Pension Fund | Pixr8 News

New Delhi, Jun 22nd, 2020: Amid growing tensions between India and China, the finance ministry has proposed putting restrictions on pension fund investments from any of India's bordering countries. Foreign investment in pension funds regulated by the Pension Fund Regulatory and Development Authority (PFRDA) is capped at 49 per cent under the automatic route. According to a draft notification circulated for comments on Friday, "A government approval would be required for the investing entity or individual from any of the bordering countries including China. The relevant provisions of FDI policy issued from time to time would apply in all such cases." Any foreign investment from these countries will be subject to approval from the government. The restriction would be applicable ...

LIC Pension and Group Schemes Vertical, which is looking after group schemes and superannuation business, has created a new record by collecting more than Rs 1 lakh crore premium income during the current financial year. This is the first time ever any single vertical of the insurer has crossed this record premium income figure, LIC said in a statement. Pension and Group Schemes Vertical of LIC provides Employees Retiral Funds' Management Solution to the who's who of India Inc and has been steadily holding more than 80 per cent market share in NBPI post opening of the life insurance industry, it said. This vertical of LIC manages funds of well over Rs 7 lakh crore managing through about over 80,000 gratuity, superannuation and leave encashment schemes, it said.

Tag: Pension Fund

India China standoff: Indian Ministry proposes restrictions on Neighbors Countries Investment

LIC Pension and Group Scheme Vertical’s premium income crosses Rs 1 lakh crore