Lok Sabha clears pension bill, foreign investors can hold 26% stake

NEW DELHI: After nearly a decade, the Lok Sabha finally cleared the pension bill that paves the way for individuals to plan for their post-retirement needs and allows foreign investors to acquire up to 26% stake in the sector. The Pension Fund Regulatory and Development Authority (PFRDA) Bill was passed by the lower House after some tough political negotiations that included the government accepting a crucial suggestion made by the parliamentary standing committee on finance headed by BJP's Yashwant Sinha.

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