PFRDA to launch pension scheme offering minimum assured returns in FY22

The Pension Fund Regulatory and Development Authority (PFRDA) will rollout a pension scheme that offers minimum assured returns to subscribers in 2021-22, according to Chairman Supratim Bandyopadhyay. The modalities of the scheme will be worked out by March 2021, he added. Additionally, the PFRDA is likely to raise the cap on the fee of pension fund managers from one basis point of assets under management (AUM) at present which will allow more managers to come in.