PFRDA asks funds to match Rel Cap’s bid for pension corpus

New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) is understood to have asked shortlisted fund managers to match the lowest bid submitted by Reliance Capital Pension Fund for managing pension corpus of non-government employees for a period of five years.           Other nine shortlisted fund managers have been asked to submit bids indicating fund management charges.  If the bid matches that of the lowest bidder, they would be selected to manage the fund, sources said.  In April, PFRDA shortlisted nine fund managers, including LIC Pension Fund, SBI Pension Fund, UTI Retirement, Reliance Capital Pension Fund based on Request for Proposal (RFP) floated in January for managing the funds of private sector NPS.  The total assets under management is about Rs 56,000 crore comprising of both government and non-government employees’ contribution.