Finance Ministry may allow 5 private funds to manage govt staff pension

The Finance Ministry is considering a proposal to allow five private fund managers to manage pension corpus of government employees.

"We have received representation from Pension Fund and Regulatory Development Authority (PFRDA) that the Government employees should have same choices of pension fund managers as is available to non-government subscribers," a source said.

The Ministry is considering this proposal as there is no reason to deprive the government employees of the same choices both regarding pension fund managers and also the choice of investment pattern as is available to their private sector counterparts, sources added. Read more