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      Question

      As per the PFRDA Act, 2013, what is the primary function

      of the Pension Fund Regulatory and Development Authority (PFRDA)?
      A To regulate insurance-based pension schemes Correct Answer Incorrect Answer
      B To issue licenses for insurance companies Correct Answer Incorrect Answer
      C To regulate, promote, and ensure orderly growth of the pension sector Correct Answer Incorrect Answer
      D To manage pension accounts of government employees only Correct Answer Incorrect Answer
      E To collect taxes on pension income Correct Answer Incorrect Answer

      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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