Section 9 in Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015
9. Objectives of National Pension System Trust.
(1)The National Pension System Trust is established for taking care of the assets and funds under the National Pension System in the interest of the subscribers and monitoring and evaluation of all operational and Service level activities under the National Pension System. The Authority may by issuance of appropriate guidelines direct that the National Pension System Trust shall have such other powers and duties in relation to any other pension scheme, referred to in clause(b) of sub-section (1) of section 12 of the Act, as may, in the interest of subscribers, be deemed necessary.(2)The securities purchased by each pension fund on behalf of, and in the name of the National Pension System Trust must be held in the custodial account of the National Pension System Trust.(3)Individual National Pension System subscribers shall be the beneficial owners of the National Pension System assets purchased using contribution made by the National Pension System subscribers.(4)The assets shall comprise cash, securities and any other instruments as specified in the investment guidelines issued by the Authority and held in the name of the National Pension System Trust on behalf of the subscribers.
