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VIA-SATIRUR
Friday, 13 July 2012
PFRDA ISSUES REVISED SET OF GUIDELINES FOR REGISTRATION OF PENSION FUND MANAGERS TO MANAGE NATIONAL PENSION SYSTEM FOR THE NON-GOVERNMENT AND PRIVATE SECTOR
The Pension Fund Regulatory and Development Authority (PFRDA) today issued a revised set of guidelines for registration of Pension Fund Managers (PFMs) to manage the National Pension System (NPS) for the non-government and private sector.
The revised guidelines, available on PFRDA’s website www.pfrda.org.in, have done away with the earlier bidding process, wherein a pre-determined number of slots were bid for by the PFMs, and the fees charged by them for managing the pension funds had to be uniform for all players. The earlier process has now been replaced by a system which lays down the eligibility criteria for registration as PFMs, and all interested players desiring to enter the pension industry, can register as PFMs subject to their fulfilling the eligibility criteria. There is no limitation on the number of PFMs. Further, the PFMs are now allowed to prescribe their own fee charges, subject to an overall ceiling to be laid down by PFRDA. It is expected that this would provide for an economically viable business model for the PFMs attracting a fresh set of entrants into the pension industry, and the resultant competition would ensure market driven fee structures, which would work to the advantage of the pension subscribers.
The PFMs would also be expected to market the National Pension System (NPS) to the potential subscribers, deciding their own marketing and distribution channels as per their business perceptions.
It may be recalled that the NPS has not achieved any significant progress in the private sector, despite passage of considerable time, and these guidelines have been awaited by the industry for quite some time. The changes are as per the recommendations of the Bajpai Committee, set up by PFRDA to go into the reasons for the slow progress of NPS in the private sector. The final guidelines have been issued subsequent to intensive discussions with all stakeholders, including existing and potential Pension Fund Managers as also suggestions received from pension subscribers.
Press Information Bureau Government of India Ministry of Finance 12-July-2012 18:10 IST
MTS --RECRUITMENT RULES, 2010 & RECRUITMENT (AMENDED) RULES, 2012 -- A COMPARITIVE LOOK
| RECRUITMENT RULES, 2010 | RECRUITMENT(AMENDMEN)RULES,2012 |
| 1.(1) These may be called the Department of Posts Multi Tasking Staff Recruitment Rules, 2010. 2.They shall come in to force on the date of their publication in the Official Gazette. | 1.(1)These may be called the Department of Posts Multi Tasking Staff Recruitment (Amendment) Rules, 2012. 2.They shall come in to force on the date of their publication in the Official Gazette. |
| | 2.In the Schedule to the Department of Multi Tasking Staff Recruitment Rules, 2010 - |
| Serial No.1 Column No.7 18-27 years (Relaxable for Government Servants up to 35 years for candidates Castes / Scheduled Tribes up to five years and for candidates belonging to Other Backward belonging to Other Backward Classes up to three years in accordance with the instructions issued by the Govt. of India. Note 1: The crucial date for determining the age-limit shall be the closing date for receipt of applications from candidates in India (and not the closing date prescribed for those in Assam, Meghalaya, Arunachal Pradesh, Mizoram, Manipur, Nagaland, Tripura, Sikkim, Ladakah Division of Chamba district of Himachal Pradesh, Andaman and Nicobar Ilsands or Lakshadweep). Note 2: In the case of recruitment made through the Employment Exchange, the crucial date for determining the age limit shall be the last date up to which the Employment Exchange is asked to submit the names. | (i)against serial number 1 relating to the post of Multi Tasking Staff, in column 7, in the entry, in “Note 1” after the words “Lakakh Division of”, the words “Jammu and Kashmir State, Lahaul and Spiti District and Pangi Sub-Division of” shall be inserted; |
| Serial No.2 Column No.8 Matriculation or Equivalent or ITI from recognized Boards. Not applicable in the case of Gramin Dak Sewaks. If the Gramin Dak Sewak selected for appointment by direct recruitment is non Matriculate, he shall be given training before he is appointed. In case a Casual Labourer to be appointed as Multi Tasking Staff is non Matriculate he shall be given training before he is appointed. | (ii)against Serial number 2 relating to the post of Multi Tasking Staff,-- (a)in column (8), in the entry, after the word “Matriculation”, the words “or Equivalent” shall be omitted; |
| Serial No.2 Column No.11 (i)50%by direct recruitment from amongst Gamin Dak Sewaks* of recruiting and Division or Unit, on the basis of Selection-cum-seniority; *Gramin Dak Sewaks are holders of civil posts but they are outside the regular civil service due to which their appointment will be by direct recruitment. (ii)(a)25% by direct recruitment on the basis of Competitive Examination restricted to the Gramin Dak Sewaks of the Division or Unit, failing which by; (b)direct recruitment from amongst Gramin Dak Sewaks of the recruiting Division or Unit on the basis of selection-cum-seniority; (iii)(a)25% by appointment of Casual Labourers conferred with temporary status on the basis of selection-cum-seniority failing which by; (b)appointment of Casual Labourers engaged on or before 1-9-1993; working for eight full hours in a day, on the basis of selection-cum-seniority failing which by; (c)appointment of Casual Labourers conferred with temporary status in the neighboring Division or Unit on the basis of selection –cum-seniority, failing which by; (d)appointment of Casual Labourers engaged on or before 1-9-1993 working for eight full hours in a day in the neighboring Division or Unit; on the basis of selection-cum-seniority, failing which by; (e)appointment of part time Casual Labourers engaged on or before 1-9-1993 of the recruiting Division or Unit on the basis of selection-cum-seniority failing which by; (f)by direct recruitment from amongst Gramin Dak Sevaks on the basis of their seniority in the Division or Unit. Failing (i), (ii) and (iii) above by direct recruitment from open market. (If there are more than one neighboring Division or Unit, the senior most Casual Labourer of that status amongst them shall be appointed) Explanation:-- 1.For Postal Division or Unit, the neighboring Division of Unit as the case may be, shall be the Railway Mail Service Sub Division and vice-versa. 2.The above mentioned examination shall be governed by the instructions issued by the Department of Posts regarding the short listing criteria of the applicants from open market, syllabus and pattern of the test, etc., from time to time. | (b) in column (11), the entry,-- (A) in clause(i) for the figures “50%”, the figures “25%” shall be substituted; (B) after clause (iii), the following clause shall be inserted, namely – “(iv) 25% by direct recruitment from open market” |
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