The Finance Ministry is planning to launch a revamped and retail investor-friendly CPSE Exchange Traded Fund (ETF) by October in which cash rich EPFO and NPS could park their money along with individual investors.
Government needs to soon begin building a pension net for employees working in the private sector to avoid bearing the heavy fiscal burden of providing minimum sustenance to those who end up having no pension at all, Crisil Research said on Tuesday.
Pension regulator PFRDA has proposed allowing subscribers of National Pension System (NPS) to withdraw up to 25 percent of accumulated funds for meeting medical treatment expenses, higher education of children, marriage of daughters and house purchase.
Higher volatility in the debt market, following the Reserve Bank's liquidity tightening measures to contain rupee's freefall, has adversely affected the schemes under the National Pension System, a report said.
Despite the National Pension System (NPS) throwing up a large opportunity to life insurers, there are not enough players in the system to take advantage of this, the pension fund regulator PFRDA Monday said.