Government allows for 49% FDI in pension funds - October 4, 2012

The Cabinet has allowed for 49% of FDI in pensions which will amend the Pension Fund Regulatory and Development Authority (PFRDA) Bill.

The Cabinet has allowed for 49% of FDI in pensions which will amend the Pension Fund Regulatory and Development Authority (PFRDA) Bill. The amendment also provides for a promotional, developmental and regulatory authority that would overlook the pension funds and PRFDA may likely become a full-time regulator. Also, the amendment has introduced New Pension Scheme (NPS) which would include government employees joining after January, 2004, and Rs. 15444 crore has been generated from it.

Source: www.financialexpress.com, October 4, 2012. “Reforms: Cabinet for 49% FDI in pension”

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