Departments in Authority

The Information and Cybersecurity Department at PFRDA plays a crucial role in safeguarding the organization's information assets. This department is responsible for protecting these assets from unauthorized access, use, disclosure, disruption, modification, or destruction. By managing all aspects of information and cybersecurity within PFRDA-regulated system, the department ensures the integrity, confidentiality, and availability of critical information.

Key Functions of the Department

1. Developing and Implementing Cybersecurity Policies and Procedures: The department develops and implements a comprehensive cybersecurity program that outlines PFRDA's security goals and objectives. This includes creating specific cybersecurity policies, procedures, standards, and guidelines for both internal implementation and Regulated Entities.

2. Developing and Implementing Security Architecture: The department is responsible for designing and maintaining a robust security architecture for the organization. 

3. Conducting Security Assessments and Audits: Regular security assessments and audits are conducted to identify and address gaps in the cybersecurity policy and its implementation. The cybersecurity department collaborates with other departments to provide cybersecurity inputs and assist in supervising regulated entities (REs) or intermediaries.

4. Responding to Cybersecurity Incidents: The department coordinates responses to security incidents, analyzes them to prevent recurrence, and reports incidents to relevant organizations.

5. Creating Cybersecurity Awareness: Raising awareness about cybersecurity best practices among stakeholders is a key function.  The department issues advisories and alerts to its stakeholders to keep them informed about the latest cybersecurity threats and best practices.

6. Interaction with other Regulatory Bodies and external Cybersecurity Institutes: The department interacts with other regulatory bodies and external agencies such as CERT-In, NCIIPC, DSCI, etc. to maintain and enhance the organization's information security.

Overview -  Internal Audit 

The Internal Audit Department of the Pension Fund Regulatory and Development Authority (PFRDA) reviews the functioning of various departments of PFRDA, based on internal risk-based assessment mechanism. 

Overview - Surveillance

The responsibility of the department involves Surveillance of the activities executed by various stakeholders under the regulatory ambit of the Pension Fund Regulatory and Development Authority (PFRDA).

Overview - Investigation 

The Investigation Department of the Pension Fund Regulatory and Development Authority (PFRDA) conducts Investigations wherever required, under the instructions of the competent authority.

Overview - Adjudication & Enforcement Department

The Adjudication & Enforcement Department of the Pension Fund Regulatory and Development Authority (PFRDA) provides support in the matters related to adjudication and enforcement.

 

Overview

The department handles the legal functions of the Authority.

Overview   

The Promotion and Development Department of the PFRDA plays a pivotal role in expanding the reach of the National Pension System (NPS) across the private sector, encompassing the All Citizen Model, Corporate Model, and Retirement Advisors (RAs). The department primarily focuses on increasing awareness, simplifying the subscriber onboarding process, and strengthening engagement with both individuals and organisations.

By working in close collaboration with Points of Presence (PoPs), Central Recordkeeping Agencies (CRAs), and other key stakeholders, the department ensures a seamless and user-friendly NPS onboarding experience. Through strategic campaigns, training initiatives, and stakeholder outreach, it fosters a supportive ecosystem that promotes NPS adoption and makes retirement planning more accessible and rewarding for all.
 
Key Functions
 
 1. Strategy Formulation   

•  Develops annual strategies to increase NPS adoption in the private sector .  
• Conducts yearly performance analysis and goal setting based on stakeholder feedback.  

 2. Performance Review & Optimization 

• Regularly reviews and expand NPS distribution channels to enhance efficiency.  
• Organises strategy and review meetings with PoPs, and  recognise the top-performing POPs for their contribution under NPS.

3. Engagement with POPs & CRAs   

•  Collaborates closely with PoPs and CRAs to streamline the NPS subscriber onboarding process.
• Identifies and addresses operational bottlenecks to ensure a more efficient and seamless user experience.

 4. Awareness & Outreach Programs   

• Organises Corporate awareness programmes in collaboration with trade bodies and other institutions to promote the benefits of NPS.
• Undertakes multi-channel promotional activities to enhance visibility and public understanding of the scheme.  

 5. POP Activation & Support 

•  Supports newly registered PoPs and facilitates the reactivation of dormant PoPs to strengthen NPS distribution.
• Provides  guidance for effective business plan formulation and implementation. 

 6. Training & Capacity Building 

• Organises and Conducts training sessions for PoPs and corporate officials to keep them informed about NPS operations, procedures, and benefits.
• Strengthens the knowledge base of key stakeholders to enable more effective promotion and implementation of NPS.

 7. Employer Engagement 

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

8. Coordination with Authorities 

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

 9. Additional Responsibilities 

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

 10. 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.   

Overview: Regulation - Contribution Management – II Non-Govt (POP-NPS, POP-NPS-Lite, POP-APY, RA)

The Regulation - Contribution Management - POP-NPS, POP-NPS-Lite, POP-APY, RA department at PFRDA is entrusted with overseeing regulatory activities related to Points of Presence (PoPs) registered under the National Pension System (NPS), NPS-Lite, Atal Pension Yojana (APY) and Retirement Advisers (RAs). This department ensures that all regulatory processes and compliances are complied with by the above intermediaries  and in accordance with the prescribed Regulations, policies, guidelines and directions.

A key function of the department is to evaluate applications and grant registration to eligible entities as PoPs under NPS, NPS-Lite, APY & Retirement Advisers (RAs). It also monitors the ongoing compliance of registered PoPs and Retirement Advisers (RAs) with the applicable regulatory framework. 

Key Functions of the Department

1.    Issuance/renewal/surrender/cancellation of registration of PoPs and RAs.
2.    Ensuring regulatory compliance as prescribed under PFRDA Act, relevant regulations, master circulars, circulars, advisories, directions etc issued for PoPs and RAs.

Overview: Supervision - Contribution Management – II Non-Govt (POP-NPS, POP-NPS-Lite, POP-APY, RA)

The Supervision Contribution Management-II department under the Pension Fund Regulatory and Development Authority (PFRDA) supervises and ensures compliance of Points of Presence (POPs) under (NPS, NPS Lite, APY and RAs) operating in the Non-Government sector. The department enforces adherence to the PFRDA Act, 2013, along with relevant Regulations and Operational Guidelines to maintain efficiency and compliance in the National Pension System (NPS), Atal Pension Yojana (APY), and NPS-Lite.  

Key Functions of the Department 

1. Off-Site Monitoring of POPs & RAs
- Supervises operational activities of Points of Presence (POPs) through various Supervisory compliance reports.  
- Ensures Retirement Advisors (RAs) adhere to the related Regulations, Circulars and guidelines.  

2. On-Site Monitoring & Inspections

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

3. Grievance Management

Supervises and intervenes wherever required in addressing subscriber and stakeholder grievances related to POPs and RAs.  

4. Issuance of Operational Guidelines & Circulars 

Issues guidelines, advisories, circulars etc for POPs under NPS, NPS-Lite, APY and RAs 
 

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 Supervision - Contribution Management - I (Government Nodal Office) department at PFRDA is supervising and monitoring NPS and UPS related activities within the Central government sector and NPS related activities within the State Governments, and Autonomous Bodies thereunder.

Key Functions

1. Report Analysis: Review and analysis of reports submitted by the Central Recordkeeping Agencies (CRAs) to assess the performance of government sector nodal offices in respect of Implementation of NPS and UPS (for Central Government).  

2. Performance Monitoring: Tracking and evaluating the performance of Central and State Government nodal offices for efficiency in implementation of NPS and UPS (for Central Government).

3. Correspondence Handling: Responding to queries, letters and communication from government offices, autonomous bodies

4. Government Interface: Coordination with various government ministries and departments with respect to implementation of NPS and UPS (for Central Government).