PFRDA Reforms NPS: Here’s what new sponsors and fee changes mean for your pension

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The new policy also comes with a very specific set of requirements for the banks, which comprises their net worth, market capitalisation and compliance with RBI guidelines in terms of financial stability, thus making it certain that only the most financially strong and less risky banks will be allowed to set up Pension Funds. The comprehensive criteria will be published in a separate notification and will be applicable to both new and existing funds.