The government notified a hike in the foreign direct investment limit in pension fund management to 74% from 49% under the national pension system (NPS). This step is opening doors for experienced foreign partners in this space and facilitating more competition in the fledgling segment. Pension Fund Regulatory &Development Authority (PFRDA) Act links the FDI ceiling in the insurance sector.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
National Pension System (NPS) was launched in January 2004 for government employees and later in 2009, it was opened to all. There are two types of accounts in NPS – Tier 1 and Tier 2. If a person invests in Tier 1 account then he/she gets an additional tax exemption of up to Rs 50,000. National Pension Scheme is being regulated by PFRDA.
7 Pension Funds in NPS:
The benefit of FDI in Pension Funds:
Australian cricketing icon Glenn Maxwell has announced his retirement from One Day International (ODI) cricket,…
Fruits come in many shapes, sizes and colors. While we all know common fruits like…
Every year on June 1, the world observes Global Day of Parents, a United Nations-designated…
As the 50th anniversary of the Emergency approaches, a new book by TCA Srinivasa Raghavan…
In a strategic leadership development within the Tata Group, S. Padmanabhan, a seasoned executive and…
In a significant development for the Indian Air Force (IAF), Air Marshal Jasvir Singh Mann…