Question
What is the maximum quantum of award/compensation that
can be awarded by Ombudsman of PFRDA?Solution
PFRDA appoints an ombudsman to resolve grievances relating to the National Pension System (NPS) and Atal Pension Yojana (APY). The Ombudsman has the power to pass orders and impose fines. Ombudsman can pass awards up to Rs. 10 lakh. Grievances could include issues like delay in remitting pension contributions to the NPS account, even though they have been deducted from the subscriber’s salary.
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