PFRDA To Pitch For Tax Sops For NPS

On October 16, 2014

With budget preparations about to begin, Pension Fund Regulatory and Development Authority (PFRDA) is making a fresh pitch before the government for tax sops for NPS withdrawals. Absence of tax concessions is seen as a major deterrent in NPS penetration. Hence, there is a need to give it some incentives….

Pension Funds Permitted To Invest In Basel-III Compliant Bank Bonds

On September 24, 2014

Pension Fund Regulatory and Development Authority (PFRDA) has explicitly allowed pension funds to invest in Basel-III compliant additional Tier-I bonds issued by scheduled commercial banks. These will be eligible under investments under the debt category of the New Pension Scheme. This move will be beneficial for both pension fund managers…

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PFRDA Released Draft Regulations For Pension Funds

On July 22, 2014

The Pension Fund Regulatory and Development Authority (PFRDA) has released draft regulations on pension funds for the National Pension System (NPS). As per draft guidelines, pension fund managers (PFMs) should have the ability to provide guaranteed returns through minimum assured return schemes as may be notified by PFRDA from time…

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PFRDA Seeking Tax Exemption On NPS Withdrawals

On June 16, 2014

To bring parity among Provident fund and NPS, Pension Fund Regulatory and Development Authority (PFRDA) has sought tax exemption for National Pension System (NPS) withdrawals. PFRDA has told the finance ministry that NPS withdrawals should be exempted from tax at the time of withdrawal just as PF withdrawals are at…

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PFRDA Framed Regulations For Intermediaries

On June 16, 2014

Pension Fund Regulatory and Development Authority (PFRDA) have finalized regulations for regulating all intermediary institutions. Intermediary institutions for which regulations are being framed include Point of Presence (POPs) and aggregators. Some of the regulations already been approved by PFRDA include regulations for custodians, regulations for trustee bank and inquiry investigation…

HC Asked PFRDA To Evaluate HDFC Life’s NPS Bid

On May 16, 2014

The Delhi High Court has asked the Pension Fund Regulatory and Development Authority (PFRDA) to evaluate HDFC Life’s bid for the selection of pension fund managers. The Court has asked the PFRDA to evaluate the bid in accordance with steps mentioned in the request for proposal. In other words, now…

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NPS Likely To Post Drastic Fall In Returns For FY’14

On March 10, 2014

The New Pension Scheme (NPS), on the contrary to its impressive double-digit returns generated in FY’13 is expected to post a drastic fall in returns for FY’14. Last year, NPS having the lowest fund management charge, had generated the highest returns. High bond yields this year would impact the returns…

PFRDA Bill Got President’s Assent

On September 23, 2013

President Pranab Mukherjee has given his assent to the pension bill, which provides for investment of funds in equity market and opens the sector to up to 26% Foreign Direct Investment (FDI). The long pending Pension Fund Regulatory and Development Authority (PFRDA) bill was passed by parliament on September, 6,…

PFRDA Against Partial Withdrawal From NPS

On August 19, 2013

The Pension Fund Regulatory and Development Authority (PFRDA) are not in favour of partial withdrawal of funds from National Pension System (NPS). National fund managers, however, feel policymakers would push a partial withdrawal in cases of emergency conditions, but PFRDA believe withdrawing in the middle would not help pensioners getting…

Pension Products Not At Par With NPS: Say Insurers

On April 26, 2013

Pension products might take a little longer to be counted among big contributors to the portfolio of life insurers. These used to be 25% of the total offerings and now down to single digit.  While life insurers have started introducing new products in this segment, insurers admit they are at…