The government is considering to amendment the Pension Fund Regulatory and Development Authority (PFRDA) Bill based on the recommendations of the standing committee on finance, which examined the Bill. | |
| "The objective of these reforms is to provide a well-regulated, modern, sustainable pension system, which offers portability, flexibility and choice to subscribers. The nature of the institutional architecture will depend on the PFRDA Bill, 2005," PK Bansal, minister of state for finance, said, in reply to a question in Parliament. |
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| The new pension system proposes to let private fund managers manage the investment of the pension contributions with the members having an option to choose their allocation between debt and equity, based on their risk profile. |
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| The pension reform process initiated in India is the outcome of the deliberations and recommendations of several expert committees and groups, including Project OASIS (Old Age Social and Income Security) of the ministry of social justice and empowerment, a ministry of finance working group and a high-level expert group headed by BK Bhattacharya, former chief secretary, government of Karnataka. |
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