Date: 2025-10-16Category: Public Private Partnership in IndiaState: Union GovernmentCountry: India
Clarification on permitting the Points of Presence for engagement of Non-Individual Intermediaries registered with any financial sector regulator like RBI, IRDAI, SEBI, and PFRDA as Pension Agents for distribution of Pension Schemes
Circular PFRDA/2025/17/REG-POP/02, dated October 16th, 2025, clarifies the engagement of Non-Individual Intermediaries registered with financial sector regulators (RBI, IRDAI, SEBI, and PFRDA) as Pension Agents for pension scheme distribution by Points of Presence (POPs). This clarifies circular PFRDA/2025/12/REG-POP/01 dated September 23rd, 2025. Non-Individual Intermediaries registered with financial sector regulators like RBI, IRDAI, SEBI, or PFRDA may be engaged by POPs as Pension Agents, subject to compliance with PFRDA Act, 2013, and regulations prescribed by their respective regulators. All other terms remain unchanged. This is issued under Regulation 45 of PFRDA (Point of Presence) Regulations, 2018 and Section 14 of the PFRDA Act, 2013. For inquiries, contact Ashish Kumar, Chief General Manager. Address: 5th Floor, Tower E, World Trade Center, Nauroji Nagar, New Delhi – 110 029. Phone: 011 - 26517501, 26517503. Website: www.pfrda.org.in.
Key Entities Referenced
Pension Fund Regulatory and Development Authority (PFRDA): The primary regulator and issuer of the circular concerning pension schemes and Points of Presence (POPs).
PFRDA Act, 2013: Governing act for the regulation and development of the pension sector, compliance mentioned in the circular
Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018: Regulations governing the operations of Points of Presence (POPs), referenced regarding engagement of Pension Agents.
Points of Presence (POPs): Entities engaged as Pension Agents for distribution of Pension Schemes.
RBI, IRDAI, SEBI: Financial sector regulators whose registered intermediaries are addressed in the circular
CIRCULAR
Circular No: PFRDA/2025/17/REG-POP/02 Date: 16th October 2025
To
All Points of Presence (POPs)
Subject: Clarification on permitting the Points of Presence for engagement of Non-Individual
Intermediaries registered with any financial sector regulator like RBI, IRDAI, SEBI, and PFRDA as
Pension Agents for distribution of Pension Schemes.
This is in reference to the circular PFRDA/2025/12/REG-POP/01 dated 23rd September 2025 on
Permitting the Points of Presence for engagement of 'other persons' as Pension Agents for distribution of
Pension Schemes under Regulation 2(1)(j)(iv) of PFRDA (Point of Presence) Regulations, 2018, subject to
approval by the Board of POPs.
2. With reference to clause 3(a) of the aforesaid circular, it is hereby clarified that Non-Individual
Intermediaries registered with any financial sector regulator namely the Reserve Bank of India (RBI),
Insurance Regulatory and Development Authority of India (IRDAI), Securities and Exchange Board of
India (SEBI), or the Pension Fund Regulatory and Development Authority (PFRDA) may be engaged by
Points of Presence (POPs) as Pension Agents for the distribution of pension schemes governed under the
PFRDA Act, 2013, subject to compliance with, and as permitted under the applicable regulations, circulars,
guidelines, and terms and conditions prescribed by their respective regulators.
3. All other terms and condition of the aforementioned circular remains unchanged.
4. This circular is issued in exercise of the powers conferred under Regulation 45 of Pension Fund
Regulatory and Development Authority (Point of Presence) Regulations, 2018 and under Section 14 of the
Pension Fund Regulatory and Development Authority Act, 2013, with the approval of competent authority.
Yours Sincerely,
Ashish Kumar
(Chief General Manager)
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5th Floor, Tower E, World Trade Center, Nauroji Nagar, New Delhi – 110 029
Phone: 011 - 26517501, 26517503. website: www.pfrda.org.in