LIC chosen as default NPS annuity service provider

Pension fund regulator PFRDA has chosen state-run LIC as the default annuity service provider for subscribers exiting from New Pension System (NPS) and seeking withdrawal of accumulated pension wealth. Read more

Financial literacy and consumer education on insurance in India

The IRDA along with other stakeholders of the industry, has a responsibility of improving financial literacy in the country as well as to impart consumer education in insurance. Towards this end, IRDA has been working on and has implemented various initiatives.

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IRDA, SEBI, PFRDA, FMC may be merged into single agency

Supreme financial regulators like- Insurance Regulatory and Development Authority (IRDA), Securities and Exchange Board of India (SEBI), Pension Fund Regulatory and Development Authority (PFRDA) and Forward Markets Commission (FMC) should be merged into a Unified Financial Agency (UFA), suggesting legislative reforms in the financial sectors a government-appointed panel said recently. Read more