The Hindu Business Line : Cabinet defers decision on setting up pension regulatory body

THE Cabinet today deferred its decision on setting up a full-fledged Pension Fund Regulatory and Development Authority (PFRDA) as it could not reach a consensus on the issue.

According to Government sources, the option of promulgating an Ordinance for establishing the regulatory body, on the lines of the Insurance Regulatory Development Authority and the Securities and Exchange Board of India is being considered.

PFRDA is currently an interim body under the Finance Ministry. It will become a statutory body only when the Government enacts the legislation.

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