Diamond PFC is in the business of safe-keeping, security and custody of pension funds and assets. In accordance with the Pension Reform Act of 2004, the functions of the PFCs are

• To receive the total contributions remitted by the employer under Section 11 of PRA on behalf of the pension fund administrator within 24 hours of the receipt of contributions from any employer.
• Notify the pension fund administrator within 24 hours of the receipt of contributions from any employer
• Hold pension funds and assets in safe custody on trust for the employee and beneficiaries of the retirement savings account.
• On behalf of the pension fund administrator, settle transactions and undertake activities relating to the administration of pension fund investments including the collection of dividends and related activities.
• Report to the commission on matters relating to the assets being held by it on behalf of any pension fund administrator at such intervals as may be determined from time to time by the Commission
• Undertake statistical analysis on the investments and returns on investments with respect to pension funds in its custody and provide data and information to the pension fund administrator and the Commission
• Execute in favour of the pension fund administrator relevant proxy for the purpose of voting in relation to the investments.

In its role as a custodian, the specific services provided by DiamondPFC includes but are not restricted to – Pension Contribution Collection, Cash management, Trade settlement, Portfolio valuation, Corporate action and Compliance monitoring & reporting.

• Contribution Collection and Defined Benefits Management: DiamondPFC receives contributions remitted by employers in favour of their employees on behalf of the pension fund administrators and also administers contributions made by employees prior to the new scheme (defined benefits Schemes).
• Safe Keeping and Vault Management: Holds pension funds and assets in safe custody on trust for the employees and beneficiaries. DiamondPFC keeps track of all assets in custody electronically. All stages of assets registration are tracked by our software. Reconciliation of all assets under custody is done on a daily/weekly basis as the case maybe. We also provide our clients with online access to view transactions and balances in their respective accounts.
• Trade Settlement: We settle transactions and trades on the NSE/CSCS in line with PFAs instructions and trade details. On settlement, DPFC takes possession/custody of the assets on behalf of the PFA.
• Corporate Action: We undertake activities relating to the collection of dividends, rights processing cash management, Public offers, proxies, entitlements and all other related functions
• Reporting: Generate reports to regulators and PFAs at prescribed intervals and request.
• Payment of entitlements to pensioners.