No designs to permit annuity assets to put resources into new businesses'
Supratim Bandyopadhyay, executive of the Pension Fund Regulatory and Development Authority (PFRDA), said that there was no prompt intent to permit annuity reserves, including the National Pension System, to put resources into new companies. The reaction comes amid information reports that the public authority might permit Life Insurance Corp. of India (LIC) and the Employees' Provident Fund Organization (EPFO) to put resources into new companies.
Bandyopadhyay, notwithstanding, said the proposition isn't off the table yet determining the right valuation of a startup is troublesome.
NPS mediators called points of quality (PoPs) charge 0.25% per the commitment to the NPS. The benefits store controller as of late permitted PoPs to empanel individual specialists to disseminate the NPS. Notwithstanding, no choice has been made on the compensation, Bandyopadhyay said. NPS has conveyed returns of 12.94% throughout the most recent 12 years for its value plans, 9.92% over its corporate security plans and 9.4% over its administration security plans in recent years, Bandyopadhyay added.
The PFRDA additionally widened the venture universe from stocks in the F&O fragment with a market cap of ₹5,000 crores to the main 200 organizations on BSE and NSE to permit annuity assets to get back from a more extensive scope of stocks. Supporters additionally get a duty allowance of ₹1.5 lakh for interest in NPS Tier 1 under Section 80 C and ₹50,000 for interest in NPS Tier 2 under Section 80 CCD (1B).