The government has clarified that no cap has been put on foreign investment in the pension sector.

Talking to All India Radio, the spokesperson in the Ministry of Finance Mr. Arvind Kumar said that at present, government has decided to put foreign investment in the pension sector at par with the existing cap in the insurance sector.

Yesterday, the government had approved amendments to the Pension Fund Regulatory Development Authority Bill 2011 before presenting it in Parliament in the forthcoming Winter session. The government had decided not to mention FDI cap in the legislation itself for retaining the flexibility of changing it through an executive order.