Page 8 - Pfrda

What makes the NPS so crucial to retirement planning in an ageing India

India still does not have a "one retirement account" concept, with the intended money distributed across various schemes. Pension fund managers are underlining NPS as the preferred way ahead

National Pension System gradually gaining traction, says PFRDA chief

The National Pension System (NPS) is gradually gaining traction with many public sector enterprises transferring superannuation funds into it, a top official said on Thursday. Speaking at an ICC webinar Pension Fund Regulatory & Development Authority (PFRDA) Chairman S Bandopadyay said though the penetration levels of the pension scheme is low in India, many CPSEs are now transferring their own superannuation funds to NPS. He said decent returns to beneficiaries are being provided and the CAGR for central government funds is 9.95 per cent, with 15 per cent equity exposure only. "Nowadays, many corporations are placing importance on retiral benefits for its employees. Around 7,900 corporates have joined the NPS with a corpus of Rs 50,000 crore involving 10 lakh subscribers," he said. Bandopadyay said more awareness has to be created among the companies so that the joining number increases. Regarding the Atal Pension Yojana, he said during the last five-and-half months

Salaried class pours, informal workers pare pension money: PFRDA data

Contributions towards pension rose as new subscriber growth fell in April-July

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

Can't fill Section 80C limit? Use NPS Tier-II tax saver scheme

Only central government staff looking for debt-oriented schemes should go for it

RBI frames plan for financial education among school students, communities

The 'National Strategy for Financial Education 2020-2025' suggests a multi-stakeholder-led approach for creating a financially aware and empowered India

PM Modi to meet chiefs of all financial sector regulators on Thursday

Finance Minister Nirmala Sitharaman, Commerce Minster Piyush Goyal and Roads and Highways Minister Nitin Gadkari will also be a part of the meeting

Regulators, top govt officials meet to pull economy out of crisis

They also deliberated upon the status and developments under the IBC, and the working of credit rating agencies, the RBI said in a statement.

Revised inter-creditor pacts may do away with need for 66% lenders' nod

Banks will be able to customise ICAs in accordance with their needs even as more financial stakeholders are on-boarded, including those with foreign currency exposures

ESIC social security scheme sees around 821,000 enrolments in March

The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, retirement fund body EPFO and pension fund regulator PFRDA.

NPS subscribers can make partial withdrawal to cover coronavirus expenses

PFRDA declared Covid-19 as a critical illness which is life threatening in nature

Rush hour and tougher questions ahead for both Mint Road and banks

Piecemeal regulatory forbearance will not go far and tougher questions will be asked of both Mint Road and banks, reports Raghu Mohan

People complain about getting low returns on annuity: PFRDA chairman

He tells Indivjal Dhasmana there is no turf war between PFRDA and the Insurance Regulatory and Development Authority (Irdai)

PFRDA will give perpetual licences to fund managers: Supratim Bandyopadhyay

Licences for perpetuity means these would not be revoked unless a fund manager itself wants to exit or it violates some terms. The fund managers will only need to pay fee for renewing licences

Pension market set for deep reforms; foreign funds to get more leeway

This could entail a thorough rewrite of the pension products that insurance companies and some mutual funds offer today

PFRDA chief mulls separate trust to manage private sector pension funds

Many other pension schemes in the market currently are unregulated

PFRDA likely to add 10-12 lakh new subscribers by fiscal-end: Chairman

Total number of subscribers under the two schemes were around 3.38 crore as of February 22, 2020

One India, one stewardship

While the stewardship codes were first rolled out in 2017, India's experience with stewardship began earlier with Sebi's March 2010 circular.

Pramod Kumar Singh appointed wholetime member of pension fund regulator

He is at present Competition Commission of India (CCI) secretary

Govt mulls to amend PFRDA Act; to separate it from NPS Trust: FM Sitharaman

FM Sitharaman also said that the government will help ease in mobility while in jobs