Pension Funds

Pension Fund Regulatory and Development Authority (PFRDA) has increased the upper age limit by 5 years for Ombudsman to 70 years. As per the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations 2015, the upper age limit was 65 years. According to the gazette notification dated March 27, the PFRDA has amended that regulation by replacing the upper age limit for Ombudsman from 65 to 70 years. "These regulations may be called the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) (Amendment) Regulations, 2023," the notification said. These shall come into force on the date of their publication in the official gazette, it said. Ombudsman appointed by PFRDA receives, considers and facilitates resolution of complaints or grievances, which fall within the ambit of the regulations. A person appointed as an Ombudsman holds office for a period of three years and would be eligible for reappointment for another t

MoS for finance says five states have reverted to Old Pension Scheme for their staff

China's reopening of the economy could be one factor for the trend, say analysts

PFRDA had launched the online partial withdrawal facility in January 2021 to help subscribers cope with the Covid-19 pandemic

A search panel headed by the Cabinet secretary is scheduled to interview shortlisted candidates on December 16 for the post of chairman of Pension Fund Regulatory and Development Authority (PFRDA), sources said. The post of the pension fund regulator will fall vacant following completion of term of incumbent Supratim Bandyopadhyay next month. The Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet secretary would interview shortlisted candidates, sources said. The selected name from the interview will be sent to the Appointments Committee of the Cabinet headed by the Prime Minister for final approval, they added. Besides the cabinet secretary, other members of FSRASC include financial services secretary and two independent members. The FSRASC is also free to identify and recommend any other person, on the basis of merit, who has not applied for the post. As per the Pension Fund Regulatory & Development Authority Act, the chairperson can hold office

Decision to extend pension scheme beyond 35 years of service taken in 232nd CBT meet on Monday; withdrawal benefits available even to those who've contributed for less than six months

Pension funds managing vast sums on behalf of retirees across Britain came close to collapse amid an "unprecedented" meltdown in UK government bond markets

Company says it has investment commitment from insurance companies, pension funds, high net worth individuals

The first offers a guaranteed rate of return for long; the other secures income for the rest of your life

A coalition of pension funds and insurance companies have committed to managing $7.1 trillion of assets in line with the Paris Agreement's goal of limiting warming to 1.5 degrees Celsius

Currently, variability in performance for investor portfolios over five-year horizon is low

The EPFO has almost 60 million subscribers and it has a cumulative pension and provident fund corpus of more than Rs 12 trillion

Assets held by the world's sovereign wealth and public pension funds rose to a record $31.9 trillion in 2021 thanks to rising US stock and oil prices

The scores of 11 countries, including India and South Korea, slipped this year as the world battles to limit the economic fallout from the Covid-19 crisis.

The decision comes as FTSE Russell is set to start adding Chinese debt to its benchmark global bond index, which the GPIF follows, from October

Union Road Transport and Highways Minister Nitin Gadkari has invited US investors, particularly insurance and pension funds, to invest in the country's road and highway infrastructure

The number of subscribers of the government's Atal Pension Yojana (APY) crossed 33 million-mark by August 25, the Pension Fund Regulatory and Development Authority (PFRDA) said on Wednesday

A staggered approach should be followed for streamlining of investment guidelines and limits to keep pace with the growth in the InvIT market, it suggested

Buying in tranches will also help you deal with interest-rate risk

Regulator will come up with comprehensive guidelines on issuer's track record and other aspects within a week