Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Reliance MF gets govt nod to launch equity-oriented pension scheme
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • Reliance MF gets govt nod to launch equity-oriented pension scheme

Reliance MF gets govt nod to launch equity-oriented pension scheme

FP Archives • December 31, 2014, 16:33:39 IST
Whatsapp Facebook Twitter

New Delhi: Leading fund house Reliance Capital Asset Management Company has got government approval for first ever equity-oriented pension scheme giving tax benefits to investors. The government has notified Reliance Retirement Fund as a ‘Pension Fund’ under a relevant section of the Income Tax Act offering tax deductions to individuals for investments up to Rs 1.5 lakh in a financial year. [caption id=“attachment_454734” align=“alignleft” width=“380”] ![The Reliance Mutual Fund logo.

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Reliance MF gets govt nod to launch equity-oriented pension scheme

New Delhi: Leading fund house Reliance Capital Asset Management Company has got government approval for first ever equity-oriented pension scheme giving tax benefits to investors. The government has notified Reliance Retirement Fund as a ‘Pension Fund’ under a relevant section of the Income Tax Act offering tax deductions to individuals for investments up to Rs 1.5 lakh in a financial year. [caption id=“attachment_454734” align=“alignleft” width=“380”] ![The Reliance Mutual Fund logo. Image courtesy RMF](https://images.firstpost.com/wp-content/uploads/2012/09/reliancemf_380RMF.jpg) The Reliance Mutual Fund logo. Image courtesy RMF[/caption] This is the first pension fund offering equity-oriented option, thereby enabling investors to earn competitive returns that can help beat inflation. So far, only two fund houses have been allowed to launch such pension schemes, but both of them offer only one plan each which are predominantly debt-oriented. Besides, UTI and Franklin Templeton MFs had got approvals to launch their Pension funds more than 15 years ago. The latest ‘pension fund’ notification for Reliance Retirement Fund comes at a time when the market regulator Sebi has asked its Mutual Fund Advisory Committee and the industry body AMFI (Association for Mutual Funds in India) to prepare a draft plan for pension products by mutual funds. While mutual funds can launch pension products, they mostly do not offer tax benefit equivalent to the similar schemes from insurance companies. Barring two mutual fund schemes – UTI Retirement Benefit Pension Fund and Templeton India Pension Plan (formerly known as Kothari Pioneer Pension Plan) – an individual does not get tax benefit at the time of investing in a mutual fund pension scheme. “Globally, retirement is one of the largest categories of investments whereas in India, it is still in a nascent stage. In the US, retirement asset to GDP is nearly 80 percent whereas in India, it is only about 15 percent,” Reliance Capital Asset Management Company CEO Sundeep Sikka said. Reliance Capital Asset Management (RCAM), part of Anil Ambani-led business conglomerate Reliance Group’s financial services arm Reliance Capital, runs Reliance MF. The government said in a notification dated December 23 that Reliance Retirement Fund has been notified as “a pension fund for the purposes of the said clause (section 80C of the Income Tax Act) for the assessment year 2015-16 and subsequent assessment years”. PTI

Tags
Reliance Capital Pension equity Retirement Reliance MF
End of Article
Written by FP Archives

see more

Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV