26% Foreign Direct Investment in Pension Funds – A Bold Decision
Pension Fund Regulatory Development and Authority (PFRDA) gets teeth i.e. statutory powers to regulate and develop the industry, as now government has approved amendments to the PFRDA Bill, 2011, while agreeing to the proposed 26 per cent foreign investment in the pension sector.
"The government is of the view that FDI cap in the pension should be at 26 per cent at par with the insurance sector. However, it would like to retain the flexibility of changing the cap of FDI as and when required and that is why it has not been kept as part of the Bill"
It is important to note that proposed legislation will not provide assured returns to the subscribers of pension schemes.
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