest net asset value (NAV) under central government schemes. As on April 23, SBI pension fund had an NAV of Rs 12.82 for central government employees, while UTI Retirement Solutions posted an NAV of Rs 12.38. LIC Pension Fund’s NAV was Rs 12.41.

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