PFRDA – Comments are invited on PFRDA Regulations 2014 from all concerned
DRAFT – Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2014
1. The PFRDA Act was passed by Parliament on Sep/19/2013 and notified
on Feb/01/2014. In accordance with section 52 of the Act, the
Authority may, by notification make regulation consistent with the Act
and rules made thereunder for carrying out the provisions of the Act.
2. “Pension fund” is defined under Section (2) (l) of the Act as
“intermediary which has been granted a certificate of registration under
sub-section (3) of section 27 by the Authority as a pension fund for
receiving contributions, accumulating them and making payments to the
subscriber in the manner as may be specified by regulations”.
3. The objective of these Regulations is to standardize and to
provide regulatory framework for Pension Fund (PFs) that would provide
interalia criteria for registration, capital adequacy, code of conduct,
obligation and responsibilities etc. Further, the regulation would
ensure an effective procedure for inspection and audit to protect the
interests of subscribers.
4. Therefore, in order to safeguard the interest of the subscribers,
PFs as an intermediary, through this regulation, are required to adopt
high level of standard practices that requires compliance with standards
for internal control and operational conduct, with the aim of
protecting the NPS assets, proper management of risk and generation of
optimum returns.
5. Public comments are invited on the draft regulations on Pension
Fund Regulatory and Development Authority (Pension Fund) Regulations,
2014 . All comments from the public will be considered before the
regulations are finalized. Comments may be forwarded by email to
sumeet.kapoor@pfrda.org.in or may be sent at the under-mentioned address
latest by 18th Aug 2014 as per format given below.
Aug 2014 as per format given below:
Name of the Person:
Organisation:
Designation: |
Sr. No. |
Pertains to which regulation /Sub-regulation
(Regulation No. & Clause No.) |
Proposed/suggested
changes* |
Rationale |
1. |
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2. |
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3. |
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Instruction to fill up the format:
1. All letters or emails to clearly specify the name and number of the regulation, sub-regulation and clause.
2. Separate letters/emails to be used for different regulations.
3. Each proposed amendment to be given separately.
4. Each proposed amendment (preferably) not to exceed 200 words*
Your letter(s) can be addressed to:
Ms. Sumeet Kaur Kapoor
General Manager
Pension Fund Regulatory & Development Authority (PFRDA)
1st Floor, ICADR Bldg, Plot No.6
Vasant Kunj Institutional Area, Phase II
New Delhi -110070
Source: www.pfrda.org.in
[http://www.pfrda.org.in/writereaddata/linkimages/Draft%20PF%20Regulations%20Letter1.pdf]