Pension fund managers to be allowed to invest in initial public offerings The Pension Regulatory and Development Authority is aiming to increase the number of subscribers looking to build a retirement corpus by 1 crore in 2021-22 PTI | Mumbai | Published 21.07.21, 01:45 AM Pension fund managers (PFMs) will soon be allowed to invest in initial public offerings, and also in a broader list of stocks, a top official from sector regulator PFRDA said on Tuesday. The Pension Regulatory and Development Authority (PFRDA) is aiming to increase the number of subscribers looking to build a retirement corpus by 1 crore in 2021-22, its chairman Supratim Bandyopadhyay told reporters.