Govt readies pension law revamp
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Govt readies pension law revamp
Sidhartha / TNN / Jul 30, 2021, 06:59 IST
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NEW DELHI: The government is ready with amendments to the law to allow the Pension Fund Regulatory & Development Authority (PFRDA) offer more flexibility to subscribers when it comes to withdrawing funds at the time of their retirement, apart from bringing under-regulated superannuation funds within its ambit.
The bill which was being discussed by a committee of secretaries for several months will also delink the National Pension System Trust from the regulator, while ensuring that the FDI is aligned with the one for the insurance sector, which is currently capped at 74%, official sources told TOI.
Govt readies pension law revamp
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Synopsis
The bill which was being discussed by a committee of secretaries for several months will also delink the National Pension System Trust from the regulator, while ensuring that the FDI is aligned with the one for the insurance sector, which is currently capped at 74%, official sources told TOI.
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(This story originally appeared in on Jul 30, 2021)NEW DELHI: The government is ready with amendments to the law to allow the Pension Fund Regulatory & Development Authority (PFRDA) offer more flexibility to subscribers when it comes to withdrawing funds at the time of their retirement, apart from bringing under-regulated superannuation funds within its ambit.
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Synopsis
PFRDA has recently allowed investment in new-age assets, such as REITs and InvITs, to maintain a decent rate of return as interest rates plunge to record lows.
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A few days ago, PFRDA also allowed pension funds to invest in bonds issued by trusts that need money to run long-term projects.
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MUMBAI: India’s pension funds regulator, which recently expanded the list of instruments asset managers could own, Tuesday allowed partial deployment of retirement cash pools into initial public offerings (IPO), primarily of above Rs 21,415 crore market capitalisation to cushion the impact of low-interest rates and boost yields for the average saver.
NPS withdrawal rules: Now, you can withdraw full pension without annuity on THIS condition
The Pension Fund Regulatory and Development Authority (PFRDA) has approved the proposal for the NPS subscribers to withdraw their entire fund.
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Updated: Jul 28, 2021, 07:44 AM IST
There is good news for pensioners. The Pension Fund Regulatory and Development Authority (PFRDA) has approved the proposal for the subscribers of the National Pension System to withdraw their entire money. PFRDA has said that those subscribers whose total pension corpus is Rs 5 lakh or less, can withdraw their entire money without buying an annuity.
Can you withdraw full money from NPS?