PENSION REFORMS BILL LIKELY

NEW DELHI: Finance Ministry sources said The Pension Reforms Bill is likely to be adopted in the monsoon session. - PTI

PFRDA bill likely in monsoon session of Parliament

NEW DELHI: The pension reforms bill to set up a regulator and give more freedom to subscribers for investing their retirement money is likely to be tabled in the monsoon session of Parliament, Finance Ministry sources said on Tuesday.
“Amendments are ready. Hopefully, it would be tabled in the upcoming monsoon session of Parliament,” the sources said.

The Pension Fund Regulatory and Development Authority Bill (PFRDA) was introduced by the Finance Minister Mr P Chidambaram way back in 2005 to replace the ordinance promulgated in 2004 for setting up the regulator.

The bill was referred to the Parliamentary Standing Committee after the Left parties opposed the legislation. The standing committee recommended the bill with some modifications.

But the amended bill could not be tabled in Parliament due to persistent opposition from the Left. - PTI