Revision in Annual Fee paid by Pension Funds under PFRDA (Pension Fund) Regulations, 2015 and subsequent amedments thereto

m AA ~~ fflq;rn >\i- 14/ \!, l}"';l'CIFci 11, Fl. '!ill' I "ffil'.!ffRI a\'51. <nc<1lft,11 lRTll, "TT) f<:~- 110016 ?."!'IIJ'l : 011 -26517501, 26517503, 26133730 tRl : 011 -26517507 it,Hn{c : www.pfrda.org.ln PFRDA/2020/53/REG-PF/9 CIRCULAR To • CEOs of All Pension Funds Dear Sir/Madam, PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY 8-14/A, Chhalrapatl Shlvajl Bhawan, Qulub lnstllutlonal Area, Kalwarla Sarai, New Delhl-110016 Ph : 01 1-26517501, 26517503, 26133730 Fax : 01 1-26517507 Website : www.pfrda.org.ln Date: 23 rd December, 2020 SUBJECT: Revision in Annual Fee paid by Pension Funds under PFRDA (Pension Fund) Regulations, 2015 and subsequent amendments thereto. The Authority, vide PFRDA (Pension Fund) (Second Amendment) Regulations, 2020, notified on 5th February, 2020, has amended Regulation 9 to provide for issuance of certificate of registration to a Pension Fund , which shall remain valid unless suspended or cancelled by the Authority. 2. The Authority in near future is planning to initiate the process to register Pension Funds under Regulation 4 read in conjunction with Regulation 9. 3. In view of the above, for newly registered Pension Funds under Regulation 9, the Annual Fee shall be revised as under: "0.015% of Assets under Management or Rs.10,00,0001- per annum (Rs. 2, 50, 000/- per quarter or part thereof), whichever is higher" 4. The Annual Fee shall be paid by Pension Funds on quarterly basis by 10 th day of subsequent month of each quarter or within ten days of grant of Certificate of Registration. The amount of the Assets under Management shall be considered as on last day of preceding quarter. 5. All the Pension funds are called upon to note the proposed changes as aforementioned, which may apply in respect of such Pension Funds who may get registered consequent to fresh selection process. 6. This circular is issued in exercise of powers of the Authority under Section 14 (1) and Section 14 (2) (m) of the PFRDA Act, 2013. Yours sincerely, /'r'r _ __,? (A. G.Das) Executive Director