Section 11(1) in Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015
(1)Subject to the provisions of the Act and these regulations, the Board of Trustees of the National Pension System Trust shall have the legal ownership of the trust and the funds, and that the general superintendence, direction and management of the affairs of the trust, and all powers, authorities and discretions appurtenant to or incidental to the purpose of the trust shall absolutely vest in the Board of Trustees:Provided that the beneficial interest shall always vest with the beneficiaries of the National Pension System Trust.
