Connect with us

Uncategorized

Government can increase FDI limit to 74% in pension sector, know what is the plan – Movie Reviews Tamil Cinema Reviews, Bollywood Gossip

Published

on

Government can increase FDI limit to 74% in pension sector, know what is the plan - Movie Reviews Tamil Cinema Reviews, Bollywood Gossip
Government can increase FDI limit to 74% in pension sector, know what is the plan - Movie Reviews Tamil Cinema Reviews, Bollywood Gossip

Government can increase FDI limit to 74% in pension sector, know what is the plan – Movie Reviews Tamil Cinema Reviews, Bollywood Gossip

Government can increase FDI limit to 74% in pension sector: According to sources, the Center may increase the foreign direct investment (FDI) limit in the pension sector to 74 percent and a bill related to the matter is expected to come in the next Parliament session.

Last month, Parliament approved a bill to increase the FDI limit in the insurance sector from 49 percent to 74 percent. The Insurance Act, 1938 was last amended in 2015 which raised the FDI limit to 49 per cent, resulting in foreign capital inflows of Rs 26,000 crore in the last 5 years.

The amendment to the Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013 may seek to raise the FDI limit in the pension sector based on various approvals in the monsoon session or winter session. Currently, FDI in pension funds is 49 percent.

Sources said, “The amendment bill may include the separation of the NPS trust from the PFRDA. The powers, functions and duties of the NPS Trust, which are currently placed under the PFRDA (National Pension System Trust) Regulations 2015, may fall under a charitable trust or Companies Act ”

The intention behind this is to keep the NPS Trust separate from the pension regulator and manage a competent board of 15 members. Most of the members are likely to be from the government, as they are the largest contributor to the corpus, including the states.

The National Pension System (NPS) was introduced to replace the benefit pension system defined by the Government of India. NPS was made compulsory for all new recruits in the service of the Central Government from January 1, 2004, and was also extended to all citizens from May 1, 2009 on a voluntary basis.

.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *