BUSINESS

NPS: minimum assured return scheme on the cards

Pension Fund Regulatory and Development Authority (PFRDA) is working on a minimum assured return scheme (MARS) for subscribers of the National Pension System (NPS).

The regulator is in the process of designing and developing MARS, according to a PFRDA document.

Some aspects, including what kind of guarantee — absolute return guarantees or relative rate of return guarantees (sector and benchmark-based) — can be reasonably provided by the pension funds with recommendation of suitable proposals, need to be examined, the PFRDA said in the expression of interest.