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Center readies 26% FDI in pension plan
By agencies
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Monday, 14 November 2005, 20:30 IST
NEW DELHI: The finance ministry has approved 26 percent FDI in pension business that will pave the way for better management and usage of pension deposits.
The proposal is part of the redrafted Pension Fund Regulatory and Development Authority Bill, which will be tables in the winter session of the parliament.
The parliamentary standing committee on finance, which submitted its report during the last session of parliament, had also recommended capping foreign investments at 26 percent. Last year the government decided to promulgate an ordinance to set up a pension fund regulator however attempts to get a bill replacing the ordinance failed due to opposition by the communists.