he pension and insurance sector regulators may be about to engage in a turf war over pension plans offered by insurers. The Pension Fund Regulatory and Development Authority (PFRDA) has written to the government seeking clarity on the issue.
"As pension regulator, we have the mandate to regulate all pension products. We have written to the finance ministry regarding this concern," said a senior PFRDA official, who didn't want to be named.
Most insurers and some asset management companies offer pension-linked products.
"The PFRDA Act 2013 confers on us the power to register and regulate pension funds, frame their investment guidelines and levy monetary penalties for violations under the Act," the PFRDA official said.
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