Pension fund regulator to begin operations from New Year

By Our Banking Bureau | 09 Dec 2003

1

Hyderabad: The much-awaited Pension Fund Regulatory and Development Authority (PFRDA) is scheduled to begin operations from January 1 next year offering defined contribution schemes to the newly-recruited Central Government staff, the Joint Secretary in the Union Ministry of Finance, Mr U.K. Sinha, announced here on Monday.
Addressing the representatives of the insurance industry here at the Eighth Insurance Summit, Mr Sinha said, "A resolution was issued by Government on October 10 constituting an interim PFRDA. It is expected that the new pension system would be functional from January 1, 2004."

The process of setting up of a Central Record-keeping and Accounting Agency and Pension Fund Managers (PFMs) would be completed in the next three to four months. Till the time these are in place, an interim arrangement was being put in place, he said.

 

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more