The Insurance Regulatory and Development Authority (Irda) has decided to do away with the 4.5 per cent guaranteed annual return clause from pension products. In a draft exposure on the pension plans, the insurance regulator, while allowing more flexibility to insurers, said these products should carry an “assured benefit” disclosed at the time of issuance.
http://www.business-standard.com/india/news/irda-scraps-45-assured-returnpension-plans/444574/
