Date: 18th October 2012
a) This scheme will be offered by only public sector PFMs, who have obtained registration under the PFRDA (Registration of Pension Funds for Private Sector) Guidelines – 2012.
b) The system of distribution of funds among three PFMs, as at present, will no longer be available for the corporates under CG scheme and the Corporate will have to choose only one PFM offering this scheme.
a) The existing three public sector PFMs (SBI, UTI & LlC) offering CG scheme will introduce the new scheme ‘corporate-CG scheme’ w.e.f. 1st November 2012 with units of face value of Rs.10.00 and an initial NAV of Rs.10.00 per unit. The funds / assets in the existing CG Scheme in respect of Corporates will be transferred to the new scheme and proportionate units in the new CorporateCG Scheme will be allotted.
b) The existing corporates under CG scheme are allowed a time period of 60 days from 1st Nov 2012 i.e. up to 31st December 2012 to choose anyone PFM for shifting their assets. Till such times, the fee chargeable to them will be as applicable to the Central Govt. employees, whereafter charges applicable to Pvt. Sector shall be levied.
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