Pension Bill is first published in May 2013. Pension Bill contains some measures that is given below:
- Improve the pension of state system through the introduction of single-tier state pension.
- In state pension age to 67 manage future changes to the state pension age including and bringing forward the increase.
- Improve the Range of benefits are associated with loss.
- Publish new legal objectives for the regular Pensions.
- Pension bill allows foreign direct investment in country's pension sector and its attempt by the government to attract more capital flows and 26% stake in pension funds approved for insurance sector.
- The pension Bill would provide wide choice to invest their funds and depending on their capacity to take risk.
- The pension Bill will make pension fund regulatory and development Authority.
- A key economic improve the pension Bill that provides for investment of funds in market and open the sectors to 26% FDI was passed on Wednesday Lok Sabha passed it.
- The subscriber getting assured returns shall be allowed to opt for investing funds and provide minimum assured get back.
- From Regarding Individual pension account subject to the conditions will be allowed withdrawals and at least one of that pension fund managers shall be from the public sector.
- From all stakeholders establish vibrant pension advisory committee with representation.
- It will have arrangement for withdrawals for limited purposes from one tier pension account.
- NPS having 52.83 lakh subscribers was 35, 000 crore
- The bill get to grant statutory status to the pension fund regular and development authority.