Day: October 7, 2020

Exclusive: No single pension regulator; retirement, annuity plans will remain under IRDAI purview: Finance Ministry



diagram, engineering drawing: Exclusive: No single pension regulator; retirement, annuity plans will remain under IRDAI purview: Finance Ministry


© M Saraswathy
Exclusive: No single pension regulator; retirement, annuity plans will remain under IRDAI purview: Finance Ministry

In what could be a missed opportunity, the finance ministry has decided that annuity plans will be regulated by IRDAI, while PFRDA will oversee pension products. This means that the current regulatory structure will continue and pension products across the financial sector will be overseen by various financial regulators.

In 2015, PFRDA had sought permission from the government to be the sole regulator for all pension products, including those sold by insurers.

PFRDA has agreed to the new arrangement on the condition that any unregulated pension product in the market will come under its purview.

Missed opportunity

For customers, having a single regulator would have been an easier solution. At present, pension products having retirement benefits as well as annuity components come under the ambit of multiple regulators. If there was a

Read More

Biden Or Trump Will Keep The Money Spigots Open

Trump or Biden: who will be our next president? That’s the most pressing question in America right now. And in less than nine weeks, we’ll get our answer.

As I type, Biden leads in most polls. But betting markets say it’s a coin flip. Polls tend to be wrong, and betting markets are usually right.

But I’m not writing you today to predict who’ll come out on top. Or guess at what might change depending on who wins. (I’ll leave that to the talking heads on TV.)

Instead, I want to show you the one thing that’s guaranteed to happen no matter who wins this November. I’ll tell you in a moment, and I’ll show you why this is a historic opportunity for us as investors.

But first, I want you to take a peek at the most important chart in the world today. It’s

Read More

You don’t need perfect credit to get a personal loan

A low credit score doesn’t have to stand in your way if you want to get a personal loan to cover an emergency or consolidate your debts.

Borrowers with bad credit, which is a FICO score below 630, may need to put in some extra work to qualify for a personal loan. But taking these steps can not only help you get approved, they could also get you a cheaper interest rate.

Clean up your credit, shrink your debt

Before you apply for a personal loan, get a copy of your credit report to see what the lender will see on it, says Adrienne Ross, a Washington-based certified financial planner. You can get one free copy of your report from all three major credit bureaus at annualcreditreport.com.

The details on your credit report can show you why your score is low and signal how to address the issues before a

Read More