Section 27 of The Unified Pension Scheme: Pension Fund
Pension Fund Unified Pension Scheme
27. Pension Fund. – (1) The pension fund undertaking the activities under UPS shall comply with the terms and conditions
of registration as provided under the Pension Fund Regulatory and Development Authority (Pension Fund) Regulations,
2015.
(2) The pension fund shall perform its roles and responsibilities as provided under Chapter III and Chapter IV of Pension
Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015, as if the reference to “National Pension
System” in such regulations shall extend to “Unified Pension Scheme” option under NPS, as well.
(3) The obligations of the management of pension fund, compliance officer and key personnel arising under Pension Fund
Regulatory and Development Authority (Pension Fund) Regulations, 2015 shall ipso facto extend to activities under UPS,
as provided under these regulations.
(4) The pension fund shall abide by the provisions of Schedule VI of the Pension Fund Regulatory and Development
Authority (Pension Fund) Regulations, 2015 with such modifications as are required to undertake its activities under UPS.
(5) The pension fund shall undertake activities for implementation of UPS, including:
(i) maintenance of separate scheme and books of account for UPS;
(ii)executing assured pay out from pool corpus based on instructions from CRA;
(iii) liquidity management of Pool Corpus;
(iv) managing the Pool Corpus with the portfolio objective; and
(v) any other functions and activities instructed by the Authority.