Page 2 - Pension Funds

40% wealth and pension funds prefer India over China, shows study

Almost 40% of investors chose India as the most attractive emerging market, while less than a quarter selected China in a survey

US pension fund's index switch: Indian equity mkts set for $3.6 bn bonanza

Changing benchmark will trigger $3.6 bn inflows into domestic equities

Reliance Industries raises Rs 20,000 crore through 10-year bonds at 7.79%

The majority of the subscribers were large insurance companies, and pension funds, market participants said

PFRDA to allow pension funds for investments in sovereign green bonds

The AUM is expected to touch Rs 11 trn by the end of FY24

PE funds investment in warehousing saw 45% rise in 2022, shows data

This comes when total leasing of warehousing space in India increased from 51.3 million square feet in 2022-23, compared to 51.2 mn sq ft in 2021-22

High pension recipients can get short-changed in bailouts

Employees seeking larger pensions are betting on government intervention to address deficit. However, past precedents show governments cap the pension in such situations

EPFO extends deadline to apply for the higher pension to June 26

Earlier, the online facility was to remain available only till May 3, after EPFO had earlier extended the timeline in late March, after receiving multiple requests from employee organisations

PFRDA increases Ombudsman's upper age limit to 70 years from 65 years

Pension Fund Regulatory and Development Authority (PFRDA) has increased the upper age limit by 5 years for Ombudsman to 70 years. As per the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations 2015, the upper age limit was 65 years. According to the gazette notification dated March 27, the PFRDA has amended that regulation by replacing the upper age limit for Ombudsman from 65 to 70 years. "These regulations may be called the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) (Amendment) Regulations, 2023," the notification said. These shall come into force on the date of their publication in the official gazette, it said. Ombudsman appointed by PFRDA receives, considers and facilitates resolution of complaints or grievances, which fall within the ambit of the regulations. A person appointed as an Ombudsman holds office for a period of three years and would be eligible for reappointment for another t

No provision to refund accumulated corpus under NPS to state govt: FinMin

MoS for finance says five states have reverted to Old Pension Scheme for their staff

Pension funds trim India bets, assets down nearly Rs 60,000 cr in 2022

China's reopening of the economy could be one factor for the trend, say analysts

NPS partial withdrawal rule changing for these subscribers from Jan 1

PFRDA had launched the online partial withdrawal facility in January 2021 to help subscribers cope with the Covid-19 pandemic

Cabinet secretary-led panel to pick candidate for PFRDA chairman on Dec 16

A search panel headed by the Cabinet secretary is scheduled to interview shortlisted candidates on December 16 for the post of chairman of Pension Fund Regulatory and Development Authority (PFRDA), sources said. The post of the pension fund regulator will fall vacant following completion of term of incumbent Supratim Bandyopadhyay next month. The Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet secretary would interview shortlisted candidates, sources said. The selected name from the interview will be sent to the Appointments Committee of the Cabinet headed by the Prime Minister for final approval, they added. Besides the cabinet secretary, other members of FSRASC include financial services secretary and two independent members. The FSRASC is also free to identify and recommend any other person, on the basis of merit, who has not applied for the post. As per the Pension Fund Regulatory & Development Authority Act, the chairperson can hold office

EPFO board recommends extending proportionate pension benefits to members

Decision to extend pension scheme beyond 35 years of service taken in 232nd CBT meet on Monday; withdrawal benefits available even to those who've contributed for less than six months

UK pension funds almost collapsed amid market meltdown: Bank of England

Pension funds managing vast sums on behalf of retirees across Britain came close to collapse amid an "unprecedented" meltdown in UK government bond markets

Edelweiss raises $425 mn for 3rd special situation fund, seeks $1 bn corpus

Company says it has investment commitment from insurance companies, pension funds, high net worth individuals

Govt bonds and immediate annuity plans: 2 options for retirement income

The first offers a guaranteed rate of return for long; the other secures income for the rest of your life

Investors commit $7.1 trn of assets in pursuit of 1.5 deg C climate goal

A coalition of pension funds and insurance companies have committed to managing $7.1 trillion of assets in line with the Paris Agreement's goal of limiting warming to 1.5 degrees Celsius

Don't change your pension fund manager unless investment lags others

Currently, variability in performance for investor portfolios over five-year horizon is low

EPFO calls for increasing retirement age to ease pressure on pension funds

The EPFO has almost 60 million subscribers and it has a cumulative pension and provident fund corpus of more than Rs 12 trillion

SWF and public pension fund assets in US hit record $31.9 trillion: Report

Assets held by the world's sovereign wealth and public pension funds rose to a record $31.9 trillion in 2021 thanks to rising US stock and oil prices