Business Standard

PFRDA mulling launching minimum assured return-based pension scheme

The pension authority is in talks with pension funds and actuarial firms to work out the modalities of the proposed scheme, PFRDA chairman said

pension, insurance, savings, senior citizen, employment, NPS, PFRDA
Premium

On being asked if PFRDA would be able to launch this product during the current fiscal itself, he said, "We will try. This is a product that we will be giving out of our own."

Press Trust of India New Delhi
The Pension Fund Regulatory and Development Authority (PFRDA) is working on a minimum assured return-based pension scheme, its Chairman Supratim Bandyopadhyay said.

The pension authority is in talks with pension funds and actuarial firms to work out the modalities of the proposed scheme, he said.

"Under the PFRDA Act, we have the mandate to launch a minimum assured return scheme. Under pension fund (PF) schemes, the funds that are managed are mark-to-market. So obviously there is some volatility and the valuation is according to the market movement.

"So under that, there may be some people who would like to have some minimum assurance

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 30 2020 | 9:49 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com