India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
Pension Fund Regulatory Development Authority rolled out the NPS for all citizens from May 1. Till July 31, only 1,109 forms were collected by the 22 points of presence appointed by the interim pension fund regulator. ICICI Prudential Pension Fund Management, which has 49 branches authorised by the PFRDA to act as points of presence, collected 218 forms, the highest among all 22 POPs.
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.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
The Bill envisages an authority to promote old-age income security by establishing, developing and regulating pension funds, to protect the interest of subscribers of pension funds.
Those who have long retirement horizons of 15 to 20 years and seek higher long-term returns may opt for MSF. Investors nearing retirement (under 10 years) or those with low risk tolerance should stay away.
The pension fund managers distribute products under the National Pension System.
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.
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.
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.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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.
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
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances