Max Financial Services Limited — Important, 27-12-2024: Updates

Max Life Pension Fund Management Limited (Max Life PFM), a wholly owned subsidiary of Axis Max Life Insurance Limited, will discontinue its operations as a pension fund manager. This decision aims to eliminate brand ambiguity following Axis Max Life's recent name change, which could lead to confusion among the public and NPS subscribers due to similar branding with Axis Pension Fund Management Limited. The winding down of Max Life PFM is subject to regulatory approvals, and all funds will be safely managed during the transition. After settling all expenses, the remaining capital will be repatriated to Max Financial Services Limited. Overall, this strategic move reflects a focus on clarity and operational efficiency within the group's pension fund management activities.