The Pension Fund Regulatory and Development Authority:
The Pension Fund Regulatory and Development Authority (PFRDA) crossed the milestone of Rs 6 lakh crore (Rs 6 trillion) of Assets Under Management (AUM) under the National Pension System (NPS) and Atal Pension Yojana (APY), after 13 years.
- Pension Fund Regulatory and Development Authority (PFRDA) is the statutory authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the National Pension System (NPS) and pension schemes to which this Act applies.
- NPS was initially notified for central government employees recruits w.e.f. 1st January 2004 and subsequently adopted by almost all State Governments for its employees.
- NPS was extended to all Indian citizens (resident/non-resident/overseas) on a voluntary basis and to corporates for its employees.
