May 2021
27May

India. Demise of govt employees covered under NPS

Central Government employees covered under National Pension System have been given the option under rule 10 of CCS (Implementation of NPS) Rules, 2021, to choose benefits either from old pension schemes or accumulated pension corpus under NPS in the event of their death. The family of a deceased government employee cannot exercise this option. Read also Africa’s Biggest Fund Manager Loses Head of Impact Investing In case, the employees could not furnish the option in this regard, there is a default...

May 27, 2021
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April 2021
16Apr

India. National Pension System: PFRDA to extend entry age to avail benefits

Senior citizens who have not yet got into the National Pension System (NPS) bandwagon may have some cause for cheer. Pension regulator PFRDA plans to soon extend the maximum entry age for availing NPS benefit to 70 years from the current 65 years, its Chairman Supratim Bandyopadhyay said on Thursday. Read also EU insurance regulator cracks down on unit-linked policy costs Simultaneously, the exit age limit is proposed to be extended from 70 years to 75 years, he said at a...

April 16, 2021
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05Apr

India. PFRDA revises Investment Management Fees to be charged by pension funds in NPS – Check details

Investment Management Fees charged by pension funds in the National Pension System (NPS) have been increased by the Pension Fund Regulatory and Development Authority (PFRDA) effective April 1, 2021. The fund management fees which were 0.01 per cent of the asset will now stand increased but will be capped at 0.09 per cent depending on the total asset under management of the pension fund. The revised revenue structure for the pension funds will be a staggered based model, under...

April 5, 2021
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March 2021
17Mar

Pension Fund Managers: PFRDA Board clears licence award under new framework

Most of the ten applicants may get licences in the latest round The Board of the pension regulator, Pension Fund Regulatory and Development Authority (PFRDA), has given its approval to award licences to pension fund managers under its recently floated Request for proposal (RFP), for selection of sponsors of pension funds for National Pension System (NPS). Read also Virus exacts toll on women’s retirement savings, workplace diversity efforts – panel It may be recalled that as many as ten applicants, including new...

March 17, 2021
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11Mar

India. NPS Scheme: PFRDA empowers National Pension System subscribers by offering this facility – Check benefits

NPS Scheme: The National Pension System (NPS) subscribers have been given Immediate Payment System (IMPS) facility enabling them with an instant money transfer from their bank account to their NPS account. This will help them avail of the benefit of the same day investment provided by the NPS contributions. The functionality of accepting IMPS has been released with effect from 1st March 2021. However, unlike the contributions received through NEFT/RTGS which are returned on the same day in case of...

March 11, 2021
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February 2021
11Feb

India. Will WhatsApp Thrive In Micro-Pension Space, A Road Not Taken By Indian Fintech?

WhatsApp is on its way to rolling out micro-pension products for the Indian masses In spite of a robust fintech ecosystem, no startup has attempted to cater to an underserved Indian market WhatsApp could be facing tough challenges as the low-income population lacks financial awareness and the habit of saving When messaging giant WhatsApp announced its foray into micro-pension products in December 2020, it turned out to be a first-of-its-kind initiative in the Indian fintech space. This is surprising,...

February 11, 2021
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January 2021
06Jan

India. New fee structure opens the doors wider for pension fund managers: PFRDA chief

‘Increased fees will ensure both profitability and investment in infra’ Pension regulator PFRDA has now taken a big initiative to revamp the pension funds management structure in India and position the industry for strong decadal growth that could take the overall assets under management of the National Pension System (NPS) to ₹30-lakh crore by 2030. The regulator has now come out with a new Request for Proposal (RFP) for selection of sponsors of pension funds for NPS, throwing open the door for...

January 6, 2021
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December 2020

17Dec

WhatsApp to roll out health insurance and micro-pension products in India

The Facebook-owned company is currently allowed to extend its payment service to a maximum of 20 million users for peer-to-peer transactions. Read also Chile’s Great Pension Raid A month and a half after receiving regulatory approval from the National Payment Council of India (NPCI) to roll out payments on its messaging platform, WhatsApp has unveiled plans to offer financial services like health insurance and micro-pension products in India. Read also Malta. Three in ten pensioners at risk of poverty The American...

December 17, 2020
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11Dec

Intergenerational Mobility of Health in India and Its Implications to Elderly Care

By E. Sownthara Rajan To understand the effect of education of children as an intervention to improve elderly health and suggest the sector of elderly who needs state support. This finding will help in locating a sector of elderly where the targeted geriatric care and elderly support can be provided. There is a prevalent conversation in academic literature about growing elderly population around the world which is estimated will be 22 per cent of the world population by 2050...

December 11, 2020
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October 2020

16Oct

India. Regulator Plans To Hike Fee Charged By NPS Fund Managers

Fund managers of the National Pension Scheme will soon be able to charge a higher fund management fee. Read also Canada. Commission on Aging to hear about COVID-19 impact on elderly at Oct. 21 meeting A committee, comprising members of the Pension Fund Regulatory & Development Authority as well as representatives of the mutual fund industry, is finalising a proposal for a new fee structure for the fund managers of the NPS, Supratim Bandyopadhyay, chairman at the regulator, said at...

October 16, 2020
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