Govt readies pension law revamp
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Govt readies pension law revamp
Sidhartha / TNN / Jul 30, 2021, 06:59 IST
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NEW DELHI: The government is ready with amendments to the law to allow the Pension Fund Regulatory & Development Authority (PFRDA) offer more flexibility to subscribers when it comes to withdrawing funds at the time of their retirement, apart from bringing under-regulated superannuation funds within its ambit.
The bill which was being discussed by a committee of secretaries for several months will also delink the National Pension System Trust from the regulator, while ensuring that the FDI is aligned with the one for the insurance sector, which is currently capped at 74%, official sources told TOI.
Govt readies pension law revamp
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The bill which was being discussed by a committee of secretaries for several months will also delink the National Pension System Trust from the regulator, while ensuring that the FDI is aligned with the one for the insurance sector, which is currently capped at 74%, official sources told TOI.
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(This story originally appeared in on Jul 30, 2021)NEW DELHI: The government is ready with amendments to the law to allow the Pension Fund Regulatory & Development Authority (PFRDA) offer more flexibility to subscribers when it comes to withdrawing funds at the time of their retirement, apart from bringing under-regulated superannuation funds within its ambit.
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Government may hike FDI limit in pension sector to 74%; Bill likely in monsoon session
Government may hike FDI limit in pension sector to 74%; Bill likely in monsoon session
The government may hike foreign direct investment (FDI) limit in the pension sector to 74 per cent and a Bill in this regard is expected to come in the next Parliament session, according to sources.
Last month, Parliament approved a Bill to increase FDI limit in the insurance sector from 49 per cent to 74 per cent. The Insurance Act, 1938 was last amended in 2015 which raised FDI limit to 49 per cent, resulting in foreign capital inflow of Rs 26,000 crore in the last 5 years.
Government may hike FDI limit in pension sector to 74 per cent thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.