It clocked in more than 52 lakh new subscribers during the financial year 2020-21.
In a letter to all the collectors, the Department of Social Security and Empowerment of Persons with Disabilities said, "Starting from 01.04.2020, pension under NSAP/MBPY will not be disbursed without Aadhaar."
However, the court has reiterated that people without Aadhar can not be placed in a disadvantageous position.
Along with Equity Linked Savings Schemes there is one more category of funds that provides tax benefits to the investors. Such schemes are termed as ‘Pension schemes‘ by MF. Read this space to know more about these schemes and its features.
Investors are often perplexed over investments to choose for retirement planning. The NPS which are also made available to the aam junta has only added to investor‘s confusion. Financial advisor Renu Pothen draws a comparison between NPS and MF and advices on which one to choose for retirement planning.
Market regulator Sebi today said mutual funds can come out with pension schemes and it is in touch with finance ministry to sort out the taxation issues.
It's a 15-year drought the mutual fund industry is anxious to put an end to. However, repeated pleas to SEBI to provide more clarity on guidelines for pension schemes have been in vain, reports CNBC-TV18's Mitra Joshi and Gopika Gopakumar.
SEBI Chairman UK Sinha has urged the mutual fund industry to increase its presence and portfolio for pension products. That was the key takeaway from the chairman's address at the Mutual Fund Summit today, reports CNBC-TV18's Tanvi Shukla.