Turning down the suggestion of Parliamentary Standing Committee, the Union Cabinet also decided that there would be no guarantee of assured returns on schemes by pension funds.
The Pension Fund Regulatory and Development Authority Bill 2011, which seeks to open the pension sector to private sector and foreign investment, will be taken up for consideration and passage in the Winter Session of Parliament beginning November 22.
The provisions concerning the FDI cap will be incorporated in the regulations once the Bill becomes
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