Exposure draft on pension products

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By Sanket Kawatkar, Richard W. Holloway | 10 August 2011
In response to industry requests, the IRDA has released an exposure draft on pension products that would withdraw the earlier requirement for the products to guarantee a minimum accumulation rate on vested premiums. In separately issued guidelines to standardize net asset value (NAV) calculations for unit-linked funds, the IRDA has removed a requirement to use the former 'appropriation' and 'expropriation' pricing methodology.