Departments - PFRDA

Overview

The Promotion and Development Department of the Pension Fund Regulatory and Development Authority (PFRDA) plays a crucial role in expanding the National Pension System (NPS) across the non-government sector, including the All Citizen Model, Corporate Model, and Retirement Advisors (RA). The department's primary focus is to increase awareness, simplify subscription processes, and enhance engagement with individuals and organizations.
By collaborating with Points of Presence (POPs), Central Recordkeeping Agencies (CRAs), and key stakeholders, the department ensures a seamless NPS onboarding process. Through strategic campaigns, training programs, and partnerships, it fosters an NPS-friendly ecosystem, making retirement planning more accessible and beneficial for all.

Key Functions

1. Strategy Formulation

Develops annual strategies to boost NPS adoption in the non-government sector.
Conducts yearly performance analysis and goal setting based on stakeholder feedback.

2. Performance Review & Optimization

Regularly reviews NPS distribution channels to enhance efficiency.
Organizes strategy meetings and rewards top-performing POPs for their contribution.

3. Engagement with POPs & CRAs

Works closely with POPs and CRAs to streamline NPS subscriber onboarding.
Identifies and resolves operational bottlenecks for a smoother process.

4. Awareness & Outreach Programs

Conducts educational sessions with trade bodies and organizations to highlight NPS benefits.
Engages in multi-channel promotional activities to enhance awareness.

5. POP Activation & Support

Assists newly registered POPs and helps dormant POPs activate their operations.
Provides essential guidance for business plan implementation.

6. Training & Capacity Building

Organizes training sessions for POP and corporate officials to keep them updated on NPS operations and benefits.
Enhances the knowledge base of key stakeholders for effective NPS promotion.

7. Employer Engagement

Works with corporates, government bodies, and CPSEs to drive NPS adoption in their organizations.
Facilitates seamless integration of NPS as a retirement benefit for employees.

8. Product Innovation & Development

Designs and develops new NPS products tailored to evolving subscriber needs.
Ensures that the NPS remains a competitive and attractive pension option.

9. Coordination with Authorities

Collaborates with DOR and CBDT on taxation policies and superannuation fund regulations related to NPS.

10. Additional Responsibilities

Manages various other initiatives to strengthen and expand the reach of NPS.

Overview - Pension Fund Management

The Fund Management Regulation Department of PFRDA plays a key role in overseeing the registration, governance, and regulatory compliance of pension funds under the National Pension System (NPS) in compliance with the PFRDA Act, the Rules & Regulations issued thereunder, and other guidelines/ circulars/ directives issued by the Authority.
The department is responsible for policy formulation, proposal evaluation, and legal coordination to safeguard the interests of NPS subscribers. By implementing strict regulatory frameworks, it ensures efficient fund management, investor protection, and the long-term sustainability of pension funds.

Key Functions

1. Pension Fund Registration & Compliance

Selection, registration, renewal, and cancellation of pension funds.

2. Regulatory Oversight

Implementation of PFRDA (Pension Fund) Regulations and policy amendments.

3. Policy Development & Clarifications

Guidelines for Pension Funds, NPS Trust, and intermediaries, along with clarifications on circulars.

4. Fee Structure & Agreements

Determination, collection, and review of fee structures and agreement formats.

5. Proposal Evaluation

Assessment and recommendations for policy decisions.

6. Legal & Board Activities

Management of legal cases, interdepartmental coordination, and Board agenda preparation.

Overview - Custodian

The Fund Management Regulation (Custodian) Department of PFRDA is responsible for regulating custodians of securities within the National Pension System (NPS). It ensures that custodians operate in accordance with PFRDA regulations, maintaining transparency, security, and efficiency in handling pension fund assets.
By overseeing registration, compliance, and policy development, the department ensures a well-structured custodial framework that safeguards subscriber investments and upholds regulatory standards in pension fund management.

Key Functions

1. Selection & Registration

Registering, renewing, and canceling certificate of registration granted to custodians of securities.

2. Regulatory Compliance

Ensuring adherence to PFRDA regulations and implementing necessary amendments.

3. Policy Issuance & Review

Developing and reviewing guidelines for custodians to maintain best practices in fund management.

Overview - NPS Trust

The Regulation - Fund Management (NPS Trust) Department of the Pension Fund Regulatory and Development Authority (PFRDA) is dedicated to overseeing the regulatory activities related to the NPS Trust. This department plays a crucial role in ensuring the establishment, governance, and effective functioning of the NPS Trust, which is integral to the National Pension System (NPS). The department ensures that arm’s length distance is maintained and the NPS Trust operates independently while adhering to the regulatory framework set by PFRDA.
The department is responsible for appointing trustees and the chairperson, issuing and reviewing policies, and providing necessary clarifications on guidelines and circulars. It also prescribes formats for information and agreements, evaluates proposals, and handles inter-departmental communications. Through its comprehensive regulatory oversight, the department ensures that the NPS Trust operates transparently and efficiently, safeguarding the interests of all stakeholders involved in the NPS.

Key Functions

1. Establishment of NPS Trust

Setting up the NPS Trust as an intermediary on an arm’s length basis.

2. Appointment of Trustees and Chairperson

Appointing trustees and the chairperson on the Board of NPS Trust.

3. Regulatory Activities

Managing activities related to PFRDA (NPS Trust) regulations and amendments.

4. Policy Issuance and Review

Issuing and reviewing policies, guidelines, and instructions for the NPS Trust.

5. Clarifications

Providing clarifications on guidelines, policies, and circulars.

6. Information Formats

Prescribing formats for information and agreements.

7. Proposal Evaluation

Evaluating proposals and submitting comments on behalf of the Authority to various committees and stakeholders.

8. Inter-Department Communications

Handling communications between departments.

9. Board Agenda Preparation

Preparing Board agenda items and submitting action taken reports (ATR) to the Board Secretariat.

10. Other Responsibilities

Performing additional tasks as assigned by the Head of Department (HOD), Whole Time Member (WTM), or Chairman.

Overview - Regulation - Contribution Management (Govt. Nodal Office)

The Regulation - Contribution Management Department at PFRDA is responsible for handling regulatory activities related to Central Government, State Governments, Central Autonomous Bodies (CABs), and State Autonomous Bodies (SABs). This department ensures that all regulatory communications and processes are managed efficiently and in compliance with established policies and guidelines.
The department's role is crucial in maintaining the integrity and smooth functioning of the National Pension System (NPS) by overseeing the registration and management of contributions from various government and autonomous entities. By coordinating with other departments and external bodies, the department ensures that all regulatory requirements are met and that stakeholders are kept informed and compliant.

Key Functions

1. Disposal of Regulations & Policy Related Communication

Review and respond to communications from government entities and autonomous bodies.
Prepare and send draft replies, maintain records, and follow up with other departments.

2. Registration of CABs and SABs in NPS Architecture

Evaluate and verify documents from autonomous bodies.
Process registrations and communicate with relevant entities.

3. Handling Inter-Department Communications

Coordinate with other departments on parliamentary questions, RTI queries, legal matters, and policy clarifications.

4. Issuance of Policy/Guidelines/Instructions for the Government Sector

Prepare and issue circulars/guidelines.
Inform stakeholders about changes and develop new functionalities as needed.

5. Preparation of Board Agenda

Prepare board agendas and action taken reports.

6. Preparation of Meeting Agendas, Minutes, ATR Reports, and Presentations

Prepare and circulate meeting agendas, minutes, action taken reports, and presentations.

7. Maintenance of Inward and Outward Register

Maintain registers for the movement of notes, files, letters, and other communications.

8. File Management

Manage and retrieve correspondence files efficiently.

Target Turn Around Time (TAT) for Critical Activities

Disposal of policy-related communication: 7 working days
Evaluation of Letters of Consent: 5 working days
Decision by recommending/approving authority: 3 working days
Issuance of registration letters: 3 working days
Communication of discrepancies: 3 working days
Disposal of parliamentary questions: 1 day
Disposal of RTI queries: 15 days

Overview - Regulation - Contribution Management (Retirement Advisors) Department

The Regulation - Contribution Management (Retirement Advisors) Department at PFRDA is responsible for handling regulatory activities related to Retirement Advisors (RAs). This department ensures that all regulatory communications and processes are managed efficiently and in compliance with established policies and guidelines.

The department's role is crucial in maintaining the integrity and smooth functioning of the National Pension System (NPS) by overseeing the registration and management of Retirement Advisors. By coordinating with other departments and external bodies, the department ensures that all regulatory requirements are met and that stakeholders are kept informed and compliant.

Key Functions

1. Screening of Applications for RA Registration

Scrutinize RA applications to ensure they meet eligibility norms and are in the prescribed format.
Verify that all required documents and annexures are provided.

2. Handling Application Processing Fee and Registration Fee

Check the correctness of demand drafts or online transfers.
Submit corrected payments to the Accounts department for confirmation.

3. Approval for Registration of RAs

Forward complete applications to the competent authority for approval.
Issue Letters of Acceptance and Certificates of Registration upon approval.

4. Finalization of Guidelines and Forms for RAs

Prepare and update operational guidelines, MIS formats, and compliance certificates for RAs.
Suggest improvements to the registration process.

5. Policy Matters

Examine suggestions from stakeholders and seek approvals from higher authorities.
Disseminate decisions to concerned stakeholders.

6. Handling Inter-Department Communications

Coordinate with other departments on RTI queries, parliamentary questions, legal issues, and policy clarifications.

7. Preparation of Board Agenda

Prepare board agendas and action taken reports for items related to the department.

8. Preparation of Pension Advisory Committee (PAC) Agenda

Prepare PAC agendas and take suitable actions based on PAC suggestions.

9. Preparation of Meeting Agendas, Minutes, ATR Reports, and Presentations

Prepare and circulate meeting agendas, minutes, action taken reports, and presentations for various meetings.

Target Turn Around Time (TAT) for Critical Activities

Issuance of communication regarding discrepancies: 5 days
Scrutiny and evaluation of RA applications: 7 days
Deposit of application fee: 2 days
Decision by recommending/approving authority: 3 days
Issuance of Letters of Acceptance: 3 days
Issuance of Certificates of Registration: 3 days
Communication regarding application rejection: 15 days
Disposal of parliamentary questions: 24 hours
Disposal of RTI queries: 15 days
Approval and circulation of meeting minutes: 10 days
Action Taken Report: As per specified timelines

Overview - RTI Department

In PFRDA, the RTI Department is charged with the task of fostering transparency and accountability by ensuring access to the required information for the citizens. The department receives queries and appeals under RTI and confirms compliance with the provisions of the RTI Act, 2005.
The RTI Department keeps an important place in the establishment of PFRDA as an open, transparent institution. By giving access to information, the department enables the citizenry to make choices and hold public authorities accountable. Thus, the benefits conferred by more transparency include more trust from the public which is vital for good governance.

Key Functions

1. Handling RTI queries

Receiving Applications: RTI applications are received physically or online through the RTI portal of the Department of Personnel and Training (DoPT).
Initial Scrutiny: The applications are scrutinized for completeness with respect to the relevant fee. If an application is not complete, it is promptly rejected.
Forwarding to the Relevant Department: Queries are routed to the concerned departments for input. Where information is held by another department, the application is redirected there.
Compiling the Responses: Information from various departments is collated, an appropriate reply is prepared and then dispatched to the applicant within the stipulated period.

2. Responding to Appeals

Examining Appeals: Appeals are examined, and inputs are sought from the concerned departments as necessary.
Drafting Orders: Orders are drafted after consultation with the Appellate Authority and dispatched within time.

3. Coordination with CIC

Responding to Notices: The department coordinates with the Central Information Commission (CIC) regarding second appeals and hearings, ensuring timely and accurate responses.

4. Proactive Disclosures

Transparency Audits: Transparency audits are held on an ongoing basis and proactive disclosures are maintained on the PFRDA website in accordance with Section 4 of the RTI Act.
Quarterly Returns: Quarterly returns are filed on the CIC website per the RTI Act.

5. Third-Party Audits

Appointment and Coordination: Third-party auditors have been appointed for transparency audits, and coordination will be provided for the audits and processing of payments.

राजभाषा विभाग के कार्य

राजभाषा विभाग भारतीय संविधान और राजभाषा अधिनियम, 1963 में वर्णित प्रावधानों के तहत प्राधिकरण के कार्यों में हिंदी के उपयोग को बढ़ावा देने के उद्देश से कार्य करता है। विभाग के मुख्य कार्य हैं -
•   भारत सरकार से प्राप्त राजभाषा अधिनियम और नियमों और अन्य संबंधित निर्देशों के प्रावधानों का कार्यान्वयन;
•   प्राधिकरण में हिंदी का उपयोग आसान बनाने और हिंदी के प्रोत्साहन के लिए संदर्भ सामग्री तथा प्रशिक्षण की व्यवस्था तैयार करना;
•   प्राधिकरण में हिंदी के प्रगामी प्रयोग पर सरकार को विभिन्न रिपोर्ट प्रस्तुत करना;
•   प्राधिकरण की वार्षिक रिपोर्ट, भारत में पेंशन की प्रवृत्ति और प्रगति पर रिपोर्ट, पेंशन बुलेटिन और प्राधिकरण के अन्य प्रकाशन जैसे सांविधिक दस्तावेजों का हिंदी अनुवाद करना;
•   प्राधिकरण में राजभाषा के कार्यान्वयन की समीक्षा करना और भारत सरकार की विभिन्न समितियों की बैठकों में प्राधिकरण का प्रतिनिधित्व करना;

राजभाषा पखवाड़ा

भारत सरकार के दिशानिर्देशों के अनुसरण में प्राधिकरण में प्रत्येक वर्ष सितम्बर माह में राजभाषा पखवाड़ा क आयोजन किया जाता है I इसमें अधिकारियों के लिए अनेक प्रतियोगिताएं आयोजित की जाती हैं और विजेताओं को पुरस्कार प्रदान किया जाता है I

कार्यशाला और प्रशिक्षण

अधिकारियों को राजभाषा में कामकाज को सरल बनाने के लिए प्रत्येक तिमाही में एक कार्यशाला का आयोजन किया जाता है I इसमें किसी वरिष्ठ विद्वान् को व्याख्यान देने के लिए आमंत्रित किया जाता है I मानव संसाधन विभाग के सहयोग से प्रशिक्षण की व्यवस्था की जाती है I

Overview

The Contribution Management-II department under the Pension Fund Regulatory and Development Authority (PFRDA) supervises and ensures compliance of Points of Presence (POPs), Aggregators, APY Service Providers (APY-SPs), and Retirement Advisors (RAs) operating in the non-government pension sector. The department enforces adherence to the PFRDA Act, 2013, along with relevant rules and operational guidelines to maintain efficiency and compliance in the National Pension System (NPS), Atal Pension Yojana (APY), and NPS-Lite.
To maintain strict oversight, the department follows structured monitoring mechanisms to detect operational delays, enforce compliance with Turnaround Times (TATs), and conduct both off-site and on-site assessments of regulated entities.

Key Functions

1. Off-Site Monitoring of POPs & RAs

Supervises Points of Presence (POPs) through compliance reports.
Ensures Retirement Advisors (RAs) adhere to the Code of Conduct and cybersecurity guidelines.

2. On-Site Monitoring & Inspections

Conducts on-site inspections of POPs to assess compliance with operational guidelines.

3. Supervisory Actions & Compliance Enforcement

Initiates corrective actions based on monitoring reports and compliance assessments.

4. Incentive Release for NPS-Lite

Manages the release of pending incentives to POPs for NPS-Lite subscribers.

5. Grievance Management

Addresses subscriber and stakeholder grievances related to POPs and RAs.

6. Issuance of Guidelines & Circulars

Issues guidelines, advisories, and circulars for POPs, Aggregators, APY-SPs, and RAs to ensure regulatory adherence.

7. Compliance Reporting & Communication

Oversees submission and evaluation of compliance reports.
Maintains regular communication with POPs for updates on compliance and regulatory matters.

8. Board & Advisory Committee Coordination

Prepares board agenda items for PFRDA’s approval.
Submits reports and policy recommendations to the Pension Advisory Committee (PAC).

9. RTI & Parliamentary Query Handling

Responds to Right to Information (RTI) queries and parliamentary questions (PQs).

10. Coordination with Ministries & Regulators

Collaborates with administrative ministries and financial regulators for streamlined operations.

11. Central KYC (CKYC) Registration & Management

Manages CKYC registrations and coordinates with Central Recordkeeping Agencies (CRAs), PFRDA, and the Reserve Bank of India (RBI).

12. Policy Recommendations & Process Improvements

Evaluates policy changes and submits recommendations for improved pension fund management.

13. Meeting & File Management

Prepares meeting agendas, minutes, and presentations for regulatory discussions.
Manages official records, files, and documentation via the e-office system.

14. Website & Annual Report Updates

Uploads regulatory updates on the PFRDA website.
Provides data contributions for the Annual Report.

Overview

Department is responsible for supervising the Central Recordkeeping Agencies (CRAs), Trustee Bank and Annuity Service Providers (ASPs) to ensure that they adhere to the established regulations, guidelines, instructions, SOPs, Service level agreements etc. and monitor their performance. The department is also responsible for activities related to Exits and Withdrawals under NPS. The department oversees improvements in CRA Systems and development of new functionalities by the CRAs as per emerging needs.

Key Functions

CRA Supervision

Processing the periodical reports received from CRAs and their performance are monitored in terms of adherence to compliance of regulations, guidelines, instructions, SOPs etc.
Onsite inspections of CRAs to ensure alignment with CRA regulations and guidelines.
Periodic review meetings with CRA officials are conducted.
Review of the new initiatives and system improvements that are introduced by CRA to enhance subscriber experience.

Trustee Bank Supervision

Processing the periodical reports of Trustee bank.
Monitoring the activities of Trustee bank to ensure compliance, system integrity, and adherence to timelines as defined under Service Level Agreement.
Policy updates and system enhancements are communicated, ensuring timely fund flow and reporting.
Introduce new features/processes for better service delivery, grievance handling, remittance processing, and subscriber fund transfers.

Exit & ASP Supervision
CRA processes related to subscriber exit and withdrawals are monitored for compliance and effectiveness.
Overview the system capability of CRAs in adherence of the regulations for processing the Exit cases.
ASP performance is reviewed using MIS reports; deviations are addressed and feedback is provided to streamline the annuity issuance process.
Monitoring the adherence of the operational instructions/directions by the ASPs.

Overview

The Vigilance Department of the Pension Fund Regulatory and Development Authority (PFRDA) ensures integrity, transparency, and ethical governance by implementing and monitoring anti-corruption measures. It operates under the Vigilance Manual 2021 and directives from the Central Vigilance Commission (CVC) to prevent, detect, and address misconduct within the organization. The department supports the Chief Vigilance Officer (CVO) in enforcing vigilance policies and promoting accountability and ethical conduct among employees.

Key Functions

1. Preventive Vigilance

Policy Formulation - Develops anti-corruption policies and ethical guidelines.
Training & Awareness - Conducts workshops on vigilance and integrity.
Risk Assessment - Identifies and mitigates organizational risks.

2. Detective Vigilance

Surveillance & Monitoring - Tracks employee conduct to detect unethical practices.
Investigations - Conducts inquiries into fraud and misconduct.
Data Analysis - Uses trend analysis to identify potential risks.

3. Punitive Vigilance

Disciplinary Actions - Recommends and enforces penalties for misconduct.
Legal Coordination - Works with CVC, CBI, and law enforcement for criminal proceedings.
Reporting & Compliance - Prepares detailed reports on vigilance activities.

4. Support to the Chief Vigilance Officer

Administrative Support - Maintains records of vigilance activities.
Technical Support – Implements surveillance tools and data management systems.
Advisory Role - Provides policy recommendations to strengthen ethical practices.

5. Complaint Handling & Disciplinary Proceedings

Complaint Registration - Manages grievances related to corruption and fraud.
Inquiry & Charge-Sheeting - Conducts thorough investigations and issues charge sheets.
Punishment & Compliance - Implements disciplinary measures and ensures compliance.

6. Coordination with External Agencies

Collaboration with CVC & CBI - Shares data and supports legal investigations.
Joint Investigations - Assists in complex fraud detection.
Training & Best Practices - Participates in capacity-building programs with law enforcement.

Pension Fund Regulatory and Development Authority

पेंशन निधि विनियामक और विकास प्राधिकरण

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