Now you will get more returns, new cycle fund will come in September

Pension Fund Regulatory and Development Authority (PFRDA) is going to make the new pension system attractive to the youth. For this, it will introduce New Balanced Life Cycle Fund in September. Under this, investment in equity will be reduced when the age of the shareholder is 45 years. Currently, investment is reduced from the age of 35 years.

According to Deepak Mohanty, Chairman of Pension Fund Regulatory and Development Authority (PFRDA), shareholders will now get an opportunity to invest more in equity for another 10 years. This will enable them to create a good fund by the time of retirement. Also, it will help in balancing risk and return for a long time. At present, PFRDA has three life cycle funds. Life cycle fund provides investment options to the customers. In this, the allocation of equity and debt depends on the option chosen by the customer.