Panchkula, Aug. 31 -- The Pension Fund Regulatory and Development Authority (PFRDA) has told pension funds to reorganise and rename some schemes under the National Pension System within 30 days, as it works to put a standardised system in place for how these schemes are classified and presented.
According to the instructions, current Multiple Scheme Framework (MSF) schemes that invest in more than one set category must be changed or reorganised to fit into just one category. Pension funds must finish this task and send the updated details to PFRDA within 30 days from August 28, when the circular was issued. Existing MSF schemes must also be renamed within the same 30-day period, in accordance with the naming rules set by the new system.
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