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Financial Market Implications of India's Pension Reform

Financial Market Implications of India's Pension Reform by Hélène Poirson
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India's planned pension reform will set up a proper regulatory framework for the pension industry and open up the sector to private fund managers. Drawing on international experiences, the paper highlights pre-conditions for the reform to kick-start financial development, including: (i) the buildup of critical mass; (ii) sufficiently flexible investment guidelines and regulations, including on investments abroad; and (iii) concurrent reforms in capital markets. Given the limited scale of the planned reform, the key challenge for India is to achieve sufficient critical mass early on. Options to address this challenge include granting permission for existing workers to switch to the new system or outsourcing all or part of the reserves of private sector provident funds to the new pension fund managers.
International Monetary Fund; April 2007
21 pages; ISBN 9781452765259
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Title: Financial Market Implications of India's Pension Reform
Author: Hélène Poirson