The Pension Fund Regulatory and Development Authority (PFRDA) on July 29, 2020, has issued the Pension Fund Regulatory and Development Authority (National Pension System Trust) (Second Amendment) Regulations, 2020 to further amend the Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015.
The amendments are made in Regulation 5(4) related to “Eligibility for appointment as trustees” stating that the no person who is appointed as a trustee of the Board of Trustees of the National Pension System Trust shall be eligible to be appointed as a trustee of any other pension trust, or as a director of any of the intermediaries registered with the Authority or its sponsor.
Provided that this restriction shall not be applicable to the Trustees appointed by Government of India or those appointed by any of the State Governments.
[Notification No. PFRDA/12/RGL/139/5]
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