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PFRDA News

'Living too long a serious threat to Indians' Tuesday, July 5, 2011 @ 5:41PMBanks and other intermediaries who provide access to the National Pension System may now be a bit more forthcoming in opening pension accounts.
NPS costliest pension plan: PFRDA panel Tuesday, July 5, 2011 @ 2:41PMA committee appointed by the pension fund regulator has suggested a radical overhaul of the new pension scheme by substantially lowering the costs of buying into NPS, giving greater financial incentives to entities selling NPS products and a greater 'push' to sell the scheme.
Bajpai panel for reform of NPS Tuesday, July 5, 2011 @ 1:40PMTo revive the New Pension System (NPS), a committee has suggested sweeping changes in its architecture. It has proposed bringing in the postal department, telecom companies, pension fund managers, fast moving consumer goods (FMCG) companies and third-party corporate agents for selling the product. The report was given on Tuesday to the Union finance minister.
'Use mobile, postal network for more coverage' Tuesday, July 5, 2011 @ 8:04AMIn order to popularise the social security schemes for the unorganised sector, a Committee on Tuesday suggested PFRDA access the postal department's network and enter into tie ups with mobile phone operators who have vast reach.
Use mobile, postal network for more coverage: Pension panel Tuesday, July 5, 2011 @ 7:14AMNew Delhi, July 5 (PTI) In order to popularise the social security schemes for the unorganised sector, a Committee today suggested PFRDA access the postal department''s network and enter into tie ups with mobile phone operators who have vast reach.It is felt the postal department will enable widen the reach of the scheme manifolds, while the telecom operators on their part would help ...
PFRDA invites comments on informal sector pension report Tuesday, July 5, 2011 @ 1:29AMNew Delhi, Jul 4 : Pension Fund Regulatory and Development Authority (PFRDA) today invited public comments on its Report relating to implementation of informal sector pension.
More incentives to widen NPS net Friday, July 1, 2011 @ 3:12PMA complete overhaul of the New Pension Scheme (NPS) for individuals could be in the offing if recommendations of the committee headed by former Sebi chairman G N Bajpai are accepted.
IMF, WB to hold stress test for financial sector Monday, June 13, 2011 @ 3:42PMMultilateral lending agencies International Monetary Fund and World Bank will this week conduct their first test of India's financial sector under the IMF's Financial Sector Assessment Programme.
A big problem: providing pensions for 480m people Monday, June 13, 2011 @ 12:12PMEuropean fund managers wearied by the perennial debate over fees might like to spare a thought for their colleagues in India, who are being asked to run the country’s New Pension System for an eye-watering 0.0009% of assets.
Financial stability difficult without central bank autonomy Friday, June 10, 2011 @ 6:26PMIndia had set up the Financial Stability and Development Council after recognising the need for stability, but it needs to establish conventions and practices to prevent its ?spillover? into monetary policies, said the Reserve Bank of India Governor Duvvuri Subbarao.
Law min proposes regulatory service to strengthen watchdogs Tuesday, June 7, 2011 @ 7:20PMThe law ministry is working on a proposal to set up an Indian Regulatory Service along the lines of Indian Administrative Service and Indian Police Service.
Report on how to make NPS distributor friendly this week Sunday, June 5, 2011 @ 5:56PMThe much-awaited report on how to make the National Pension System (NPS) more distributor friendly by bringing in some marketing-driven approach is finally going to be tabled this week.
FE Editorial: Equity for pensioners Friday, June 3, 2011 @ 2:51PMSebi chief UK Sinha is right when he pitches for allowing pension funds to invest in equity markets. While this will provide a fillip to equity markets which have a current market cap of R67 lakh crore-the New Pension Scheme has a corpus of R8,500 crore within just 5 years of coming into being, insurance firms R1.4 lakh crore in their pension schemes and the EPFO R1 lakh crore in its Employees ...
Pension funds should flow into mkts: Sebi chief Thursday, June 2, 2011 @ 6:12PMMarkets regulator U K Sinha has called for an increase in equity investment by retirement funds to act as a counterbalance to volatile investments by foreign institutional investors.
PFRDA to retain 50% cap on equity investment in new pension policy Thursday, June 2, 2011 @ 2:35PMPFRDA on Thursday said it would like to maintain the 50% limit on investment in equities for the new pension fund, regardless of the recommendation of the Bajpai committee.
Panel seeks leash on wealth managers Tuesday, May 24, 2011 @ 8:27PMWith instances of frauds committed by wealth managers on the rise, a highlevel committee of financial regulators and top government officials on Tuesday discussed the need to regulate the segment better.
'Difficult to have a roadmap for insurance industry' Tuesday, May 24, 2011 @ 8:12PMJ Hari Narayan, the third chairman of Insurance Regulatory and Development Authority, will soon complete his third year in office.
Officials for proper regulation of wealth advisory services Tuesday, May 24, 2011 @ 8:59AMMumbai, May 24 (PTI) With instances of frauds committed by wealth managers on rise, a high-level committee of financial regulators and top government officials today discussedthe need to regulate the segment better. "It was discussed that the wealth advisory services needed to be better regulated," Pension Fund Regulatory and Development Authority (PFRDA) Chairman Yogesh Agarwal told reporters ...
Non-performing National Pension Scheme sellers may lose registration Sunday, May 22, 2011 @ 2:35PMUnhappy over the lacklustre show by Points of Presence in selling New Pension Scheme, the interim regulator PFRDA has warned the non-performing ones of stringent action, including denotification of their registration. According to a PFRDA official, "We have received several complaints from the subscribers that most of the PoPs of NPS are not addressing their queries efficiently.
SREI Inf Fin Ltd - Media Release Thursday, May 19, 2011 @ 8:04AMSREI Inf Fin Ltd - Media Release
Bid to make pension popular Tuesday, May 17, 2011 @ 5:32PMNew Delhi, May 17: The Pension Fund and Regulatory Development Authority (PFRDA) plans to make changes in the new pension scheme (NPS) to make it more popular after it gets the Bajpai committee report by the end of this month.
Bajpai committee report likely by May-end: PFRDA Tuesday, May 17, 2011 @ 5:46AMNew Delhi, May 17 (PTI) Interim pension regulator PFRDA is expecting the G N Bajpai-headed committee report on National Pension Scheme (NPS), set up to fast track and popularise a retirement scheme for individuals, to submit its report by the end of this month.
PFRDA to review performance of fund managers tomorrow Monday, May 16, 2011 @ 6:56AMPension Fund Regulatory and Development Authority (PFRDA) will conduct performance review including the returns generated by the fund managers tomorrow.
Insider trading on UK Sinha radar Monday, May 9, 2011 @ 8:11PMU K Sinha , the top market regulator , is embarking on a massive programme of increased surveillance in the market place , mainly aimed at preventing insider trading , which is quite rampant.
Pilot launches post-retirement finance scheme for Dak Sewaks Tuesday, May 3, 2011 @ 11:38AMNew Delhi, May 3 : Over 2.70 lakhs Gramin Dak Sevaks (GDSs) may now rest assured for their post retirement financial security, with absolutely no expenditure or investment on their part, as the Department of Posts will deposit Rs 200 per GDS per month to provide for financial security of the GDSs and their spouses after retirement at the age of 65.
NPS to outpace pension schemes of insurance firms, says PFRDA chief Sunday, April 24, 2011 @ 2:04PMThe demand for products offered by the New Pension Scheme (NPS) was likely to outpace the demand for pension products of insurance companies, said Yogesh Agarwal, chairman of the Pension Fund Regulatory and Development Authority (PFRDA).
Entities are regulated, not products: PFRDA chief Monday, April 18, 2011 @ 1:34PMThe issue of regulating pension products of insurance firms and mutual funds will not snowball into a major turf war between watchdogs. This is because entities, not products, are regulated in India under the current regulatory framework, said Yogesh Agarwal, chairman, Pension Fund Regulatory and Development Authority (PFRDA).
Pranab to seek Yashwant's help in PFRDA bill clearance Sunday, April 10, 2011 @ 4:09PMOn hold since 2004, the PFRDA Bill that gives a statutory backing for a pension sector regulator was re-introduced in the recent Budget session.
PFRDA to do own maths for pension age Monday, April 4, 2011 @ 2:24PMLaunched with much fanfare in finance minister Pranab Mukherjee's Lok Sabha constituency last September, the PFRDA's pension scheme for the poor has run into a serious operational issue.
Govt panel gears up for new financial sector rules Sunday, April 3, 2011 @ 12:18AMA high-profile panel will begin on Tuesday deliberations for re-writing the entire financial sector rules of the country and evolving a better regulatory oversight system to check frauds and irregularities.
Govt panel gears up for deliberating new financial rules Saturday, April 2, 2011 @ 11:59PMNew Delhi, Apr 3 (PTI) A high-profile panel will begin on Tuesday deliberations for re-writing the entire financial sector rules of the country and evolving a better regulatory oversight system to check frauds and irregularities.The government notified late last month the constitution of the Financial Sector Legislative Reforms Commission (FSLRC), which will hold its first meeting on April 5. ...
Minister defends Anganawadis pension scheme Thursday, March 31, 2011 @ 9:20PMBangalore, Mar 31 : Allaying fears of workers that the contribution to the pension scheme would be diverted to equity market, Karnataka Women and Child Welfare Minister C C Patil today appealed to the agitating Anganwadi staff to withdraw their protest.
Q&A: B N Srikrishna, Chairman, FSLRC Wednesday, March 30, 2011 @ 3:05PMThe government appointed a 10-member Financial Sector Legislative Reforms Commission (FSLRC) on March 24 to rewrite and clean-up financial sector laws to bring them in tune with the current requirements. Retired Supreme Court Judge B N Srikrishna, who chairs the Commission, tells Indivjal Dhasmana that the issue of avoiding turf war between regulators would be considered by the panel and that ...
Banas Dairy to give pension to milk producers from April 1 Friday, March 25, 2011 @ 11:36PMPalanpur, Mar 25: Banaskantha District Milk Producers Co-operative Union (BDCMPUL), popularly known as ‘Banas Dairy’, is all set to introduce pension scheme for the milk producers from April 1.
Pension reforms Friday, March 25, 2011 @ 4:08PMFinance minister Pranab Mukherjee on Thursday introduced the Pensions Fund Regulatory and Development Authority Bill, paving the way for long-awaited pension reforms in Asia's third-largest economy.
Banas Dairy to introduce pension scheme for members Friday, March 25, 2011 @ 11:03AMBanaskantha, Mar 25 (PTI) The Banaskantha District Milk Producers'' Co-operative Union (BDCMPUL), popularly known as ''Banas Dairy'', has decided to introduce pension scheme for its milk producer-members."The scheme would be implemented from next financial year (April 1, 2011) for the first time for milk producers associated with any of the dairy cooperatives," said Parthi Bhatol, Chairman of ...
Tripura employees' demonstrates against PFRDA Bill Friday, March 25, 2011 @ 2:25AMAgartala, Mar 25 : The state government employees in Tripura today organised a two-hour mass sit-in-demonstration in front of the public offices protesting the move of Pension Fund Regulatory and Development Authority (PFRDA) Bill, 2009.
Govt brings pension bill in Parliament Thursday, March 24, 2011 @ 7:42PMThe government on Thursday introduced the Pension Fund Regulatory Development Authority Bill in Parliament, a key reform bill pending for nearly six years, which will pave the way for formalizing a regulatory entity for the sector to help oversee development and regulation of pension funds.
Govt constitutes Financial Sector Legislative Reforms Commission Thursday, March 24, 2011 @ 7:13PMNEW DELHI: The Central Government on Thursday constituted the Financial Sector Legislative Reforms Commission (FSLRC) under the chairmanship of former Justice B. N. Srikrishna to rewrite and harmonise financial sector legislations, rules and regulations.
Bill boost for pension reform Thursday, March 24, 2011 @ 6:03PMNew Delhi, March 24: The government today introduced a long awaited pension bill, which could lead to the entry of private funds in the pension business.
BJP puts reform first, supports pension fund bill Thursday, March 24, 2011 @ 5:33PMThe support came at a time when the Left parties pressed for a vote over its introduction stage in the Lok Sabha.
FDI cap in pension wont require Parliament nod Thursday, March 24, 2011 @ 3:57PMUnlike in insurance, where the FDI policy is defined by law and therefore requires Parliament's approval for any change, the government would be free to determine the FDI limit in the burgeoning pension industry through executive orders.
Govt introduces Bill to give statutory power to PFRDA Thursday, March 24, 2011 @ 9:29AMNew Delhi, Mar 24 (PTI) Taking forward financial sector reforms, the government today introduced a long-pending PFRDA Bill in the Lok Sabha to give statutory status to interim pension regulator and promoting old age income security.
Govt introduces Bill to give statutory power to PFRDA Thursday, March 24, 2011 @ 9:21AMNew Delhi, Mar 24 (PTI) Taking forward financial sector reforms, the government today introduced a long-pending PFRDA Bill in the Lok Sabha to give statutory status to interim pension regulator and promoting old age income security.The Bill, introduced by Finance Minister Pranab Mukherjee, provides for establishing a statutory regulatory body to be called the Pension Fund Regulatory and ...
Govt constitutes FSLRC to examine oversight on regulators Thursday, March 24, 2011 @ 7:46AMNew Delhi, Mar 24 (PTI) The government today constituted the Financial Sector Legislative Reforms Commission (FSLRC) headed by former Justice B N Srikrishna, to examine the means of oversight on regulators and their autonomy from the government, among others."The resolution notifying the constitution of Financial Sector Legislative Reforms Commission (FSLRC) was issued today," an official ...
RBI raises red flag on surging current A/c deficit Wednesday, March 23, 2011 @ 4:08PMCentral Bank governor Duvvuri Subbarao pointed out dangers of a widening current account deficit on economic stability at a recent summit of the regulators.
Budget 2011: Finance Minister withdraws proposed service tax on healthcare Tuesday, March 22, 2011 @ 4:23AMFM also provided some relief to readymade garment manufacturers by raising the abatement available for levy of taxes on retail price of some branded garments.
'FDI in retail needs broader consensus' Monday, March 21, 2011 @ 3:32AMEconomic Affairs Secretary R Gopalan, who retains charge of financial services, has shown an ability to grasp ground realities in pushing critical reforms.
Medical Council of India, PFRDA and other imp Bills get Cabinet nod Friday, March 18, 2011 @ 12:11AMNew Delhi, Mar 17: The Cabinet cleard a number of key bills, including the Pension Regulatory Authority Bill and the Medical Council of India(Amendment) Bill.
Pension bill okayed, reforms get a leg up Thursday, March 17, 2011 @ 7:42PMYou would not expect a government that has skeletons tumbling out of its closet to push the reforms agenda. But UPA-II seems to be beating the conventional wisdom.