137th Day Of Lockdown

Maharashtra49026232728117092 Tamil Nadu2850242275754690 Andhra Pradesh2069601204641842 Karnataka164924842322998 Delhi1427231282324082 Uttar Pradesh113378668341981 West Bengal89666630601954 Bihar7179446294400 Gujarat68855517922604 Assam5549737225132 Rajasthan4941835186763 Odisha4255028698292 Haryana4005433444467 Madhya Pradesh3729827621962 Kerala3170019147103 Jammu and Kashmir2392716218449 Punjab2193014040539 Jharkhand165427503154 Chhatisgarh11408831987 Uttarakhand89015731112 Goa7947559570 Telangana751354330615 Tripura6014408437 Puducherry5123291475 Manipur3466192610 Himachal Pradesh3206200813 Nagaland26578247 Arunachal Pradesh204913263 Chandigarh137482023 Meghalaya10234236 Sikkim8544061 Mizoram5672890
Business Other News 09 Jul 2019 NPS Trust to hire co ...

NPS Trust to hire consultant for performance review of PFs, portfolio analysis

PTI
Published Jul 9, 2019, 2:51 pm IST
Updated Jul 9, 2019, 2:51 pm IST
The last date for submission of interest under of the proposal is July 24, 2019.
BRC will also be tasked to analyse rating distribution of the securities under NPS schemes as well as to identify fund's credit quality and risks of a portfolio.
 BRC will also be tasked to analyse rating distribution of the securities under NPS schemes as well as to identify fund's credit quality and risks of a portfolio.

New Delhi: The NPS Trust will rope-in business consultants to conduct a performance review of pension funds as well as portfolio analysis of schemes under the National Pension System.

The NPS Trust was established by the Pension Fund Regulatory and Development Authority (PFRDA) for taking care of assets and funds under the NPS in the interest of the subscribers.

 

In a request for proposal, the NPS Trust said it wants to appoint Business Review Consultant (BRC) to review the existing format for performance review of the pensions funds (PFs), review the performance of the PFs at prescribed intervals and to undertake their portfolio analysis.

"The appointed BRC will be required to undertake portfolio analysis of all schemes of NPS on quarterly basis and submit report to NPS Trust. The analysis shall identify the key portfolio risks.

"The report shall highlight the stressed sectors and companies analyzing the existing market conditions," the NPS Trust said.

 

The Trust said the appointed BRC should complete the review of the current formants of the PFs and scheme-wise evaluation under the NPS within two months.

Among others, the BRC will also be tasked to analyse rating distribution of the securities under NPS schemes as well as to identify fund's credit quality and risks of a portfolio.

Pension Fund is appointed by PFRDA to manage pension contribution of all subscribers under NPS through various schemes.

There are in total eight fund managers engaged by the PFRDA: HDFC Pension Management, ICICI Prudential Pension Fund Management, Kotak Mahindra Pension Fund, LIC Pension Fund, Reliance Capital Pension Fund, SBI Pension Funds, UTI Retirement Solutions and Birla Sunlife Pension Management.

 

The last date for submission of interest under of the proposal is July 24, 2019.

The pension scheme came to effect from 1 January 2004 and in the initial phase covered new entrants to the central government services, excluding armed forces.

However, the NPS is now applicable on employees of majority of state governments, central autonomous bodies and some state autonomous bodies.

The scheme was extended to all other citizens of India between the age of 18-65 years on voluntary basis from May 2009. Private companies are also allowed enrol their employees under NPS either on mandatory or voluntary basis.

 

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT