New Delhi: In a move that could materially widen access to pension products, the Pension Fund Regulatory and Development Authority (PFRDA) board has given an in-principle nod to allow scheduled commercial banks to directly set up pension funds to manage the National Pension System (NPS). The move is expected to deepen distribution and increase competition among fund managers.The proposed framework seeks to address existing regulatory constraints that had so far limited bank participation in the pension sect ...

The Pension Fund Regulatory and Development ‌Authority (PFRDA), which ‌oversees assets worth more than $177 billion, said in a statement on ‌Wednesday that it had given in-principle approval for banks to independently set up pension funds to manage the NPS, subject to eligibility norms aligned with the Reserve Bank of India's guidelines. Banks will have to meet eligibility criteria linked to net worth, ‌market capitalisation, ‍and prudential soundness, it added. Currently, banks ‍serve as points of presenc ...

Core Viewpoint - The Dutch occupational pension system, the largest in the European Union, will transition to a new system starting January 1, which will no longer guarantee benefits, enabling the sector to invest in riskier assets [1] Group 1: Transition Details - The new system will allow the nearly 2-trillion-euro ($2.35 trillion) pension sector to diversify its investment portfolio by purchasing riskier assets [1]