|
||||||
|
|
|
|
|
|
|
|
|
 |
 |
 |
 |
Want to support Global Action on Aging? Click below: Thanks! |
 |
Pension Schemes Under Pressure Business Standard May 30, 2003 New Delhi - Pension
schemes across the world are coming under greater pressure due to low
returns on investments and public reluctance to join them, chairman of
Insurance Regulatory and Development Authority (IRDA) N Rangachary said
today in Hyderabad. "The pressure
is greater, particularly in developing countries like India, because of
low returns on investments and reluctance of members to join these
schemes," Rangachary said in his brief opening remarks at the second
conference on `Private pensions in Asia'. The two-day
conference is being jointly organised by IRDA, Paris-based Organisation
for Economic Co-operation and Development (OECD), Institute of Insurance
and Risk Management (IIRM) and International Network for Pension
Regulators and Supervisors (INPRS). The critical
challenges facing the pension systems, teething troubles of the
regulators, problems of private pension providers in designing and
marketing the products and reforms of occupational pension system and
regulatory mechanisms with a particular focus on India are among the
issues high on the agenda. Setting the tone
for the two-day deliberations, Rangachary, who is due to retire on June
eight, said "there is a confusion as to whether the pension schemes
should be administered by a regulator or the private players be given
freedom to devise and implement their schemes". The IRDA chairman wanted the delegates from Asia Pacific region to ponder over such challenges facing the sector. Copyright
© 2002 Global Action on Aging
|
