The Pension Fund Regulation and Development Authority (PFRDA) has taken a big decision on pension fund investing. Now the pension will be invested in IPO and FPO. Speaking to reporters on Tuesday, PFRDA president Supreetam Bandyopadhyay said the company is now investing in 200 such companies, with a market cap of Rs 5,000 crore. He said PFM will now be invested in IPO, FPO and Offer for Sale issues. However, the criteria for the IPO remain to be determined. The same thing applies to FPOs.
Paytm IPO: Jack Ma and Warren Buffett get rich with Paytm’s IPO, earning 7 times
There is also a proposal to systematically revoke the bill introduced in Parliament, ”said Supratam Bandopadhyay. Nowadays, if you have a pension corpus of Rs 2 lakh at the time of retirement or 60 years, the insurance companies have to buy a pension plan (annuity) on which they get the pension. But the remaining 60 percent is exempt from withdrawal.
In addition, Bandopadhyay said talks were being held between the PFRDA and the government to make the company a regulator of the superannuation fund. These are allowed by the Income Tax Department and the rules are determined by the Ministry of Finance. “If the PFRDA is a regulator, we will ask all pensioners to file documents and then, after investigation, we can find out who is following the rules and who is not,” he said. If he does not, he will be asked to become part of the NPS.
Price game: Somewhere between Rs 50 and Rs 12 per kg, mustard oil is being sold between Rs 115 to Rs 223