The Pension Fund Regulatory and Development Authority (PFRDA) is a statutory body established by an Act of Parliament. PFRDA conducts recruitment for various officer and assistant-level positions to manage and regulate the National Pension System (NPS) and other pension funds in India. Candidates aspiring for a stable career in financial regulation often look for PFRDA openings, necessitating a clear understanding of general eligibility criteria concerning educational qualifications, age limits, and nationality.
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About Pension Fund Regulatory & Development Authority (PFRDA)
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The Pension Fund Regulatory and Development Authority (PFRDA) is a pension regulator which was established by Government of India on August 23, 2003. PFRDA is authorized by Ministry of Finance, Department of Financial Services. PFRDA promotes old age income security by establishing, developing and regulating pension funds and protects the interests of subscribers to schemes of pension funds and related matters. PFRDA is responsible for the appointment of various intermediate agencies such as Central Record Keeping Agency (CRA), Pension Fund Managers, Custodian, NPS Trustee Bank, etc.
PFRDA has set up a Trust under the Indian Trusts Act, 1882 to oversee the functions of the Pension Fund Managers (PFMs). The NPS Trust is composed of members representing diverse fields and brings a wide range of talent to the regulatory framework. The Union Parliament passed the IPRDA [Interim Pension Fund Regulatory & Development Authority] Bill in February 2003 as a Budget Announcement, approved by the then President of India, Dr. APJ Abdul Kalam. It was meant to be in place till the final and fool-proof system was prepared, re-approved, and implemented in a way acceptable to all political parties in India, including the opposition.
On 18 September 2013, the President, Pranab Mukherjee, gave his assent to Pension Fund Regulatory and Development Authority Bill of 2013, which was passed in the Monsoon Session of Parliament on 4 September 2013 in the Lok Sabha and 6 September 2013 in the Rajya Sabha, to make it a Permanent Act of the Indian Constitution. This improved, foolproof and re-approved Bill, with the acceptance of all political parties in India, has replaced the old and imperfect IPRDA Bill of 2003. The President of India is the guardian of the PFRDA, subject to his Financial Emergency Powers, as per the Articles of Indian Constitution.
PFRDA recruitment offers great career opportunities for several posts such as Assistant Manager. Interested candidates can pursue courses in Master’s Degree in Economics/ Commerce/ Business Administration, Post Graduate Degree/ Post-Graduate Diploma in Management for a great career at Pension Fund Regulatory and Development Authority.
Official Address
Contact Information
- 011-26517501,011-26517503,011-26517097
- Visit Official Website
This organization has released 4 recruitment notifications in the last 3 years.
Expired / Closed Notifications
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PFRDA Invites Application for Junior Economist Recruitment 2021Closed: Dec 27, 2021
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PFRDA Invites Application for Chief Information Security Officer Recruitment 2021Closed: Dec 27, 2021
About PFRDA Careers
| Details | The Pension Fund Regulatory and Development Authority (PFRDA) is a statutory body responsible for regulating the pension sector in India. It oversees the National Pension System (NPS) and other pension schemes, ensuring subscriber protection and the orderly growth of the pension market. Working at PFRDA offers a significant opportunity to contribute to the financial security of millions of Indians. |
|---|---|
| Type | Statutory Body |
| Headquarters | New Delhi, India |
| Entry Gateways | Typically through direct recruitment based on competitive examinations or deputation. Specific exams may include those conducted by PFRDA itself or common exams for government bodies. |
| Salary Range | Officer Grade B positions are generally placed at Level 10 in the Pay Matrix, with starting basic pay of ₹56,100 per month, exclusive of allowances. Higher posts command commensurate pay scales. |
Organization Overview
PFRDA was established on August 23, 2003, under the PFRDA Act, 2003. Its primary mandate is to protect the interests of subscribers to schemes that are regulated by it. PFRDA also advocates for the development of the pension sector, guiding the industry towards efficiency and transparency. The organization is crucial for the financial well-being of a large segment of the Indian population.
Key Job Profiles
PFRDA typically recruits for roles such as:
- Officer Grade B (Generalist)
- Officer Grade A (Assistant Manager)
- Various administrative and support roles
These roles are critical for the day-to-day functioning, policy formulation, and regulatory oversight within the authority.
Salary & Benefits
PFRDA offers competitive salaries in line with central government pay scales. Officers at the entry-level (e.g., Officer Grade B) are usually placed in Level 10 of the Pay Matrix, starting with a basic pay of ₹56,100. In addition to the basic pay, employees receive various allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), and Transport Allowance (TA), along with comprehensive medical benefits, leave entitlements, and contribution to the National Pension System (NPS).
Selection Process
The selection process for PFRDA recruitment generally involves multiple stages to assess the candidates thoroughly. This typically includes:
- Phase I: Online Examination (Objective and Descriptive Papers)
- Phase II: Online Examination (Descriptive Paper) / Interview
- Phase III: Interview
The specific structure and syllabus can vary based on the post, and candidates are advised to refer to the official notification for detailed information.
How to Crack PFRDA Exams
1. Understand the Syllabus: Thoroughly grasp the syllabus for each phase of the examination. Pay close attention to sections like English, Reasoning, Quantitative Aptitude, General Awareness, and specialized subjects related to finance and economics.
2. Study Materials: Utilize standard textbooks, government reports (e.g., PFRDA annual reports, NPS reports), and reputable online resources. Focus on conceptual clarity.
3. Practice Previous Papers: Solve previous years' question papers to understand the exam pattern, difficulty level, and important topics.
4. Mock Tests: Take regular mock tests to assess your preparation level, improve time management, and identify weak areas.
5. Current Affairs: Stay updated with current economic and financial news, especially related to pension reforms, financial markets, and regulatory developments in India.
6. Interview Preparation: Prepare for the interview by brushing up on your knowledge of PFRDA's functions, NPS, regulatory frameworks, and current economic affairs. Be ready to discuss your strengths and suitability for the role.
All details are sourced from official notifications. MySarkariNaukri.com provides informational guidance only and is not affiliated with any government agency.
Verification Source: https://www.pfrda.org.in/
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