Definition
PFRDA
PFRDA is the Pension Fund Regulatory and Development Authority, which regulates the National Pension System and promotes old-age income security.
The PFRDA oversees the National Pension System (NPS) and the Atal Pension Yojana, regulating pension fund managers, the central recordkeeping agency and points of presence. Its goal is to build a sustainable, well-governed pension sector for a rapidly ageing population.
It sets rules on investment patterns, charges, withdrawals and annuitisation, balancing returns with safety for retirement savings. By regulating NPS and related schemes, PFRDA complements the EPFO in providing long-term income security to both organised and unorganised workers.
Related terms
- SEBISEBI is the Securities and Exchange Board of India, the statutory regulator of the securities markets, protecting investors and overseeing exchanges, intermediaries and listed companies.
- IRDAIIRDAI is the Insurance Regulatory and Development Authority of India, which regulates and supervises the insurance industry and protects policyholders.
- Atal Pension YojanaAtal Pension Yojana is a government-backed pension scheme for workers, mainly in the unorganised sector, offering a guaranteed minimum pension after age sixty.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.