India's $35 Billion Government Pension Fund Sees Stock Boost
- Government employees may get to invest 50% savings in stocks
- Regulator mulls raising cap to 75% for private-sector savers
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India’s $2.3 trillion equity market has surged in recent years, and is about to get a new endorsement -- from the nation’s pension regulator.
“We are pressing the government to increase the equity proportion for government employees, and expect a favorable response very soon,” from the Finance Ministry, Hemant Contractor, chairman of the Pension Fund Regulatory and Development Authority, said in an interview. The PFRDA has called for a bump to 50 percent, from 15 percent -- to match the maximum for private-sector pensions overseen by its National Pension System arm.