Enter Keyword and Search





Saturday, September 01, 2012

New Pension System : Revision of Investment Management Fee (IMF) for Pension Fund Managers for Private Sector NPS

By On September 01, 2012 with 0 Comment
CIRCULAR

PFRDA/CIR/1/PFM/1
Date: 31-08-2012
To,
All Pension Fund Managers,
National Securities Depository Limited
Stock Holding Corporation of India
Bank of India
NPS Trust

Sub: Revision of Investment Management Fee (IMF) for Pension Fund Managers for Private Sector NPS

1. Based on the recommendations of the Expert Committee to determine the Upper ceiling of the Investment Management Fees or other Fees (if any) to be charged by the PFMs in the Private Sector of NPS and with the approval of the Competent Authority, the upper ceiling of the Investment Management Fees has been fixed at 0.25% p.a. of the AUM (Asset Under Management) with effect from 1st November 2012.

2. This is applicable to all schemes for all Private and Corporate Sector subscribers. The PFMs can fix their own Investment Management Fee for different schemes subject to the upper ceiling of 0.25% p.a. This fee is inclusive of brokerage except Custodian charges and applicable taxes.

Reservation in promotion

By On September 01, 2012 with 0 Comment

Reservation in promotion

Minister of Dopt Shri.V.Narayanasamy replied to a question in Rajaya Sabha regarding the reservation policy in promotion on 8th August, 2012. The details was given as written reply that "The Supreme Court in the matter of M.Nagaraj Vs. Union of India has held that the constitutional amendments made to enable the State to provide reservation are constitutionally valid. However, the States have to collect quantifiable data showing backwardness of the class and inadequacy of representation of that class in public employment, keeping in mind maintenance of efficiency of administration, as indicated by Article 335". 


Disclaimer:As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post. All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog. Links to other websites that have been included on this blog are provided for public convenience only. 90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Recent Posts