Departments in Authority

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

Supervision- Fund Management (Pension Funds and Custodian) monitors and supervises the activities undertaken by the Pension Funds and Custodian to ensure smooth discharge of the functions in accordance with the PFRDA Act, 2013, PFRDA (Pension Fund) Regulations, 2015, PFRDA (Custodian of Securities) Regulations, 2015 and various circulars, guidelines, advisories, directions issued thereunder.

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.