Board of pension fund regulator PFRDA has granted ‘in-principle’ approval to a proposal of providing choice to government employees to select their pension fund managers.
Stating this in a written reply in Rajya Sabha on Tuesday, Minister of State for Finance Jayant Sinha said the move would bring parity with other subscribers as the subscribers under the National Pension System (NPS) for the private sector are already enjoying the choice.
Choice of pension funds would create competition amongst the pension funds to compete for the pension corpus and offer better performance or returns to the subscribers.