HomeFinanceGood News! PFRDA is bringing another pension scheme, minimum returns will be...

Good News! PFRDA is bringing another pension scheme, minimum returns will be guaranteed

PFRDA / Pension Scheme: The Pension Fund Regulatory and Development Authority (PFRDA) is preparing to introduce a pension scheme that guarantees minimum returns.



PFRDA / Pension Scheme: The Pension Fund Regulatory and Development Authority (PFRDA) is preparing to introduce a pension scheme that guarantees minimum returns. The Pension Authority is negotiating with pension funds and actuarial firms in this regard. Based on this interaction, the proposed plan will be prepared. PFRDA President Supratim Bandopadhyay has given information about this. He said that the authority is preparing to introduce a pension scheme that guarantees minimum returns.



Fixed Return Plan
Bandopadhyay said that under the PFRDA Act, we are allowed to start a minimum fixed return scheme. Under Pension Fund (PF) schemes, managed funds are mark to market. So obviously there are some ups and downs and the valuations are based on market fluctuations. There may be some people who would like minimum fixed returns. Therefore, we are working with our pension fund managers and some actuarial firms to determine the ideal level of minimum guarantee that can be given.



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Guarantee will be market linked
Despite this, he said that the guarantee would be linked to the market, as the fund managers would have to decide the guaranteed portion of the return on investment. When asked if PFRDA will offer this scheme in the current financial year, he said that we will try. This is a product that we are preparing ourselves.



About APY and NPS
He said that National Pension System i.e. NPS and Atal Pension Yojana i.e. APY are products which have been made in consultation with the Ministry of Finance. However, the PFRDA has added several features to the National Pension System (NPS) scheme, as the original product was envisaged by the government and the authority helped create the product. He said the same is the case with Atal Pension

 

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Pravesh Kumar is associated with Informalnewz since last 5 years and head content department. He has done bcom in finance and loves writing.

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