The Pension Fund Regulatory and Development Authority has permitted pension fund managers (PFMs) of the National Pension System (NPS) to charge slightly higher investment management fees. A new slab-wise fee structure which came into force on April 1, can be charged by PFMs to whom fresh certificates of recognition were issued on March 30.
According to a pension fund industry insider, the hike in fee will enhance the viability of the business for PFMs. The earlier fee of 0.01 per cent (1 basis point, or bps) was too low and the players were making losses, said a source. Financial ...
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