INSUBCONTINENT EXCLUSIVE:
and Development Authority, said in an interview in New Delhi Friday
The PFRDA has called for a bump to 50 per cent, matching the maximum for private-sector pensions overseen by its National Pension System
corporate-governance best practices
pension regulator since 2014, said the new code will help improve the professionalism of business management, with challenges ranging from
the misuse of corporate funds to boards taking insufficient action when things go wrong.
Government employees contribute about 87 per cent
of the 2.3 trillion rupees ($35 billion) overseen by the NPS, which started in 2004 and later opened to all citizens for voluntary
Contractor said his agency has pressed for legislation allowing workers to shift from that plan to the NPS.
With interest rates trending
subscribers to 75 per cent, he said, adding that the strategy does carry risk.
Pension funds from Japan to Australia have taken on greater
risk over time, conferring increased volatility
savings have declined as a share of the economy from a peak a decade ago.
But with risk comes the potential for outsized gains
terms in 2017, compared with the 3.1 per cent on Indian government bonds according to ICE Bank of America Merrill Lynch data.
Contractor saw
less need to expand the cap on investment in corporate bonds, which is currently set at 40 per cent of the portfolio
He also ruled out investing in overseas markets for some time to come, given the likelihood of better returns at home.
The assets overseen
by the NPS are managed by the following:LIC Pension Fund Ltd
Kotak Mahindra Pension Fund Ltd
Reliance Capital Pension Fund Ltd
Birla Sunlife Pension Management Ltd
HDFC Pension Management Co
ICICI Prudential Pension Funds Management Co
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