Getting ready to kickoff the New Pension Scheme for private citizens in another five weeks, the Pension Fund Regulator and Development Authority has approved 23 points of presence that would collect pension contributions and also sell pension products.
The country’s largest public sector bank—State Bank of India and the biggest life insurer—Life Insurance Corporation of India have been appointed as points of presence for the new pension scheme that is scheduled to be launched from April 1 this year.
All in all 17 banks have been chosen, including SBI and its six associates.
