(a) whether the Government propose to allow the entry of private sector pension
funds in the country in line with the Dave Committee`s recommendations;
(b) if so, the details thereof;
(c) whether the Government propose to set up a separate Indian Pension Authority;
and
(d) if so, the details thereof?
MINISTER OF STATE OF THE MINISTRY OF SOCIAL JUSTICE AND EMPOWERMENT
SMT. MANEKA GANDHI
(a)&(b) The Dave Committee has recommended selection of six (6) professional pension
fund managers to manage the retirement funds.
(c)&(d) Dave Committee has recommended establishment of a new Regulatory Agency
by the name of Indian Pensions Authority. The core function of the proposed
Authority would be to oversee and supervise the functioning of the pension
system proposed by the Committee. The Ministry of Social Justice &
Empowerment has accepted the Report of the Committee and initiated action
accordingly.