Section 28 of The Unified Pension Scheme: Trustee Bank
Trustee Bank Unified Pension Scheme
28. Trustee Bank. – (1) The trustee bank undertaking the activities under UPS shall comply with the terms and conditions
of registration as provided under the Pension Fund Regulatory and Development Authority (Trustee Bank) Regulations,
2015, including the code of conduct and fit and proper criteria.
(2) The trustee bank shall perform its roles and responsibilities as provided under Chapter III of Pension Fund Regulatory
and Development Authority (Trustee Bank) 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 the trustee bank, compliance officer and principal officer, appointed by Trustee
Bank, arising under Pension Fund Regulatory and Development Authority (Trustee Bank) Regulations, 2015 shall ipso
facto extend to activities under UPS, as provided under these regulations.
(4) The trustee bank shall abide by its obligation pertaining to infrastructure requirements with such modifications as are
required to undertake its activities under UPS.