“Currently, there is a cap of 50 per cent for the private sector and 15 per cent for the government. One thing we are looking at is harmonisation of the government pattern and the private sector pattern. We have taken it up with the government, which is now looking at the proposal. So we will have the same kind of pattern for both the government and the private sector NPS,” he said.
Additionally, the PFRDA is also in talks with the government to allow government servants to decide on their investment portfolio on the lines of that provided to private sector members of the NPS.
, the PFRDA is also considering providing two more default options under the NPS for private citizens. One option would permit allocation of up to 75 per cent of the corpus in equities, whereas the exposure to bonds would be higher in the other.
The expert group was set up in September 2014 to review the investment options for the private sector NPS and it submitted its report to the PFRDA in April year.
Apart from recommendations on addition of new investments, Contractor said that the PFRDA is also reviewing the committee’s suggestions on the asset liability management structure, the method of evaluation of pension fund managers and valuation method for pension funds.
The NPS has cumulative assets under management worth Rs 83,917.12 crore and 91,21,588 subscribers as on April 30, 2015.