Pension Fund Regulatory and Development Authority has notified on 15th July, 2021 that the aggregate holding of equity shares in the pension fund by a foreign company shall not exceed seventy- four percentage of the paid-up capital of such fund or such percentage as may be approved for an Indian Insurance Company under the Insurance Act,1938, whichever is higher.
The equity shares of the foreign company can be held either by itself or through its subsidiary companies or its nominees or by an individual or by an association of persons whether registered or not under any law of a country outside India.
The Pension Fund Regulatory and Development Authority (Pension Fund) (Sixth Amendment) Regulations, 2021 has amended the Regulation 8(1)(g). The permissible percentage of the paid-up capital was forty-nine before. This is now increased to seventy-four percentage.
