Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Administration August 31, 2011
India May Allow Foreign Investment in Pension Funds
August 31, 2011 (PLANSPONSOR.com) – India may allow foreign investment of up to 26% in the pension sector, giving global players access to roughly a $2 billion pool of assets, according to a news report by Reuters.
Reported by Tara Cantore
The recommendation by a parliamentary panel on a pending pension bill is the latest strike to economic reforms that have stalled as the government was paralyzed by scandals.
The government has been taking steps of late to make the country more investment friendly, backing in principle foreign direct investment in multi-brand retail, a reform that has been delayed for years, Reuters said.
Some of the reform measures, including a proposal to lift the cap on foreign holdings in insurance companies to 49% from 26%, require parliamentary approval.
Most of the 23 life insurance players in India, nearly all of which have a foreign partner holding a 26% stake, are eager to enter the pension fund market, analysts said.
You Might Also Like:
None of the Largest US Corporate Pension Funds are Less Than 75% Funded, Per Milliman
The firm’s 2024 research found at least three pension funds with more than 140% funding levels.
Julie Su’s Nomination for Secretary of Labor Passes Senate Committee
The vote was held in a closed session and advanced by a party-line vote; meanwhile, the Senate committee chaired by...
Benefits |
The Factors at Play in IBM’s Shift to a Cash Balance Plan Reviewed
IBM’s move away from the 401(k) match leads industry experts to evaluate the shortcomings of defined contribution plans in providing...