PFRDA – Pension Fund Regulatory Development Authority


PFRDA full form is the Pension Fund Regulatory Development Authority. The primary function of this organization is to supervise the National Pension Scheme (NPS). NPS is a social welfare scheme for distributing pension to private and public sector employees after their retirement. NPS enrolled everybody, from Government employees of Central and State governments to Public sector units. It came into existence under the Pension Fund Regulatory Development Authority Act passed by the parliament on 19th September 2013. The Act came in to force on February 1, 2014. Hemant Contractor is currently serving as Pension Fund Regulatory Development Authority Chairman.


Latest developments and the future roadmap laid down by PFRDA Chairman

  • Play the role of pension funds regulator to perfection with strict adherence to the guidelines of the Ministry of Finance.
  • Spread awareness about the NPS and APY pension schemes, for the disadvantaged sections of the society.
  • Individuals can open NPS accounts online through eNPS service.
  • Mobile app for managing NPS accounts and change in subscriber details.
  • Professional fund management of pension funds to bring additional benefits to employees at their post-retirement age.
  • It is the sole authority responsible for appointing intermediate agencies such Central Record Keeping Agency (CRA), Pension Fund Managers, Custodian, NPS Trustee Bank, etc.
PFRDA Portal
Image Source: www.pfrda.org.in

Vital information provided by the Pension Fund Regulatory Development Authority website

  • Complete details of grievance readdress mechanism and contact information on Government Nodal offices taking care of pension-related disputes.
  • List of new vacancies and recruitment drives in the organization through PFRDA careers
  • Download all the necessary forms related to NPS, APY and several other social security schemes for the unorganized sector.
  • Their toll-free numbers are available for resolving the queries of NPS and APY subscribers.

Keep track of the upcoming services from PFRDA by logging on to its official website

PFRDA Organisational Chart

Image Source: www.pfrda.org.in

Pension Funds

Pension Funds can be abbreviated to “PF” which is mandatory to invest along with managing the assets of the candidates which are covered under the NPS (National Pension System)

Functions of Pension Funds

In accordance with the CoF (Certificate of Registration) along with the rules issued by the departments, the Pension funds function from time to time. Below are the functions of PF’s (Pension Funds):

  1. According to the investment guidelines which are ordered by the department the investments will be offered
  2. Construction of Scheme Portfolio
  3. Records and Books of the pension operations will be maintained
  4. At the periodical time the reports will be reported to the authority
  5. Disclosure of Public
pension funds
Image Source: images.indianexpress.com

List of Pension Funds (PF’s)

Pension Funds can be regulated to 02 sectors as shown in the below:

  1. Government Sector (GS)
  2. Private Sector (PS)

The List of Pension Funds (PF’s) of 02 different sectors can be mentioned below:

PF’s for GS:
  • SBI PF’s Private Limited
  • UTI Retirement Solutions Limited
  • LIC PF Limited
PF’s for PS:
  • ICICI Prudential PF Management Corporation Limited
  • LIC PF Limited
  • SBI PF’s Private Limited
  • Birla Sun Life Pension Management Limited
  • HDFC Pension Management Corporation Limited
  • Kotak Mahindra Pension Fund Limited
  • Reliance Capital Pension Fund Limited
  • UTI Retirement Solutions Limited

Intermediaries of PFRDA

The intermediaries of PERDA perform the task to add the comprehensive responsibility of the Pension Fund Regulatory Development Authority towards the citizen of India. The below are the Intermediaries of PFRDA

  1. CRA (Central Record Keeping Agency)
  2. PFM’s (Pension Fund Managers)
  3. PoPs (Point of Presence Agencies)
  4. Trustee Bank.

Important Details of Pension Fund Regulatory Development Authority