Tuesday, October 4, 2022

Pension money will now be allowed to be invested in IPO and shares, PFRDA will announce new rules in 2-3 days

Pension Money in IPO: The money of pension fund will be invested in the coming IPO very soon in the stock market. Pension fund regulator PFRDA may soon allow Pension Fund Managers (PFMs) to invest in IPOs and stocks. A senior official of PFRDA has said this. If this happens, then the chances of getting higher returns to the subscribers of the pension scheme will increase. 

Pension money will be invested in IPO 

Supratim Bandyopadhyay, Chairman, Pension Regulatory and Development Authority (PFRDA), told reporters that with the increase in interest during the pandemic, we aim to increase the number of subscribers collecting money for retirement to 10 million by FY 2022. . At present, Pension Fund Managers (PFMs) can invest the equity component of the corpus only in the options and futures (F&O) segment stocks with a market cap of more than Rs 5000 crore.

‘Will announce new rules in 2-3 days

Officials say this limits the opportunities for fund managers, who have been able to deliver a compound annual growth rate (CAGR) of 11.31 percent on equity investments since the launch of the new pension scheme. Pointing to Avenue Supermarkets, he said that PFM could not invest here due to restrictions. Bandyopadhyay said that in two or three days we will notify the rules, which are more liberal in those categories where equity investments can be made. 

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Pension money can be invested in IPO, FPO, OFS

Bandyopadhyay said that under the new rules, pension fund managers will be able to invest in IPOs, Follow Public Offers (FPOs), Offer for Sale (OFS) of companies. Along with this, there will be a wide range of investments in stocks, which will be increased to the top 200 stocks traded on NSE, BSE. Bandyopadhyay said that he himself wants to invest in more and more equities because the returns are good here. 

‘Will add 1 crore new subscribers

So far, equity investments have given a return of 11.31 percent, corporate debt has given a return of 10.21 percent and government securities have given a return of 9.69 percent. At present, there are 4.37 crore subscribers in NPS, of which 2.90 crores are under Atal Pension Yojana. Bandyopadhyay says that by the financial year 2022, we are aiming to increase the number of subscribers by 10 million. He said that despite the Covid epidemic, 1.60 lakh new subscribers have been added in the first quarter.

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