NEW DELHI: Pension fund regulator PFRDA has invited bids from financial institutions to manage funds under the New Pension Scheme (NPS) for the next three years beginning April 1, 2012.
The fund managers will be required to manage the pension assets of Central government employees, according to Pension Fund Regulatory and Development Authority (PFRDA).
The three pension fund managers will have to submit bids by March 15, PFRDA said.
At present, pension funds of government employees are managed by three pension fund managers (PFMs)-- LIC Pension Fund, SBI Pension Fund, and UTI Retirement Solutions Ltd. The total corpus of the government employees as on December 2011 was Rs 12,769 crore.
