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NPS Fund Management Fees Falling Expected
Pension Fund Regulatory and Development Authority has decided to re-bid on fund management as two fund houses are adding in the list and subsequently decreasing the management fee.
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- NPS Fund Management Fees Falling Expected
MUMBAI, 10th MARCH 2014: Two more fund houses entered in the management of National Pension System (NPS) corpus resulting in the fall of fun management charges. NPS corpus of around Rs. 40,000 crore is managed by 8 private and three government-owned fund houses. Tata Capital and Aditya Financial Services are the two new fund houses biding for management of the amount.
According to the Pension Fund Regulatory and Development Authority (PFRDA), the current fund managers need to bid again for a license for new NPS fund management in unorganized sectors. The fund management fee was raised to 0.25% from 0.0009% and this is supposed to be fixed again on the basis of competitive bidding.
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Hemant Contractor, MD of SBI is expected to be the chairman of PFRDA after clearance from the Central Vigilance Commission. According to the private sector fund house, 10 groups have applied out of which 8 would be given the license. The current eight fund managers are – HDFC Pension Management Company, Kotak Mahindra Pension Fund, DSP BlackRock Pension Fund Managers, UTI Retirement Solutions, Reliance Capital Pension Fund, ICICI Prudential Pension Funds Management Company, SBI Pension Funds, LIC Pension Funds and UTI Retirement Solutions.
The recent National Pension System gave a return of around 12-14% during 2012-13 with 55 lakh subscribers and total amount of Rs. 40,000 crore. It had begun as the pension scheme for unorganized sector in 2004. Later the government decided to move all the employees under the NPS.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.