Pension Fund Regulatory and Development Authority (PFRDA), PFRDA New Pension Scheme
A new Pension Scheme established by the Government under the Pension Fund Regulatory and Development Authority (PFRDA) will help the Citizens with an option of securing their post-retirement life.
The new pension scheme has come in to effect from May 1, 2009. The unique feature of this pension scheme is the flexibility it offers to investors to choose their asset allocation as well as their fund managers.
The new pension scheme has already been made mandatory for the employees of the Central Governmentfrom 2004 and is said to have returned a earned a weighted average of about 14.5 per cent over the last one year. This has been informed by PFRDA/Pension Fund Regulatory and Development Authority.
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