More points to pension this year4 min read . Updated: 01 Jan 2014, 06:41 PM IST
The PFRDA now has not only the bark but also the bite to keep the industry in line
Year 2013 was a landmark one for the National Pension Scheme (NPS). After 10 long years of struggle, the Pension Fund Regulatory and Development Authority (PFRDA) Bill was finally cleared in Parliament in September 2013. With the passage of the bill, PFRDA, which until recently was working through an executive order of the government, got regulatory powers to run NPS. In other words, PFRDA can now penalize the entities it regulates. How does this help me, you may ask. It helps because the pension regulator can now ensure better compliance and protection for the subscriber (that’s you). This, in turn, is expected to boost the popularity of NPS.
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