The Pension Fund Regulatory and Development Authority (PFRDA) has revised rules for the Corporate National Pension System (NPS), aiming to bring more clarity on how employers and employees decide pension fund managers and investment choices.

Under the updated framework, employers and employees in joint-contribution setups must now take all decisions on pension fund selection and asset allocation through a formal mutual agreement.

This applies to cases where both contribute, the employer contributes higher amounts, or only the employer contributes.

PFRDA has also mandated annual reviews of the initially chosen pension fund. Any switch must follow conditions outlined in the mutual agreement, with an emphasis on NPS’s long-term nature.

Employers are expected to evaluate long-horizon perf

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