In exercise of the powers conferred by sub section 1 of section 52 read with clauses

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-07032024-252576 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 131] NEW DELHI, WEDNESDAY, FEBRUARY 28, 2024/PHALGUNA 9, 1945 1379 GI/2024 (1) 2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] I. PART B of Schedule III (Fees payable under the regulations) of the principal regulations shall be substituted as follows: "PART B I. For the purpose of this part, the expression 'assets under management' shall mean the value of the assets held by the pension fund as disclosed by it under sub-paragraph III of Part B below. II. The fees specified in part A shall be payable by demand draft or bankers cheque in favour of “Pension Fund Regulatory and Development Authority" payable at New Delhi or through electronic transfer in the designated bank account of PFRDA. III. A pension fund shall pay pro rata annual fee on quarterly basis, if the business is done for a part of the year. The payment of annual fee shall be accompanied by a statement of assets under management which shall be in such format as may be determined by the Authority and shall be certified to be true and complete by the functional head of the pension fund. IV. The Authority reserves the right to amend all or any of the fees from time to time." II. Schedule V (Reports and Disclosure) of the principal regulations shall be substituted as follows: "SCHEDULE V PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (PENSION FUND) REGULATIONS, 2015 [See regulations 9A(1)(i) and 22(8)] REPORTS AND DISCLOSURE 1. Reporting to NPS Trust, PFRDA, CRA and Other Parties The pension fund shall furnish periodic reports as well as such information and documents as may be determined by the Authority to be submitted to National Pension System Trust and the central recordkeeping agency. This shall include, but shall not be limited to the following:- (a) Indicative Reports to National Pension System Trust Reports must be provided in writing/electronic form for each successive period by delivery to the office of National Pension System Trust, within ten days of the end of the period in the case of a monthly or quarterly or half yearly or yearly report and shall contain the following information as at a stated end of period date. Report | Contents Monthly 1 | Reconciliation of AUM and Units 2 | Details of Portfolio for Schemes being managed by Pension Fund 3 | Statement of Purchases and Sales effected by Pension Fund 4 | Fund Inflows and Outflows of Schemes being managed by Pension Fund 5 | Report on transactions in securities of Group company/Pension Fund associates 6 | Statement of Down Graded Investments 7 | Statement of investments classified as 'default' 8 | Statement of exposure limits for Schemes being managed by Pension Fund 3 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] 9 | Statement of Investments not eligible for investment management fees MC | Compliance certificate at Monthly Interval Quarterly 1 | Report on transactions in securities by key personnel of Pension Fund in their own name 2 | Report on transactions in securities with any of the Pension Fund's associates 3 | Portfolio overview 4 | Overview of portfolio positioning including evaluation of (a) Current economic conditions (b) Prospects for securities markets (c) Justification for the positions and transactions in the portfolio (d) Attribution of performance over last quarter (and year when applicable) on absolute basis as well as relative to the specific benchmark (e) Outlook for returns for the portfolio QC | Compliance certificate at Quarterly Interval Half-Yearly 1 | Copy of half yearly unaudited accounts of schemes as per scheme accounting regulations. (before the expiry of one month from the close of each half year) 2 | Any change in the interests of Directors HYC | Compliance certificate at Half yearly Interval 4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] Annual 1 | Statement regarding the current status of the sponsor's regulatory licenses and details of any changes in the name or capitalization of the Pension Fund or Sponsor(s) 2 | Statement showing the amount of interest accrued but not realised as on closing date of the financial year 3 | All service contracts executed by Pension Fund, including outsourced activity 4 | All service contracts such as for custody arrangements and transfer agency of the securities are executed in the interest of subscribers. 5 | Summary of all activities and compliance with regulations, guidelines, circulars 6 | Copy of the Audited Annual Report and other information including details of investments as per the Scheme accounting regulations. (within sixty days from the date of closure of each financial year) 7 | Copy of unaudited provisional financial statements (Balance Sheet, Revenue Account, notes and schedules) of each scheme. (within thirty days from the date of closure of each financial year) 8 | Voting Report including the number of votes cast (for, against, or abstained) and a statement of whether the Pension Fund has complied with its obligation to exercise its voting rights in the subscriber's interests only. AC | Compliance certificate at Annual interval Ad hoc 1 | Bio-data of all its Directors alongwith their interest in other companies within 15 days of their appointment 2 | Conflicts of interest 3 | All such information as is considered necessary by the National Pension System Trust (b) Reports to Authority (i) In addition to the reports, pension fund shall adhere to disclosures in accordance with para 2 of this Schedule (ii) Any other information as determined by the Authority. (iii) Exception reporting to be done by National Pension System Trust to Authority. (iv) National Pension System Trust shall keep the Authority informed of the operations of the Pension Fund on periodic basis. (c) Reports to central recordkeeping agencies The pension fund shall develop and have interface with the central recordkeeping agencies for:- (i) Sending and receiving reports in the required formats. (ii) Compilation and consolidation of investment instruction by central recordkeeping agencies. (iii) Confirmation Report by pension fund to central recordkeeping agencies. (iv) Daily investment report by pension fund. (v) Report of scheme wise payout position of pension fund to central recordkeeping agencies. (vi) Daily Report on Net Asset Values of the schemes within such timelines as determined by the Authority from time to time. (vii) Net fund receipt for schemes from National Pension System Trust Account. (viii) Discrepancy/confirmation report on net payout. (d) Reports to other parties (i) The pension fund shall develop and have interface to provide such reports as may be required by the National Pension System Trust, Trustee Bank, Custodian and other entities of the National Pension System architecture as may be determined by Authority and National Pension System Trust from time to time. 5 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] (ii) The pension fund shall disclose the investment management fees charged to schemes and the manner of calculating Net Asset Value of the schemes and the same shall be hosted on the website as may be specified by the National Pension System Trust and the Authority. 2. Public disclosures -Under Regulation 22(8) (a) The pension fund shall comply with the disclosure requirements as determined by Authority. (b) In order to ensure uniformity and timeliness of dispensation of information by the Authority in the interest of all stakeholders, the following public disclosures have been specified: SI | Particulars | Frequency | Format | Time Limit | Sub- heading on website 1 | Net Asset Value (NAV) (scheme wise) | Daily | Up to four decimal points | By 10.00 PM on the same day | NAV 2 | NAV History (since inception) (scheme wise- both in Tabular data as well as graphical form) | Daily | --- do --- | | NAV History 3 | Scrip wise details of Portfolio of each scheme | Monthly | Appended below (Scrip wise details of Portfolio of each Scheme) | within 10 days from the end of month | Scheme Portfolio Details 4 | Unaudited financial statements* alongwith statement of scheme portfolio | Half Yearly | (Scrip wise details of Portfolio of each Scheme) | before the expiry of one month from the close of each half year | Financials 5 | Annual Report (with Financials)** and portfolio details of each scheme | Yearly | (Scrip wise details of Portfolio of each Scheme) | after approval by the National Pension System Trust (within 15 days) | Financials 6 | Investment Policy/other mandated policy and Review Mechanism | Updated version at all times | - | Within 10 Days after Board approval | Policy 7 | Annual Report and Financials of Pension Fund. | Yearly | - | After AGM (within 10 days) | Financials 8 | Scheme wise Fee (pension fund should also simultaneously upload the Public Notice for change in fee on its website) | Yearly | - | To be updated when revised (within 4 days) | Investment Management Fee * ‘Financial Statements' includes balance sheet, revenue account and notes, schedules and other integral reports. ** Contents of 'Annual Report' are as per Financial Statements and Auditor's Report under Schedule VII (c) Pension Funds shall publish the above Public Disclosures on their respective websites at a prominent place on home page with heading 'Public Disclosure' and with sub-headings like NAV, Portfolio Details, Financials, Policy etc as applicable. Scrip wise details of Portfolio of each scheme Name of the Pension Fund : Name of the scheme : Portfolio Statement as on.... (month end) Category of Investments | ISIN No. | Industry | Quantity | Market value | % of Portfolio | Ratings Government securities and related investments -- | | | | | -- | | | | | 6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] Category of Investments | ISIN No. | Industry | Quantity | Market value | % of Portfolio | Ratings Debt instruments and Related Investments -- | | | | | -- | | | | | Equities and related Investments -- | | | | | -- | | | | | Short-term debt instruments and related investments -- | | | | | -- | | | | | Alternate Investments -- | | | | | -- | | | | | Net current Assets -- | | | | | -- | | | | | Other Assets -- | | | | | -- | | | | | GRAND TOTAL | | | | | Average Maturity of Portfolio (in years) | | | | | Modified Duration | | | | | Yield to Maturity (%) (annualized) (at market price) | | | | | Credit Rating Exposure | | | | | Central Govt. Securities | | | | | State Development Loans | | | | | AAA / Equivalent | | | | | A1+ (For Commercial Paper) | | | | | AA+ / Equivalent | | | | | AA / Equivalent | | | | | AA- / Equivalent | | | | | A+ / Equivalent | | | | | A / Equivalent | | | | | A- / Equivalent | | | | | BBB+/Equivalent | | | | | 7 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] Category of Investments | ISIN No. | Industry | Quantity | Market value | % of Portfolio | Ratings BBB / Equivalent | | | | | BBB-/Equivalent | | | | | Below Investment Grade (out of above investments classified as default) | | | | | Total | | | | | Units Outstanding NAV 1. Entire portfolio irrespective of the quantity, market value and percentage to NAV of any scrip should be disclosed in descending order of weightage within each sub-group. If percentage to portfolio of any security is less than 0.01%, it may be indicated by giving asterisk or any other mark instead of showing 0.00. 2. An asterisk / suitable mark should be given against debt instruments which are classified as default in accordance with Authority's guidelines. 3. The following information may be given by way of footnotes: a. Total amount due (principal + interest) for investments classified as below investment grade and default. b. Total amount of haircut (principal + interest) for investments classified as below investment grade and default as proportion to scheme AUM. c. NAV at the beginning and end of the period. d. Total outstanding exposure in derivative instruments at the end of the period. 4. Total 'Infrastructure investments' as per Govt. of India Harmonized Master List of Infrastructure" III. In Part III (Disclosure of Information) under Schedule VI (Code of Conduct) of the principal regulations, existing clause (3.4) after clause (c) shall be renumbered as clause (d). Dr. DEEPAK MOHANTY, Chairperson [ADVT.-III/4/Exty./785/2023-24] Note: The Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 were published vide Notification No. PFRDA/12/RGL/139/9, on the 19th May, 2015 in the Gazette of India, Extraordinary, Part III, Section 4, No. 168, and were subsequently amended by the Pension Fund Regulatory and Development Authority (Pension Fund) (First Amendment) Regulations, 2016 published vide Notification No. PFRDA/12/RGL/139/9, on the 8th September, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, No. 343, the Pension Fund Regulatory and Development Authority (Pension Fund) (Second Amendment) Regulations, 2020 published vide Notification No. PFRDA/12/RGL/139/9, on the 5th February, 2020 in the Gazette of India, Extraordinary, Part III, Section 4, No. 48, the Pension Fund Regulatory and Development Authority (Pension Fund) (Third Amendment) Regulations, 2020 published vide Notification No. PFRDA/12/RGL/139/9, on the 14th May, 2020 in the Gazette of India, Extraordinary, Part III, Section 4, No. 169, the Pension Fund Regulatory and Development Authority (Pension Fund) (Fourth Amendment) Regulations, 2021 published vide Notification No. PFRDA/12/RGL/139/9, on the 1st April, 2021 in the Gazette of India, Extraordinary, Part III, Section 4, No. 139, the Pension Fund Regulatory and Development Authority (Pension Fund) (Fifth Amendment) Regulations, 2021 published vide Notification No. PFRDA/12/RGL/139/9, on the 25th May, 2021 in the Gazette of India, Extraordinary, Part III, Section 4, No. 202, the Pension Fund Regulatory and Development Authority (Pension Fund) (Sixth Amendment) Regulations, 2021 published vide Notification No. PFRDA/12/RGL/139/9, on the 15th July, 2021 in the Gazette of India, Extraordinary, Part III, Section 4, No. 286 and the Pension Fund Regulatory and Development Authority (Pension Fund) (Amendment) Regulations, 2023 published vide Notification No. PFRDA/16/3/29/0089/2017-REG-PF, on the 13th February, 2024 in the Gazette of India, Extraordinary, Part III, Section 4, No. 96. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. MANOJ KUMAR VERMA Date: 2024.03.07 18:58:31 VERMA