PPFAS Asset Management has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) today to become a sponsor for a pension fund under the National Pension System (NPS).
The company will soon start managing the retirement savings of people who invest through NPS. It will set up a separate pension fund company that will run the schemes and grow these savings over time, according to a press release.
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“We are honoured to receive this approval from PFRDA. Managing retirement savings is a significant responsibility, and we are committed to handling it with care, discipline, and a long-term approach. Our focus will remain on safeguarding investors’ interests while delivering consistent performance,” said Neil Parag Parikh, Chairman and CEO of PPFAS Asset Management.
The company will now complete the required formalities, including registration and operational setup of the pension fund, before commencing full-scale operations.
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This move is expected to strengthen PPFAS Asset Management’s role in India’s financial ecosystem and contribute to the growth of long-term retirement planning solutions for investors.
PPFAS Asset Management is a Mumbai-based investment management company and part of the PPFAS group, which has a long history in India’s financial services sector. The company was established in 2011 and is promoted by Parag Parikh Financial Advisory Services Ltd., a well-known investment advisory firm founded in 1992.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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