The National Pension Scheme’s pension assets will be managed by Max Life Pension Fund Management Limited, a fully owned subsidiary of Max Life Insurance Company (NPS). The Commencement of Business (COB) certificate for this has been given to the pension fund.
To increase assets under management (AUM) to an estimated $1 trillion over the following ten years, Max Life Pension Fund will manage pension funds for subscribers in the commercial and public sectors that are not part of the “default scheme.”
In order to assist customers in planning their retirement, the business and the pension fund will now provide services for all product categories, including pension products, annuities, and pension fund management. In order to provide services that will assist customers in opening new NPS accounts, it is also in the process of submitting an application for a point of presence registration with the Pension Fund Regulatory and Development Authority (PFRDA).
Max Life Pension Fund Management Limited expands our footprint in the retirement segment, according to Prashant Tripathy, MD & CEO of Max Life. We are devoted to providing for the financial security of Indians in their senior years.
To raise NPS awareness and provide value for our customers, we will use our competitive fund management capabilities and Max Life’s distribution strength, including our corporate business teams, individual advisors, and direct sales teams.