INDIA SET TOREVIEW PENSION FUND LAWS TO PROMOTE FLEXIBILITY.

The government of india is set to amend the pension laws to enable the regulator, the pension fund regulatory and development authority (PFRDA) offer more flexibility to subscribers when it comes to withdrawing their retirement funds. The bill which has been in the works for several months, will also delink the national pension system trust from the regulator while ensuring that the FDI is aligned with the one for the insurance sector.

Sources say that a key element in the amendment is to allow the regulator to provide additional withdrawal options to make the national pension system more attractive. Currently, subscribers can only withdraw 60% of the corpus at the time of retirement while using the remaining amount to purchase annuities.

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