Pension Fund Regulatory & Development Authority (PFRDA) Invites Application for Legal Consultant Recruitment 2022

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.