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Pension Fund Regulatory and Development Authority (PFRDA/Authority), is a statutory regulatory body in the financial sector established under PFRDA Act (23 of 2013) passed by the Parliament of India with the mandate to promote, develop and regulate the Pension industry in India.
PFRDA invites applications from Indian citizens for filling up the posts of Officer Grade ‘A’ (Assistant Manager) in General and Legal Stream. PFRDA reserves the right to increase or decrease, fill up or not to fill up the posts or terminate this process at any stage and accordingly, the applicants shall have no right to participate further in the selection process.
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About the Company:
The Pension Fund Regulatory & Development Authority Act was passed on 19th September, 2013 and the same was notified on 1st February, 2014. PFRDA is regulating NPS, subscribed by employees of Govt. of India, State Governments and by employees of private institutions/organizations & unorganized sectors. The PFRDA is ensuring the orderly growth and development of pension market.
The Government of India had, in the year 1999, commissioned a national project titled “OASIS” (an acronym for old age social & income security) to examine policy related to old age income security in India. Based on the recommendations of the OASIS report, Government of India introduced a new Defined Contribution Pension System for the new entrants to Central/State Government service, except to Armed Forces, replacing the existing system of Defined Benefit Pension System. On 23rd August, 2003, Interim Pension Fund Regulatory & Development Authority (PFRDA) was established through a resolution by the Government of India to promote, develop and regulate pension sector in India. The contributory pension system was notified by the Government of India on 22nd December, 2003, now named the National Pension System (NPS) with effect from the 1st January, 2004. The NPS was subsequently extended to all citizens of the country w.e.f. 1st May, 2009 including self employed professionals and others in the unorganized sector on a voluntary basis.