India Allows Bespoke Pension Plans in $175 Billion Industry (1)

India’s retirement fund regulator will permit individual pension houses to launch tailor-made investment plans in what could be a major overhaul for the $175 billion industry.

Account holders will now be able to operate multiple pension programs, compared with just one earlier, the Pension Fund Regulatory and Development Authority said in a filing Tuesday, which confirmed an earlier Bloomberg News report. The change will help subscribers align their retirement and wealth building goals, PFRDA said.

Even though India’s pensions are growing quickly, pensioners in the country generally have little flexibility in how their savings are invested as the regulator sought ...