20. A Pension Fund shall adhere to the following exposure limits for investments in India and global markets: (a) Exposure in India: Investment in assets, across all permissible asset classes, in India may be up to hundred per cent. (100%) of the Scheme's Assets under Management (AUM). (b) Global market exposure (outside India): Investment in assets, across all permissible asset classes, in any one country shall not exceed twenty per cent. (20%) of the Scheme's Asse... ... ...

19. (1) A Pension Fund shall invest in any of the following asset classes: (a) listed public and private equities; (b) Fixed income instruments, such as government bonds, corporate bonds, private debt; (c) Alternative Investment Funds; (d) Frequently traded commodities; (e) Cash and short-term instruments for liquidity management; or (f) Such other financial products or instruments, as may be specified by the Authority. (2) The specifi... ... ...

CHAPTER IV INVESTMENT MANAGEMENT AND ASSET ALLOCATION 18. The general principles of investment to be adhered to by a Pension Fund shall, inter-alia, include the following: (a) Long-term investment horizon: The investment strategy shall be aligned with the long-term nature of pension liabilities. (b) Diversification: Investments shall be diversified across asset classes, sectors, and geographies, so as to reduce risk. (c) Liquidity: Sufficient liquidity shall ... ... ...

17. (1) A Pension Fund may also offer a healthcare benefit option that allows Subscriber to allocate a portion of his pension contribution towards a dedicated healthcare savings account, information about which shall be included in Scheme Information Document. (2) The healthcare benefit option offered in a Scheme by the Pension Fund shall comply with the requirements specified in the Second Schedule. =============... ... ...

OFFICE OF THE COMMISSIONER OF CUSTOMS (NS-III) GROUP-III, JAWAHARLAL NEHRU CUSTOMS HOUSE, VILL. SHEVA, TAL. URAN, DISTT.RAIGAD, MAHARASHTRA - 400707 F/No. -S/26-Misc-270/18-19/Gr. III JNCH Date: 21.02.2020 PUBLIC NOTICE No. 26/2020 DIN NO. 20200278NV00006G6A33 SUB: -REG Attention of the importers, exporters, Customs Brokers and all other stakeholders is invited to above cited subject matter of constitution of trade advisory expert valuers nominated for valuation / exa... ... ...

16. A Subscriber shall have the right to nominate one or more persons, or change such nomination(s), who shall receive the accumulated corpus in the event of his death. =============... ... ...

15. (1) A Subscriber shall have the right to change the Pension Fund up to a maximum of two (2) times per Financial Year. (2) The Authority may specify the mechanism for interoperability with other pension systems, subject to bilateral agreements and applicable regulatory approvals. =============... ... ...

14. (1) The withdrawal and exit options available to a Subscriber under a Scheme shall be as under: (a) Provision for partial withdrawal (Pre-retirement): Limited partial withdrawals may be permitted for higher education, marriage, critical illness, housing, or any other purposes as maybe specified by the Authority, after completion of a minimum lock-in period of five years: Provided that the amount of partial withdrawal shall not exceed seventy-five percent of Subscriber's... ... ...

13. (1) Each Scheme offered by a Pension Fund shall be constituted as a trust. (2) A Pension Fund shall seek prior approval of the Authority for each new Scheme, or any material modification proposed to be made to an existing Scheme, as the case may be, by filing requisite details with the Authority. (3) The filing referred to in sub-regulation (2) shall, inter alia, include the Scheme Information Document and such other information as may be required by the Authority. (4) A Pension... ... ...

12 (1) Pension Fund may offer a range of investment options, including: (a) Active choice: Subscribers may actively choose their asset allocation across various asset classes within the specified limit; and (b) Auto choice (life cycle fund): A default option where asset allocation changes automatically based on the Subscriber's age, gradually shifting from aggressive to conservative, as they approach retirement. (2) Each Scheme shall have a clearly defined investment... ... ...

Pension Fund subscribers may determine the frequency and amount of their contributions. A Pension Fund may prescribe a minimum contribution amount only with the Authority's prior approval.

Pension Funds must maintain a fully functional office within the International Financial Service Centre, supported by secure technology, communications and data-storage infrastructure for investment management, risk management, compliance and administration. They must implement and regularly update internal policies on investment decisions, risk management, compliance and grievance redressal; comply with AML/CFT/KYC requirements; maintain defined roles and reporting lines ensuring segregation of duties; and continually comply with applicable legal and regulatory requirements.

9. (1) The Authority, upon being satisfied that the applicant fulfils the eligibility criteria and requirements specified in these regulations, may grant a certificate of registration as a Pension Fund, subject to the payment of the applicable fee. (2) The grant of registration may be subject to such terms and conditions as the Authority deems fit, including, but not limited to, compliance with specific operational or financial requirements. (3) If the Authority, upon the examination o... ... ...

Furnishing of information for pension fund registration permits the Authority to require an applicant to provide additional information or clarification necessary for considering its application. The Authority may require personal appearance for representation or clarification and may inspect the applicant's office before granting a certificate of registration.

7. (1) A Pension Fund shall ensure that all its director(s), Key Managerial Personnel(s) and controlling shareholders are 'fit and proper' persons at all times, as per the criteria specified in the First Schedule. (2) Any person who has been declared not to be a 'fit and proper' person by an order of a regulatory authority shall not be eligible to seek registration, or be a director, Key Managerial Personnel, or controlling shareholder, as the case may be, until such person satisfies the ... ... ...

6. (1) The applicant shall appoint a minimum of two Key Managerial Personnels who shall be responsible for the activities of the Pension Fund, including but not limited to, fund management, risk management, etc. (2) The Pension Fund shall additionally appoint a Compliance Officer who shall be a Key Managerial Personnel for overall compliance of these regulations and other applicable laws and he shall report directly to the Board. (3) The employees appointed in accordance with sub-regul... ... ...

5. (1) The applicant shall be an entity incorporated as a company in the International Financial Services Centre, or a branch of a company incorporated outside the International Financial Services Centre: Provided that the branch structure is permitted only for a Pension Fund which is already registered or regulated by a financial sector regulator in India or a foreign jurisdiction for undertaking similar activities. (2) The Board of the applicant shall consist of at least four directo... ... ...

CHAPTER II REGISTRATION AND ELIGIBILITY OF PENSION FUND 4. (1) No person shall act as a Pension Fund under these regulations unless it has obtained a certificate of registration from the Authority as a Pension Fund. (2) An entity desirous of obtaining a certificate of registration from the Authority as a Pension Fund shall submit an application form through SWIT, accompanied by such fees and documents and in such manner as may be specified by the Authority. (3) The applicant, whi... ... ...

3. (1) In these regulations, unless the context otherwise requires, the terms defined herein shall bear the meanings as assigned to them below, and their cognate expressions shall be construed accordingly, - (a) "Act" means the International Financial Services Centres Authority Act, 2019 (50 of 2019); (b) "Authority" means the International Financial Services Centres Authority established under the sub-section (1) of section 4 of the Act; (c) "Board" refers to the ... ... ...

2. These regulations provide the regulatory framework for registration, regulation and supervision of the Pension Funds in the International Financial Services Centre in India, with the objectives of establishing a robust framework for long-term retirement savings, promoting a secure and transparent environment for subscribers, protecting their interests and maintaining the integrity of the pension ecosystem in IFSC. =============... ... ...