Circular PFRDA/CIR/2014/3134 of the Pension Fund Regulatory and Development Authority dated 12th May, 2014 on the management of a pension fund [C13-8ZF]

PFRDA/CIR/2014/3134

Pension Fund Regulatory and Development Authority

New Delhi, dated the 12th May, 2014

CIRCULAR

To

All Recovery Officers,

Subject: The management of a pension fund by pension fund managers under the Pension Fund Regulatory and Development Authority Act, 2013, regarding.

In exercise of the powers conferred by section 9 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Pension Fund Regulatory and Development Authority hereby issues the following

1. References have been received seeking clarification on the manner in which section 9 applies to the management of a pension fund by pension fund managers.

2. The matter has been examined. Every pension fund manager carrying on the management of a pension fund shall make an application in Form 19 to the Controlling Authority within ninety days, accompanied by a fee of two hundred rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the management of a pension fund is undertaken, and the Controlling Authority shall dispose of it within ninety days of its receipt.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Pension Fund Regulatory and Development Authority.

(Chief General Manager)