Pension Institute of India in offing
The Insurance Institute of India (III), which has been imparting education, training and conducting various examinations for domestic insurance industry has taken an initiative in developing a Pension Institute of India (PII). The new body will undertake training and pension education in the country and will be a division of III.
Since life insurance and pension are two sides of social security platform, addressing the problem of living short and living too long, III is trying to put the basic infrastructure for developing manpower for the hugely expanding pension sector, said S Gidwani, secretary general, III.
The Institute has approached the Pension Management Institute of UK for collaboration of developing suitable pension qualifications. "They are appreciative of the role that the Institute desired to play in the development of Pension Education in India and have permitted the Institute the use of their copyright reading material and text books,'' he revealed. Shortly, III will be contacting UK body to have access to latest educational material of the UK for our proposed activity as also their constitution and style of functioning.
The proposed PII would like to work in close cooperation and as per requirements of the Pension Fund Regulatory & Development Authority and would focus on customer education, intermediary education and professional qualifications for intermediaries, corporates and all others who desire to have expertise in pension business.