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PFRDA Act – LokSabha Q&A

August 13, 2018 Leave a Comment

PFRDA Act [LokSabha Q&A]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
LOK SABHA
UNSTARRED QUESTION NO: 4011
ANSWERED ON: 10.08.2018

PFRDA Act

P. KARUNAKARAN
Will the Minister of

FINANCE be pleased to state:-

(a) whether the Government received a large number of representations with regard to the dismissal of Pension Fund Regulatory and Development Authority (PFRDA) Act;

(b) if so, the details thereof;

(c) whether the Government proposes to change the Act as opposed by all the trade Unions; and

(d) if so, the details thereof?

ANSWER
The Minister of State in the Ministry of Finance

(a) to (d) The Government of India has implemented the New Pension System, now called “National Pension System” (NPS), with effect from 1st January, 2004 through a notification dated the 22nd December, 2003 for new entrants to Central Government service, except the Armed Forces. The Government constituted an interim regulator, the Interim Pension Fund Regulatory and Development Authority (PFRDA) through a Government Resolution dated the 10th October, 2003 as a precursor to a statutory regulator to regulate the NPS. NPS is now administered and regulated by the statutory regulator called PFRDA under the PFRDA Act, 2013, which came into effect from 1st February, 2014

Representations have been received which inter alia also include the demand that the PFRDA Act may be dismissed. However, there is no proposal to change the PFRDA Act, 2013.

Related posts:

  1. Pension Fund Regulatory and Development Authority (PFRDA) : NPS
  2. FinMin Orders:PFRDA:New Charge Initiative to Increase pension coverage (POPs):NPS
  3. PFRDA Prescribes New NPS Subscriber Registration Form
  4. PFRDA | Corporates to Create an Awareness About the Features of NPS | PIB
  5. Important Announcements and Approvals in Board Meeting of PFRDA – PIB
  6. Three Major Changes in the National Pension Scheme (NPS) Including Withdrawal Norms
  7. 7th CPC Dearness Allowance (DA) – LokSabha Q&A
  8. PFRDA Conducts Conference on NPS for Corporates in Coordination with FICCI at Mumbai
  9. PFRDA : National Pension System(NPS) Maximum age of joining Increased from the Existing 60 years to 65 years – Private Sector
  10. Premature Closure of PPF Accounts : Loksabha Q&A

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