Earlier, the Indian Banks' Association has shown interest in the NPS for new bank recruits. Though no concrete decision has been taken so far. In the Budget tabled in Parliament, the government said that self-employed persons subscribing to the NPS would be subjected to tax only at the time of withdrawal.
Interim pension regulator Pension Fund Regulatory and Development Authority has appointed National Securities Depositories Ltd as an agency to track the pension records of those under the new pension scheme.
Finance Minister Pranab Mukherjee on Monday held a meeting with senior BJP leaders L K Advani, Sushma Swaraj and Yashwant Sinha to discuss these two legislations.
The pension regulator, the Pension Fund Regulatory Development Authority, is taking various steps to boost the numbers, cairman D Swarup tells Vrishti Beniwal in an exclusive interview
Agarwal's relationship with the finance ministry has been choppy, particularly after P Chidambaram.
The highest number of requests was reported for the purchase or construction of residential houses, which stood at 172,625, of which 155,236 were settled, involving an amount of Rs 1,327.91 crore partial withdrawals under the National Pension System (NPS) in FY 2024-25, according to data from the Pension Fund Regulatory and Development Authority (PFRDA) annual report released this month.
Trai has ordered BFSI firms to move service and transaction calls to the 1600 series from 2026 to reduce spam, financial fraud, and rising digital arrest scams.
'The informal sector can grow at a 100 per cent rate -- we have to plan big.'
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
Faced with a deadlock over the Pension Fund Regulatory and Development Authority Bill due to stiff opposition from the Left parties, the government is contemplating to bring a separate Bill on pension funds for private sector employees.
Turning down the suggestion of Parliamentary Standing Committee, the Union Cabinet also decided that there would be no guarantee of assured returns on schemes by pension funds.
The proposed PFRDA bill, aimed at setting up a regulator and manage a new pension system, will not allow pension schemes to invest their money in individual stocks.
Decks have been cleared for the long-awaited pension reforms with the union cabinet on Thursday giving approval to a proposal to bring in legislation for setting up a separate regulator for the sector. \n
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
Fresh differences have arisen between the government and the Left parties over pension reforms that may indefinitely stall the Pension Funds Regulatory and Development Authority Bill.
Finance Minister P Chidambaram has announced that the government will soon notify an interim investment pattern for pension funds, pending the passage of the Pension Fund Regulatory and Development Authority Bill in Parliament.
The pension bill is listed in the name of Finance Minister Pranab Mukherjee in the agenda papers of the Lok Sabha for Wednesday.
Making a case for reforms in the pension sector, the Economic Survey 2010-11 on Friday said the Parliament should expeditiously clear the long pending PFRDA Bill.
The fee for fund manager will change. As of now, they get 0.0009 per cent of the funds managed by them.
Foreign direct investment in the pension sector is likely to be pegged at 26 per cent initially and six players with at least one public sector undertaking would be allowed to operate as pension fund managers.
Interim pension regulator PFRDA will come out with investment guidelines for its mega pension plan by the middle of this month.
The government on Thursday issued an ordinance for setting up a full-fledged Pension Fund Regulatory and Development Authority akin to Insurance Regulatory and Development Authority and Securities Exchange Board of India.
All citizens of the country will be able to avail of pension facility from Friday, with the interim pension regulator PFRDA confirming the scheduled launch of the mega pension plan in a statement on Thursday.
The Securities and Exchange Board of India (Sebi) on Monday proposed relaxations for asset management companies (AMCs) to serve pooled non-broad-based funds, giving an opportunity to fund houses to expand their business.
After a lacklustre start, the New Pension Scheme, a safety net thrown open to all citizens of the country in May this year, is slowly picking up with as many as 843 customers joining it in the first two and a half months.
Public Provident Fund should be phased out over a period of time after the introduction of the new pension scheme proposed by the government, the interim Pension Fund Regulatory and Development Authority chairman D Swarup said on Saturday.
The long-awaited Pension Bill to set up a regulator and manage the new pension scheme for government employees is likely to come up before Parliament in the forthcoming session beginning May 10.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
Following recommendations from the Deepak Parekh-headed Expert Group and taking into account comments from the public, PFRDA has categorised NPS investments into three asset classes -- E (equity), C (corporate paper) and G (government securities).
Amid differences among allies, the government today deferred a decision on the changes in the crucial Pension Fund Regulatory and Development Authority Bill, 2011.
Finance Minister P Chidambaram on Tuesday asked chief ministers to carry forward pension reform as the liabilities of both the Centre and states was expected to cross a staggering Rs 100,000 crore
The central government has appointed India Invest Economic Foundation, a private agency, as consultant for operationalisation of new pension scheme by this month.
The Union government has engaged the Asian Development Bank to provide technical assistance in implementing the new pension scheme for the unorganised sector.
