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Pension schemes under pressure: IRDA chief
Hyderabad, May 29: Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority (IRDA) N Rangachary said on Thursday.
Hyderabad, May 29: Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority (IRDA) N Rangachary said on Thursday.
"The pressure is greater, particularly in developing countries like India, because of low returns on investments and reluctance of members to join these schemes", Rangachary said in his brief opening remarks at the second conference on ‘Private Pensions in Asia' here.
The two-day conference is being jointly organised by IRDA, Paris-based Organisation for Economic Co-operation and Development (OECD), Institute of Insurance and Risk Management (IIRM) and International Network for Pension Regulators and Supervisors (INPRS).
The critical challenges facing the pension systems, teething troubles of the regulators, problems of private pension providers in designing and marketing the products and reforms of occupational pension system and regulatory mechanisms with a particular focus on India are among the issues high on the agenda.
Setting the tone for the two-day deliberations, Rangachary, who is due to retire on June eight, said "there is a confusion as to whether the pension schemes should be administered by a regulator or the private players be given freedom to devise and implement their schemes".
Bureau Report
The two-day conference is being jointly organised by IRDA, Paris-based Organisation for Economic Co-operation and Development (OECD), Institute of Insurance and Risk Management (IIRM) and International Network for Pension Regulators and Supervisors (INPRS).
The critical challenges facing the pension systems, teething troubles of the regulators, problems of private pension providers in designing and marketing the products and reforms of occupational pension system and regulatory mechanisms with a particular focus on India are among the issues high on the agenda.
Setting the tone for the two-day deliberations, Rangachary, who is due to retire on June eight, said "there is a confusion as to whether the pension schemes should be administered by a regulator or the private players be given freedom to devise and implement their schemes".
Bureau Report