New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following organizations is the regulatory

    body for the Pension sector in India?
    A IRDAI Correct Answer Incorrect Answer
    B PFRDA Correct Answer Incorrect Answer
    C RBI Correct Answer Incorrect Answer
    D LIC Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Pension Fund Regulatory and Development Authority (PFRDA) is the regulatory body under the jurisdiction of the Ministry of Finance , Government of India for overall supervision and regulation of pensions in India. On 23 August 2003, Interim Pension Fund Regulatory & Development Authority (PFRDA) was established. The contributory pension system was notified by the Government of India on 22 December 2003, now named the National Pension System (NPS) with effect from 1 January 2004.

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