{"id":66296,"date":"2025-10-08T20:49:13","date_gmt":"2025-10-08T20:49:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/66296\/"},"modified":"2025-10-08T20:49:13","modified_gmt":"2025-10-08T20:49:13","slug":"pfrda-says-max-life-pension-funds-registration-stands-cancelled-heres-how-it-will-impact-funds-nps-subscribers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/66296\/","title":{"rendered":"PFRDA says Max Life Pension Fund’s registration stands cancelled; here’s how it will impact fund’s NPS subscribers"},"content":{"rendered":"

The Pension Fund Regulatory and Development Authority (PFRDA<\/a>) has announced that the Certificate of Registration granted to Max Life Pension Fund<\/a> Management Ltd. stands cancelled with effect from June 2, 2025, in response to the request made by the company in a letter dated December 31, 2024.
Max Life Pension Fund on its website has also announced that it has ceased operations as a Pension Fund Manager (PFM) and Point of Presence (Pop) under the National Pension System<\/a> (NPS).<\/p>\n

The PFRDA notice said, \u201cIn reference to the request submitted by Max Life Pension Fund Management Ltd. through its letter dated 31st December 2024, the Certificate of Registration granted to the said Pension Fund stands cancelled with effect from 2nd June 2025 by the Authority. All subscribers associated with Max Life Pension Fund Management Ltd. have been migrated to other Pension Fund as per defined process, with the option for those subscribers to exercise their own choice of Pension Fund.\u201d<\/p>\n

In a message posted on its website, Max Life Pension Fund said: “Max Life Pension Fund Management Limited (Max Life PFM) has ceased operations as a Pension Fund Manager (PFM) and Point of Presence (POP) under the National Pension System (NPS) due to rebranding by the sponsor company. The company has initiated the steps for voluntary liquidation.\u201d<\/p>\n

What will happen to existing Max Life Pension Fund NPS subscribers\u2019 money?Max Life Pension Fund said that effective April 19, 2025, all NPS pension funds previously managed by Max Life PFM have been transferred to UTI Pension Fund.<\/p>\n

It further said that effective June 21, 2025, all subscribers managed by Max Life PFM as a POP have been transferred to Axis Bank<\/a>.<\/p>\n

Also read: UPS voluntary retirement scheme rules: How your payout will be calculated if you retire after 20 years of service? Know latest rules<\/a><\/p>\n

What is NPS?The National Pension System (NPS) is a long-term retirement savings scheme<\/a> regulated by the Pension Fund Regulatory and Development Authority (PFRDA). Under NPS, investors contribute regularly to build a retirement corpus, which can later be used to provide a stable post-retirement income.
The subscriber can invest in equity, debt and alternative investment options.
The investment options available to NPS subscribers are as follows:
Equity (Scheme E): Investments in the stock market for high returns.
Corporate Bonds (Scheme C): Investments in company-issued bonds for moderate returns.
Government Securities (Scheme G): Investments in government bonds for stable but low-risk returns.
Alternative Assets (Scheme A): Investments in infrastructure and other alternative options.Schemes that have given best returns in 3 years
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When should you consider switching your NPS fund manager?According to the UPI Pension Fund, switching your NPS fund manager might be necessary under certain circumstances:
Performance evaluation: It’s crucial to evaluate the long-term performance metrics of your PFM. If your fund manager consistently underperforms compared to its peers, it may be time to consider a switch.Market changes: Changing market conditions can impact fund performance. A fund manager that performed well in the past may not be as effective in a new economic environment.Change of scheme preference: PFRDA allows subscribers to change their Pension fund manager preference once a year.How to switch your NPS Fund ManagerSwitching your NPS fund manager is a straightforward process that can be done online or Step 1: Log into Your NPS account
Step 2: Go to make transaction > Change PFM \u2013 Asset Class > Select Tier Type > Click on Submit > Select Scheme Preference > Generate OTP, Enter the OTP & Click Submit
Step 3: Confirm the Change: After submitting your request, expect an acknowledgment and allow processing time for the switch to take effect.<\/p>\n

Important FAQs on NPS Fund manager<\/p>\n

How to choose the best NPS fund manager?To choose the best NPS fund manager, look at their past performance, risk level, investment strategy, and reputation. If you want higher returns, pick a fund manager with strong equity investments. If you prefer stability, go for one that focuses on government bonds.Can I change my NPS fund manager?Yes, you can change your NPS fund manager if you are not satisfied with the performance. You can switch once a year for Tier I accounts and multiple times for Tier II accounts.<\/p>\n","protected":false},"excerpt":{"rendered":"The Pension Fund Regulatory and Development Authority (PFRDA) has announced that the Certificate of Registration granted to Max…\n","protected":false},"author":2,"featured_media":66297,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[53592,138,246,53593,9147,111,139,53594,69,244,245,9150,53595],"class_list":{"0":"post-66296","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-axis-bank","9":"tag-business","10":"tag-finance","11":"tag-max-life-pension-fund","12":"tag-national-pension-system","13":"tag-new-zealand","14":"tag-newzealand","15":"tag-nps-fund-subscribers","16":"tag-nz","17":"tag-personal-finance","18":"tag-personalfinance","19":"tag-pfrda","20":"tag-retirement-savings-scheme"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/66296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=66296"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/66296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/66297"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=66296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=66296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=66296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}