Question
As per the PFRDA Act, 2013, what is the primary function
of the Pension Fund Regulatory and Development Authority (PFRDA)?Solution
The PFRDA was established under the PFRDA Act, 2013 to act as the regulator for the pension sector in India. Its primary function, as stated in Section 14(1) of the Act, is to regulate, promote, and ensure the orderly growth of the National Pension System (NPS) and other pension schemes not regulated by any other enactment. It ensures protection of subscribers' interests and development of the pension market in India.
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