Pension Fund Regulatory and Development Authority (PFRDA) Chairman Supratim Bandyopadhyay said the regulator could consider allowing new annuity products. But will have to wait for amendments to the PFRDA Act — listed for the current session of Parliament—to allow products offering returns not based on annuities.

       The Act now mandates the PFRDA to permit only annuity products. “We can look at products other than annuities, but that is subject to amendments to the PFRDA Act,” clarified Bandyopadhyay. There can also be different kinds of annuity products, such ...