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Investment norms for all citizens pension scheme by mid-April

Investment norms for all citizens pension scheme by mid-April
PTI
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First Published: Fri, Apr 03 2009. 03 22 PM IST
Updated: Fri, Apr 03 2009. 03 22 PM IST
New Delhi: Interim pension regulator Pension Fund Regulatory and Development Authority (PFRDA) will come out with investment guidelines for its mega pension plan by the middle of this month.
“Investment guidelines will be finalised by the middle of the month (April)... 1 May is the date it (pension scheme for all citizens) will be launched,” PFRDA chairman D Swarup said.
The authority is set to launch the pension scheme for all citizens from 1 May after getting nod from the Election Commission.
The Deepak Parekh Committee, constituted by the PFRDA, has recommended investment norms for the new pension system (NPS).
The committee had suggested options to subscribers to invest in shares of the 50 stocks of the index Nifty of the National Stock Exchange, government bonds, liquid assets of mutual funds, state government bonds, rated bonds of public financial institutions and public sector companies, among other things.
The PFRDA invited public comments on the recommendations, as well as certain modifications proposed by it to these suggestions.
In August 2008, the government advised the PFRDA to extend the NPS, currently subscribed to by government employees, to all citizens.
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First Published: Fri, Apr 03 2009. 03 22 PM IST