Central Government introduces New rules for PFRDA Salaries & Allowances

The Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Amendment Rules, 2023 have been issued by the Ministry of Finance, Department of Financial Services, on March 22, 2023. These rules amend the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014, and come into effect from the date of their publication in the Official Gazette. The amendment pertains to the appointment of the chairperson and whole-time members of the Pension Fund Regulatory and Development Authority and specifies that they shall be appointed by the Central Government on the recommendation of the Financial Sector Regulatory Appointment Search Committee.

Pension Fund Regulatory and Development Authority (Salary and Allowances Payable) Amendment Rules, 2023

MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION

New Delhi, the 22nd March, 2023

G.S.R. 209(E). – In exercise of the powers conferred by clause (a) of sub-section (2) of section 51, read with sub-section (3) of section 5 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Central Government hereby makes the following rules further to amend the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Amendment Rules, 2014, namely:-

1. (1) These rules may be called the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Amendment Rules, 2023.
   (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014, in rule 3,
   (i) for sub rule (1), the following sub rule shall be substituted namely: –

“(1) The chairperson of the Pension Fund Regulatory and Development Authority and every whole-time member thereof shall be appointed by the Central Government on the recommendation of the Financial Sector Regulatory Appointment Search Committee.”,

(ii) in sub rule (2), for the words “Selection Committee”, the words “Financial Sector Regulatory Appointment Search Committee” shall be substituted.

[F. No. 11/5/2014-PR]
PANKAJ SHARMA, Jt. Secy.

Note: The principal rules were published in the Gazette of India, Extraordinary, vide notification number G.S.R. 597 (E) dated 20th August, 2014, subsequently amended vide notification numbers G.S.R. 987 (E) dated 2nd August, 2017, G.S.R. 07 (E) dated 2nd January, 2018 and G.S.R. 731 (E) dated 11th October, 2021.