PFRDA to be sole regulator for all pension products: Government
Updated : December 21, 2019 12:23 PM IST
At present, pensions products are sold by both insurance companies as well as mutual funds, which makes Irdai and Sebi, as the regulators for those products.
In order to encourage more people to join the New Pension Scheme (NPS), he said PFRDA has made the proposal for doubling of the tax deductions under the scheme.
The body has also recommended that the government allow Systematic Withdrawal Plans (SWPs) for National Pension System (NPS) instead of buying annuities, he said.