PNB allows Employees to Choose Pension Fund of their Choice

In a major relief for Punjab National Bank (PNB) Officers under the National Pension Scheme (NPS), the Board has approved a long-awaited demand allowing them to choose their own Pension Fund Manager and investment pattern. The decision was taken in the Board meeting held on August 29, 2025.

For the past several months, the All India Punjab National Bank Officers’ Association (AIPNBOA) had been raising this issue through letters, meetings, and continuous representations. The matter was discussed again in detail on August 21 and 22, 2025, and assurances were given. It was assured that the decision will be taken soon.

Now, Punjab National Bank has given its approval. Now Officers can choose Pension Fund of their Choice.

Key Benefits for PNB Officers

• Every officer covered under NPS can now choose their Pension Fund Manager (PFM) from the 11 PFMs registered with the Pension Fund Regulatory and Development Authority (PFRDA).
• Officers will also have the right to decide their investment mix between equity, corporate bonds, government securities, and alternative assets.
• As per PFRDA rules, members can change their fund manager once in a financial year and can modify their investment allocation up to four times a year.

This is a very good initiative from the Bank as the employees can now invest their hard earned money in pension fund of their choice and earn more returns.

Employees of Public Sector Banks are losing crores of rupees as they are forced to invest their money in a single pension fund which offers low returns in comparison to other funds. Click here to read this in detail.