The higher FDI limit will not have a huge impact on the pension industry, says Hemant Contractor, Chairman of the Pension Fund Regulatory and Development Authority (PFRDA).
“Foreign Direct Investment (FDI) relating to pension industry is very much a part of the Insurance Bill. So, once the Insurance Bill gets approved automatically the pension FDI also gets increased from 26 to 49 percent. So, there is nothing separate that has to be done for this,” he said.
Contractor said the process will have to be followed. “So once it is done for the insurance it will automatically get done for pension as well,” he added.