The Government of India had introduced the New Pension System (NPS) with effect from 1st January, 2004, as a first step towards instituting pensionary reforms and consequently moved from a defined benefit pension to a defined contribution based pension system by making it mandatory for its new recruits (except armed forces) with effect from 1st January, 2004. Twenty two (22) States / UTs Governments have also notified the New Pension System for their new employees. Of these, six states have already signed agreements with the intermediaries of the NPS architecture appointed by PFRDA for carrying forward the implementation of the New Pension System. The other States are in the process of finalisation of documentation.

The NPS has since been made available, on voluntary basis, to all citizens of India (other than Central and State Government employees already covered) including workers of the unorganized sector with effect from 1st May, 2009.

Pension Fund Regulatory and Development Authority (PFRDA) has selected, through a competitive selection process, six pension funds/sponsors to manage the assets under the NPS of the citizens of India and Reliance Capital Pension Fund Limited is one of the Pension Funds selected by the NPS for the purpose.

Reliance Capital Pension Fund has been appointed as Pension Fund Manager for a period of 3 years commencing from 1st May, 2009 and ending on 30th April, 2012, in accordance with the terms of the Investment Management Agreement executed on 29th April, 2009.

Reliance Capital Pension Fund Limited. Is a wholly owned subsidiary of Reliance Capital Asset Management Limited (“Sponsor”).

Reliance Capital Pension Fund Limited. (“RCPFL”) was incorporated under the Companies Act, 1956 on 31st March, 2009 RCFPL has an authorized share capital of Rs. 15.00 crores and the paid up share capital Rs. 12.00 crores. RCPFL was issued the certificate of commencement of business by the registrar of companies on 24th April, 2009 and by the PFRDA on 30th April 2009.