Industry keen to tap the retirement market but currently mutual funds products do not get tax benefits
SEBI has recently asked
AMFI to prepare draft guidelines for pension products.
The discussion to launch pension products has been going on in the industry for last four years. But it has not resulted in any concrete step, said a top official from an AMC.
Indian fund houses have avoided launching pension funds primarily because they are no tax benefits, as offered by insurance plans. “If pension products with tax benefit are launched, it will serve as a win-win situation for both AMCs and investors,” says Sales Head of a top mutual fund company.
Currently only UTI and
Franklin Templeton have pension products that enjoy tax exemption.
