Section 13(1) in Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015
(1)The Board of Trustees shall exercise the following due diligence, namely:-(a)it shall review the desirability of continuance of the pension fund if substantial irregularities are observed and recommend to the Authority its observations;(b)it shall ensure that the trust property is properly protected, held and administered by the proper persons and by a proper number of such persons;(c)it shall arrange for test checks of operational and service level agreements;(d)it shall immediately report to the Authority of any special developments in the domestic pension fund industry.
