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Governance

National Pension System Trust is governed by the Board of Trustees who have the legal ownership of the trust and the funds. The Trust is regulated by PFRDA through the PFRDA (NPS Trust) regulations, 2015. PFRDA appointments the Chairman, Trustees and the CEO of the Trust.

The general superintendence, direction and management of the affairs of the Trust and all powers, authorities and discretions are vest in the Board of Trustees. The Board meets once in every three calendar months.

The Board of Trustees of NPS Trust are required to oversee the various audit reports, compliance reports of the PFM besides monitoring the performance of PFMs. In terms of para 7.2 (iv) of Trust Deed dated 27th February 2008, the Board of Trustees constitutes such committee(s). Currently, the Board has constituted an Audit Committee to assist the Board in audit matters related to the Scheme Accounts of NPS.

A Business Review Consultant (BRC) is also appointed to assist the Board to (a) review the existing formats etc. for performance review of the PFs, (b) review the performance of the PFs at prescribed interval.