October 2020

16Oct

India. Regulator Plans To Hike Fee Charged By NPS Fund Managers

Fund managers of the National Pension Scheme will soon be able to charge a higher fund management fee. Read also Canada. Commission on Aging to hear about COVID-19 impact on elderly at Oct. 21 meeting A committee, comprising members of the Pension Fund Regulatory & Development Authority as well as representatives of the mutual fund industry, is finalising a proposal for a new fee structure for the fund managers of the NPS, Supratim Bandyopadhyay, chairman at the regulator, said at...

October 16, 2020
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September 2020

29Sep

Longevity gap: Poverty remains a scourge. India must focus on economy, public health

At 69.4 years, India’s life expectancy has made almost a 20 year leap from 49.7 in 1970-75. While this is no mean feat, the sobering reality is that Japan was here in 1960 and China in 1990. The link between poverty and life expectancy is fairly obvious looking at the India story. People in Delhi, Kerala, Jammu & Kashmir, Himachal Pradesh, Punjab, Maharashtra and Tamil Nadu with lower incidence of extreme poverty live longer than the national average. Poorer...

September 29, 2020
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28Sep

Canada’s pension fund plans to invest a third of funds in emerging markets by 2025. India is a major component

Canada’s massive pension fund plans to invest up to a third of its funds in emerging markets over the next five years and India is an important destination, the fund’s Asia Pacific head, Suyi Kim, told CNBC.Domestic consumption, technology and increasing demand for infrastructure to support the growth underpin many of the investment themes and opportunities that CPPIB looks at in India, Kim said.The growth rate of South Asia’s largest economy has taken a hit over the last few years...

September 28, 2020
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18Sep

India. More pension fund managers by December, expense ratio to be relooked: PFRDA

Soon, National Pension System (NPS) subscribers could have a longer list of fund managers to choose from for managing their voluntary retirement contributions. “We will be coming out with our RFP (request for proposal) in another 2-2.5 months. So, by December, the RFP should be out. Everyone is welcome to come and manage it. It will not be restrictive (in terms of numbers), but there will be entry barriers to ensure only serious players come in,” said Supratim Bandyopadhyay,...

September 18, 2020
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August 2020

31Aug

India. PFRDA mulling launching minimum assured return-based pension scheme

The Pension Fund Regulatory and Development Authority (PFRDA) is working on a minimum assured return-based pension scheme, its Chairman Supratim Bandyopadhyay said. The pension authority is in talks with pension funds and actuarial firms to work out the modalities of the proposed scheme, he said. "Under the PFRDA Act, we have the mandate to launch a minimum assured return scheme. Under pension fund (PF) schemes, the funds that are managed are mark-to-market. So obviously there is some volatility and...

August 31, 2020
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28Aug

Job and Wage Losses in Informal Sector due to the COVID-19 Lockdown Measures in India

By Xavier Estupinan, Mohit Sharma This paper estimates the job and wage losses of workers, using the lens of informality, due to lockdown measures undertaken by the Government of India to tackle the spread of COVID-19. It focuses on the first two lockdowns when containment measures in India were most stringent in the world. We estimate that 104 million and 69.4 million informally employed workers were at risk of job loss in Lockdown 1.0 and Lockdown 2.0 respectively. Informal...

August 28, 2020
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03Aug

India. Panel on labour suggests social protection for informal workers

The panel called for a framework of a model composite scheme to bring greater uniformity among states The committee sought the creation of a social security fund for unorganized sector workers The parliamentary panel on labour has batted for universal social protection for unorganized sector workers and has proposed a blueprint for the Centre to include gig-economy workers, while acknowledging rapid changes in the labour market. The parliamentary panel, which submitted its report to Lok Sabha speaker Om Birla...

August 3, 2020
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July 2020

30Jul

India:WhatsApp to launch insurance and micro-pension pilot schemes

Messaging app WhatsApp India is set to launch pilot schemes in insurance, micro-pension and lending in partnership with domestic service providers. Mr Abhijit Bose, head of WhatsApp India, said that the app has already run service delivery pilots with lenders such as ICICI Bank, HDFC Bank and Kotak Mahindra Bank, according to a report by Financial Express. WhatsApp is yet to get the central bank’s nod to launch full-fledged payments services through the Unified Payments Interface (UPI) channel and...

July 30, 2020
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28Jul

India. Govt employees retiring during pandemic will get ‘provisional pension’

The payment of 'provisional pension' will initially continue for a period of six months from the date of retirement and the period of 'provisional pension' may be further extended up to one year in exceptional cases. Government employees retiring during Covid-19 pandemic will be receiving “provisional" pension till their regular Pension Payment Order (PPO) is issued and other official formalities are completed, the Ministry of Personnel, Public Grievances & Pensions said on Monday. MoS Personnel, Public Grievances & Pensions,...

July 28, 2020
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23Jul

WhatsApp to pilot projects to deliver credit, insurance and pension to users in India

WhatsApp plans to offer credit, insurance and pension products to lower-income individuals and those in rural areas in India and help digitize local small and medium-sized businesses as the Facebook service looks to make a digital payments push in its biggest market by users. The instant messaging app maker has been working with banks -- including ICICI, Kotak Mahindra and HDFC -- in India for the past year to explore ways to bring financial services to individuals who have...

July 23, 2020
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