[ By Bobby Anthony ]Union Finance Minister Nirmala Sitharaman has proposed amendments to separate government pension trusts from the Pension Fund Regulatory and Development Authority Act (PFRDA) to strengthen the pension fund regulatory body, in her budget speech.“Necessary amendments would be carried out in the Pension Fund Regulatory and Development Authority Act. It will also...
Union Finance Minister Nirmala Sitharaman has proposed amendments to separate government pension trusts from the Pension Fund Regulatory and Development Authority Act (PFRDA) to strengthen the pension fund regulatory body, in her budget speech.
“Necessary amendments would be carried out in the Pension Fund Regulatory and Development Authority Act. It will also facilitate separation of NPS Trust for government employees from PFRDA,” Sitharaman said while presenting the Union Budget 2020-21.
“We wish to infuse into the universal pension coverage with auto enrolment facility. Also, we wish to place such mechanism which will enable inter-operability and provide safeguards to the accumulated (pension) deposits,” she said.