The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Foreign firms eye up deregulated pensions sector

Foreign insurers, asset managers and banks are preparing to tap India's retirement savings. On August 23 the Indian government cleared a plan that is a first step towards pension deregulation.

New government employees will move to a defined contribution pension system in January next year instead of the defined benefit scheme to which government employees currently contribute. The plan will be managed by private managers and will be open to the self-employed or those who work in the vast unorganized sector as well as company and government employees.

UK Sinha, a senior finance ministry official, told a capital markets conference in Mumbai early last month that an interim pension regulator would be set up soon that will lay down the rules and license private fund managers to run the scheme. Investment rules were expected to be a lot more liberal than current ones, he added, and would allow for increased investment in equity as well as investment abroad.

HSBC chief executive Stephen Green, on a visit to India soon after the conference, told the media that his bank was keen to enter India's pension sector and would wait for the regulations.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree