NEW DELHI, SEPT 26: Even as the fate of the Pension Bill hangs in balance, the sector is throwing up huge job opportunities. There is a spurt in demand for “annuity specialists”, with a host of companies offering pension products to consumers. Mutual fund and insurance companies have launched a slew of pension products in conformity with the new pension system.

The Pune-based national insurance academy (NIA) has, in fact, started a full-fledged course on annuity. Companies like Swiss Re, SBI Life, Bajaj Allianz and Pentafour Software have been eyeing candidates who have specialised in annuity and pension.

NIA director KC Mishra said students who studied annuity as a major have been flooded with job offers - not only from within India but also abroad. The average salary for these students is about Rs 5-6 lakh per annum (excluding all allowances).

“Companies are looking at engaging specialised people to deal with their annuity/pension products, which need lot of research,” Mishra said. He added that with the opening up of the financial markets in India, there is also a lot of interest among students to opt for a specialised course on annuity.

Though there are enough takers for the existing pension products in the market, the Bill is yet to be passed in Parliament. The passage of the bill would facilitate setting up of a regulator—Pension Fund Regulatory and Development Authority—to ensure a smooth functioning of the sector.

Mishra added that pension products would be more sophisticated in the future as consumers get savvy.

Want job in pension co? Be an annuity grad MAHUA VENKATESH Posted online: Wednesday, September 27, 2006 at 0000 hours IST NEW DELHI, SEPT 26: Even as the fate of the Pension Bill hangs in balance, the sector is throwing up huge job opportunities. There is a spurt in demand for “annuity specialists”, with a host of companies offering pension products to consumers. Mutual fund and insurance companies have launched a slew of pension products in conformity with the new pension system. The Pune-based national insurance academy (NIA) has, in fact, started a full-fledged course on annuity. Companies like Swiss Re, SBI Life, Bajaj Allianz and Pentafour Software have been eyeing candidates who have specialised in annuity and pension. NIA director KC Mishra said students who studied annuity as a major have been flooded with job offers - not only from within India but also abroad. The average salary for these students is about Rs 5-6 lakh per annum (excluding all allowances). “Companies are looking at engaging specialised people to deal with their annuity/pension products, which need lot of research,” Mishra said. He added that with the opening up of the financial markets in India, there is also a lot of interest among students to opt for a specialised course on annuity. Though there are enough takers for the existing pension products in the market, the Bill is yet to be passed in Parliament. The passage of the bill would facilitate setting up of a regulator—Pension Fund Regulatory and Development Authority—to ensure a smooth functioning of the sector. Mishra added that pension products would be more sophisticated in the future as consumers get savvy.