Tata Pension Management sponsored by Tata Asset Management has been appointed as a Pension Fund Manager by the Pension Fund Regulatory and Development Authority, for managing the funds under National Pension System.
The ‘Certificate of Commencement of Business as Pension Fund’ was issued by PFRDA in July and the business is now operational from Thursday, said Tata Asset Management.
Prathit Bhobe, Managing Director, Tata Asset Management said the regulator has taken sizeable steps in promoting a pensioned society in India.
Kurian Jose, CEO, Tata Pension Management said the concept of retirement planning is still at a nascent stage and Tata Pension looks forward to contributing towards creating awareness on pension literacy to support citizens to achieve their retirement goals.
In all there are seven pension fund managers including Aditya Birla Sun Life, HDFC Pension Management, ICICI Prudential, Kotak Mahindra Pension, LIC, SBI Pension Fund and UTI Retirement Solutions.