The Pension Fund Regulatory and Development Authority Act, 2013

The Pension Fund Regulatory and Development Authority Act, 2013 was enacted by the Parliament of India to provide for the regulation of the pension industry in India and to establish the Pension Fund Regulatory and Development Authority (PFRDA) as the regulator of the industry. The Act aims to promote old-age income security by establishing a framework for the regulation and development of pension funds and pension schemes in India. The Act defines the roles and responsibilities of the PFRDA, outlines the powers of the regulator, and establishes a framework for the registration and regulation of pension funds and pension schemes. The Act also provides for the creation of a Pension Advisory Committee to advise the PFRDA on matters related to pension funds and pension schemes. The Act enables the PFRDA to promote the development of the pension industry by encouraging participation of private sector and foreign entities in pension funds and pension schemes.