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Pension Funds

PFRDA increases Ombudsman's upper age limit to 70 years from 65 years

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

PFRDA increases Ombudsman's upper age limit to 70 years from 65 years
Updated On : 29 Mar 2023 | 12:06 AM IST

No provision to refund accumulated corpus under NPS to state govt: FinMin

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

No provision to refund accumulated corpus under NPS to state govt: FinMin
Updated On : 06 Feb 2023 | 9:06 PM IST

Pension funds trim India bets, assets down nearly Rs 60,000 cr in 2022

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

Pension funds trim India bets, assets down nearly Rs 60,000 cr in 2022
Updated On : 26 Jan 2023 | 10:59 PM IST

NPS partial withdrawal rule changing for these subscribers from Jan 1

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

NPS partial withdrawal rule changing for these subscribers from Jan 1
Updated On : 26 Dec 2022 | 8:47 PM IST

Cabinet secretary-led panel to pick candidate for PFRDA chairman on Dec 16

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

Cabinet secretary-led panel to pick candidate for PFRDA chairman on Dec 16
Updated On : 04 Dec 2022 | 2:50 PM IST

EPFO board recommends extending proportionate pension benefits to members

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

EPFO board recommends extending proportionate pension benefits to members
Updated On : 31 Oct 2022 | 9:34 PM IST

UK pension funds almost collapsed amid market meltdown: Bank of England

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

UK pension funds almost collapsed amid market meltdown: Bank of England
Updated On : 06 Oct 2022 | 8:23 PM IST

Edelweiss raises $425 mn for 3rd special situation fund, seeks $1 bn corpus

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

Edelweiss raises $425 mn for 3rd special situation fund, seeks $1 bn corpus
Updated On : 04 Oct 2022 | 11:36 PM IST

Govt bonds and immediate annuity plans: 2 options for retirement income

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

Govt bonds and immediate annuity plans: 2 options for retirement income
Updated On : 23 Sep 2022 | 7:40 PM IST

Investors commit $7.1 trn of assets in pursuit of 1.5 deg C climate goal

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

Investors commit $7.1 trn of assets in pursuit of 1.5 deg C climate goal
Updated On : 20 Sep 2022 | 8:32 AM IST

Don't change your pension fund manager unless investment lags others

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

Don't change your pension fund manager unless investment lags others
Updated On : 18 Sep 2022 | 8:32 PM IST

EPFO calls for increasing retirement age to ease pressure on pension funds

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

EPFO calls for increasing retirement age to ease pressure on pension funds
Updated On : 05 Sep 2022 | 8:50 AM IST

SWF and public pension fund assets in US hit record $31.9 trillion: Report

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

SWF and public pension fund assets in US hit record $31.9 trillion: Report
Updated On : 01 Jan 2022 | 11:34 AM IST

Iceland has best pension system in the world; India near bottom of Index

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.

Iceland has best pension system in the world; India near bottom of Index
Updated On : 20 Oct 2021 | 1:30 AM IST

World's biggest pension fund won't buy China sovereign debt: Report

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

World's biggest pension fund won't buy China sovereign debt: Report
Updated On : 29 Sep 2021 | 11:46 PM IST

Gadkari invites US pension, insurance funds to invest in India's road infra

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

Gadkari invites US pension, insurance funds to invest in India's road infra
Updated On : 14 Sep 2021 | 7:45 PM IST

Atal Pension Yojana subscriber count cross 33 mn-mark, says PFRDA

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

Atal Pension Yojana subscriber count cross 33 mn-mark, says PFRDA
Updated On : 01 Sep 2021 | 8:42 PM IST

Streamline investment for insurance, pension funds in InvITs: NITI Aayog

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

Streamline investment for insurance, pension funds in InvITs: NITI Aayog
Updated On : 30 Aug 2021 | 11:53 PM IST

Pension plans: Stagger annuity purchases as returns improve with age

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

Pension plans: Stagger annuity purchases as returns improve with age
Updated On : 27 Aug 2021 | 10:36 AM IST

Pension funds will soon be allowed to invest in IPOs: PFRDA Chairman

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

Pension funds will soon be allowed to invest in IPOs: PFRDA Chairman
Updated On : 20 Jul 2021 | 11:42 PM IST