PFRDA to finalise guaranteed plan with minimum return by FY21 end

Regulator to raise cap on fee of fund managers; AUM of pension funds increases by 35% to Rs 5.5 trillion

The pension fund regulator will finalise a guaranteed product, which will assure minimum return, by the end of this financial year.  Besides, it is likely to raise the cap on the fee of pension fund managers from one basis point of asset under management (AUM) at present which will allow more managers to come in. 

"We are forming a committee very shortly. During this financial year we will formulate a product and then we will give it to the board for approval and then launch it," Pension Fund Regulatory and Development Authority (PFRDA) chairman Supratim Bandyopadhyay told reporters through a