Pension Fund Regulatory and Development Authority has deferred the launch of New Pension System for individuals in unorganised sectors by two months. The launch that was scheduled for April 1 is now likely to take place on June 1 as a result of the moral code of conduct by the Election Commission.
“It has been deferred because we have not been able to go ahead with the media launch and there is lack of information on the product,” said D Swarup, chairman, PFRDA. “Due to the moral code of conduct applicable since March 2, we will not be able to advertise and create awareness about the product and hence the deferment.”
The PFRDA chairman also said that everything was going as per the schedule but for the moral code of conduct administered by the election commission that bars it from running advertisements and campaigns which are important to have before the launch.
The pension fund project is now expected to see the light of the day in June.