Pension fund body mulls varying withdrawal options

PFRDA is looking at combining other assets like house as source of income for subscribers

The Pension Fund Regulatory and Development Authority (PFRDA) is exploring alternative mechanisms for introducing different variants of withdrawal options, a senior official said.
 
This could include systematic/phased withdrawal options, under which different combinations of withdrawal packages with/without annuity options can be offered to subscribers.
 
PFRDA is also looking at possibilities of combining other assets like house as source of income for subscribers, together with the pension asset.
 
“We are looking at all options for optimising the pension wealth for retirees, including SWP/phased withdrawal, combined with tax exemption on entire pension wealth and housing as a source of supplementary income, particularly in view of the subdued and shallow annuities market,” PFRDA whole-time member (finance) R V Verma said.