The India International Financial Services Centres Authority (IFSCA) published a consultation paper on proposed IFSCA (Pension Fund) Regulations, 2025, aimed at creating a regulatory framework to allow pension schemes to be launched from GIFT-IFSC. The proposals focus on developing a forex pension framework intended to serve non-resident Indians, persons of Indian origin and foreign expatriates. The consultation is framed by IFSCA’s powers under Section 13 of the International Financial Services Centres Authority Act, 2019, alongside Government of India notifications designating “schemes operated by a pension fund” as a financial product under the IFSCA Act (5 December 2024) and exempting the application of Section 25 of the PFRDA Act 2013 to financial products, services and institutions in the IFSC (1 October 2025). Key features outlined include voluntary participation, flexibility on contribution frequency and amounts, a range of investment options with multiple scheme types, diverse exit options, and the ability to integrate pension plans with medical policies or health insurance. IFSCA invited stakeholder feedback on the proposed regulations by 25 November 2025.

Original source View in tracker