Annexure II

Indicative Template for “NPS Scheme Essentials” Document of the proposed Pension Fund Scheme under MSF

Regulatory Provisions of the scheme	Details to be Disclosed
Scheme Name & PF	LIC PFL NPS Smart Balance Tier I
Fund Manager Details	Ms. Meghna Pareek for Equity, 5 years Mr. Nitin Pareek for G Sec., 5 years Ms. Sifra Nagaonkar for Corporate Bonds, 5 years
Objective of Scheme	To achieve long-term capital appreciation by following multi-asset allocation approach providing both growth from equity and stability from debt, making it suitable for subscribers with high risk appetite
Target Segment	Corporate employees (with employer co-contribution). Self-employed professionals / entrepreneurs. Young workforce in digital economy & services sector.
Asset Allocation Pattern	Asset Class % Exposure Equity and Equity related instruments 65% to 85% Debt and Debt related instruments 15% to 35% Alternate Investment Fund / # ETF (gold, silver etc.) 0% to 5% # The investment in ETF (gold, silver etc.) will be subject to the approval by the Authority (PFRDA) Short term debt instruments and related instruments 0 to 10%
Risk Level (Risk-o-Meter)	High Risk
Vesting Period	Minimum vesting period of 15 years, subject to option to exit at age 60 or at the time of retirement
Switching Options (within MSF / to Common Schemes as per rules)	Subscribers are permitted to switch from this scheme to Common Schemes only but not to another scheme approved under Section 20(2). Common Schemes refer to schemes falling under the Auto Choice, Active Choice and Balance Life Cycle. Section 20(2) schemes are schemes launched by Pension Fund Managers under the Multi Scheme Framework, duly approved by PFRDA. However, the Subscribers who invest in this scheme can move their funds across the schemes under Section 20(2) upon completion of vesting period of 15 years or upon time of normal exit as defined by Exit Regulations of PFRDA
Exit / Withdrawal Provisions	Exit, withdrawal, and annuitization shall be governed by the provisions of the PFRDA (Exits and Withdrawals under NPS) Regulations, as amended from time to time.
Charges & Fees	IMF & Distribution charges : 0.30% AUM p.a. Other charges : Custodian, CRA, NPS Trust charges, additional incentive if eligible - as prescribed by PFRDA
Benchmark	Will be curated after due consultation with NPS Trust in line with the scheme objective
Risk Management	As per the existing guidelines of the regulator
Tax Benefits	As per Income Tax Act, 1961
Subscriber Communication	The Net Asset Value (NAV) of the scheme shall be calculated and disclosed on a regular basis in accordance with PFRDA guidelines. The NAV shall be published on the website of the Pension Fund Manager and such other platforms as may be mandated by PFRDA from time to time, to ensure transparency and accessibility for subscribers.
Winding-up Provisions	In case of winding up of the scheme by LIC PFL, the choice shall be provided to the Subscribers to migrate to any Common or Section 20(2) scheme. Those Subscribers who do not exercise their choice, would be migrated to Tier I under Auto Choice LC 50 of LIC PFL.
Other Information	NA

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