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.
Interim pension regulator PFRDA will come out with investment guidelines for its mega pension plan by the middle of this month.
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.
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.
The PFRDA is engaged in consolidating the initiatives taken so far regarding the full New Pension System and expanding the reach of distribution network.
The Securities and Exchange Board of India (Sebi) has planned a slew of further relaxations to facilitate easier registrations of foreign portfolio investors (FPIs), including a common know-your-client (KYC) and smoother documentation through India digital signature.
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.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
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
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).
UTI Mutual Fund plans to foray into the pension sector once the government sets up Pension Fund Regulatory and Development Authority in October this year.
The central government has appointed India Invest Economic Foundation, a private agency, as consultant for operationalisation of new pension scheme by this month.
Markets regulator Sebi has proposed introducing a single window access for low risk foreign investors seeking to participate in the Indian securities market, a move aimed at simplifying compliance and enhancing the country's attractiveness as an investment destination.
Let's Make Savings As Exciting As Spending. This World Savings Day, rediffGURUS Nitin Narkhede, Milind Vadjikar and Ramalingam Kalirajan are all set to answer your queries on savings and investments.
Twenty-six per cent FDI cap in sector is not incorporated in Bill as govt retains flexibility.
The Union government has engaged the Asian Development Bank to provide technical assistance in implementing the new pension scheme for the unorganised sector.
Interim pension regulator PFRDA will launch from December this year its savings scheme, which aims to give greater returns on the deposits, and can be withdrawn fully.
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.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
A new kind of pension-cum-savings scheme is on the anvil, which would provide a safety net as well as liquidity to the holder.
The revised bill will give statutory powers to interim regulator Pension Fund Regulatory and Development Authority to make it on par with other financial regulators -- Securities and Exchange Board of India, Reserve Bank of India and IRDA.
The joint venture of Punjab National Bank, Vijaya Bank, Berger Paints and the United States-based Principal Group has evinced interest to the interim Pension Fund Regulatory and Development Authority for foraying into the green-field sector.
After years of waiting, finally there seems to be hope for the passage of the Pension Fund Regulatory and Development Authority Bill, thanks to the Left's withdrawal of support from the government. The passing of the Bill will provide statutory backing to the regulatory agency, enabling it to issue guidelines and allow non-government employees to save for the long-term. PFRDA Chairman D Swarup spoke to Business Standard about the issues involved.
Bowing to the pressure of Left parties, the government on Wednesday referred the Pension Fund Regulatory and Development Authority Bill to Parliamentary Standing Committee on Finance.
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.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
The protesters who had gathered under the banner of the Joint Forum for Restoration of Old Pension Scheme and National Joint Council of Action said they were worried about their post-retirement future.
The new pension system is structured in a manner that it is possible to escape poverty during old age.
Under the NPS, every subscriber will have an individual pension account, which will be portable across job changes.
Life Insurance Corporation and UTI Mutual Fund are in the fray for entering the lucrative pension business, which is slated to grow to Rs 50,000 crore (Rs 500 billion) by 2010.
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
The government will operationalise the interim Pension Fund Regulatory and Development Authority and come up with the new pension scheme for about 1,00,000 employees from January 1, 2004.
Government auditor CAG has rapped five regulators, including Sebi, Irda and PNGRB, for keeping their surplus funds worth over Rs 2,142 crore collected through fee and penalty outside the government accounts.
The government on Sunday gave a strong push to upgradation and expansion of healthcare infrastructure, medical education and pharma sector with the Union Budget 2026-27 announcing a slew of steps, including those aimed at making India a global hub for allied healthcare professionals and biopharma manufacturing.
The government has asked the Pension Fund Regulatory & Development Authority to open the retirement scheme--which has so far been confined to central government employees--to the self-employed and those in the unorganised sector.
