Not a Pensioner to Regulate Pensions

.......True, the appointment of the pension regulator is the government’s prerogative, but there has to be transparency on changes midway. Now, the government says it will name a new pension regulator within a month. Rather than appoint yet another serving or retired civil servant to the job, the government would do well to let the insurance regulator, Irda, look after the pension sector for the time being. There is considerable overlap in the long-term asset-building activities both regulators look after.  India needs to overhaul its regulatory apparatus for the financial sector, to bring in holistic, harmonious regulation. The financial sector legislative reforms under the government’s consideration, and the prime minister’s own stated intention to make regulators accountable suggest that such overhaul is imperative........

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