The Pension Fund Regulatory and Development Authority (PFRDA) has notified amendments to regulations to National Pension System Trust and Pension Fund. The amendments to NPS Trust Regulations simplify the provisions related to appointment of trustees, their terms and conditions, holding of meetings of the Board of Trustees, and appointment of CEO — NPS Trust, PFRDA said in a statement on Wednesday.
Amendments to Pension Fund Regulations simplify the provisions related to governance of pension funds in line with Companies Act, 2013 and enhanced disclosure by pension funds, it said.
Both amendments were carried earlier this month and these are in line with the 2023-24 Union Budget announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business. The other notable amendments include clarity of roles of sponsor of pension fund and constitution.
Amendments to Pension Fund Regulations simplify the provisions related to governance of pension funds in line with Companies Act, 2013 and enhanced disclosure by pension funds, it said.
Both amendments were carried earlier this month and these are in line with the 2023-24 Union Budget announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business. The other notable amendments include clarity of roles of sponsor of pension fund and constitution.
