Sebi to introduce NPS for staff, set up chair at NISM

With an aim to strengthen protection of employees, markets regulator Sebi today decided to introduce a new pension scheme for its permanent staff members.
The Sebi board, which met today, has also approved a proposal for setting up of 'Chair' at the National Institute of Securities Markets (NISM), which will help in increasing awareness among investors.
Currently, the regulator does not have any pension scheme, but offers the facility of provident fund (PF) to its employees.
After the board meeting, the regulator said it will "introduce New Pension Scheme (NPS) for the new employees joining Sebi's service hereafter. Existing employees will have a choice to either continue with the existing Contributory Provident Fund or to join the NPS".

The Pension Fund Regulatory and Development Authority regulates NPS, subscribed by employees of the central government, state governments and employees of private organisations and unorganised sectors. NPS allows employees an additional tax benefit on savings of Rs 50,000 from this year.
The board has approved a proposal "for establishment of up to two 'Sebi Chairs' at NISM by contributing a certain corpus to NISM".

The 'Sebi Chair' would provide research-based policy inputs and help in increasing academic interest and awareness about the activities of the regulator.
The selection of Sebi Chairs would be with Academic Council of NISM.
NISM was set up by the Sebi in 2006 with an objective to educate and train various stakeholders as also to promote research initiatives in the capital market space.

Many institutions, including RBI, has Chairs in premier institutions across the country, which assists parents institute with research works and policy inputs.