- The equity allocation standards were revised by the PFRDA for Tier-I and Tier-II accounts under the New Pension Scheme (NPS).
- The new regulations were issued by the PFRDA in accordance with Section 14 and Section 23 of the PFRDA Act 2013 and Regulation 14 of the PFRDA (Pension Fund) Regulations 2015.
- As per the new regulation, 75% of funds can be allocated by the subscribers from the age of 51 years to Equity (E) under the active choice of Tier-I account.
- Additionally, 100% of subscriber contributions will be allocated to Asset Class Equity (E) by the PFRDA in the Tier-II or optional account under the active choice.
- The PFRDA is a Government of India-owned pension regulatory body that was established in 2003 with its headquarters in New Delhi. The current Chairperson of the PFRDA is Supratim Bandyopadhyay.
Question:
Q.1 The PFRDA revised equity allocation standards for accounts under the?a. New Pension Scheme
b. Old Pension Scheme
c. Both A&B
d. None
