Executive Summary:
This document contains amendments to the Pension Fund Regulatory and Development Authority (PFRDA) Salary and Allowances Rules of 2014. The amendments, effective from the date of publication in the Official Gazette (August 2, 2017), concern the composition of the Selection Committee responsible for recommending appointments of the Chairperson and Whole-time Members of the PFRDA.
Key Points / Main Content:
Amendment Overview:
* The document amends 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.
* The amendments are called the "Pension Fund Regulatory and Development Authority Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Wholetime Members Amendment Rules, 2017."
Effective Date:
* The rules came into force on August 2, 2017, the date of their publication in the Official Gazette.
Selection Committee Composition (Rule 3 Amendment):
* The Central Government appoints the Chairperson and Whole-time members based on recommendations from a Selection Committee.
* The Selection Committee consists of:
* Cabinet Secretary (Chairman)
* Additional Principal Secretary to the Prime Minister (Member)
* Secretary, Ministry of Finance, Department of Financial Services (Member)
* Chairperson, Pension Fund Regulatory and Development Authority (Member): for selection of wholetime Member
* Three outside experts nominated by the Central Government (Member).
Impact Analysis:
Central Government:
* Impact: The Central Government is responsible for nominating three outside experts to the Selection Committee from a panel of experts it maintains.
* Action Required: Nominate three experts from the fields of Finance, Economics, Law, Public Administration, Financial Markets and related subjects.
Pension Fund Regulatory and Development Authority (PFRDA) Chairperson and Whole-time Members:
* Impact: The selection process for their appointment and terms of service is modified due to the change in the Selection Committee's composition.
* Action Required: Be aware of the revised selection process involving the new Selection Committee composition.
Selection Committee Members:
* Impact: The responsibilities of the Selection Committee members are defined.
* Action Required: Perform duties related to the selection and recommendation of candidates.
Key Entities Referenced
Pension Fund Regulatory and Development Authority: A regulatory body established in India to promote, develop, and regulate pension funds.
Pension Fund Regulatory and Development Authority Act, 2013: An act of the Indian Parliament that established the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Wholetime Members Rules, 2014: Rules governing the salary, allowances, and service conditions of the Chairperson and Whole-time Members of the Pension Fund Regulatory and Development Authority.
Central Government: The executive authority of the Union of India.
Selection Committee: A committee constituted by the Central Government to recommend candidates for the positions of Chairperson and Whole-time Members of the Pension Fund Regulatory and Development Authority.
Cabinet Secretary: The senior-most civil servant in the Government of India.
Ministry of Finance: A ministry in the Government of India responsible for the country's finances.
New Delhi: The capital of India
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EXTRAORDINARY
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PART II—Section 3—Sub-section (i)
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PUBLISHED BY AUTHORITY
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No. 671] NEW DELHI, WEDNESDAY, AUGUST, 2 2017/SRAVANA 11, 1939
ििििवववव(cid:7275)(cid:7275)(cid:7275)(cid:7275) ममममं(cid:7074)ं(cid:7074)ं(cid:7074)ं(cid:7074)ााााललललयययय
((((ििििवववव(cid:7275)(cid:7275)(cid:7275)(cid:7275)ीीीीयययय ससससववेेववेे ााााएएएएंं ंं ििििववववभभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:7408)द(cid:7016)ली, 2 अग(cid:7021) त, 2017
ससससाााा....ककककाााा....ििििनननन.... 999988887777((((अअअअ))))....————के(cid:7008) (cid:7076)ीय सरकार, प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण अिधिनयम, 2013
(2013 का 23) क(cid:7409) धारा 5 क(cid:7409) उप-धारा (3) के साथ प(cid:7407)ठत धारा 51 क(cid:7409) उप-धारा (2) के खंड (क) (cid:7367)ारा (cid:7079)द(cid:7004) त
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शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, एत (cid:7367)ारा, प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (अ(cid:7007)य(cid:6979) तथा पूण(cid:6981)कािलक
सद(cid:7021)य(cid:7298) को दये वेतन एवं भ(cid:7275)े और सेवा क(cid:7409) अ(cid:7008)य िनबंधन एवं शत(cid:7288)) िनयमावली, 2014 म(cid:7286) संशोधन करने के िलए
िन(cid:7388)िलिखत िनयम बनाती ह,ै नामत::—
I (1) इन िनयम(cid:7298) को प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (अ(cid:7007)य(cid:6979) तथा पूण(cid:6981)कािलक सद(cid:7021)य(cid:7298)
को दये वेतन एवं भ(cid:7275) े और सवे ा क(cid:7409) अ(cid:7008)य िनबंधन एवं शत)(cid:7288) िनयमावली, 2017 कहा जाएगा।
(2) ये िनयम राजप(cid:7074) म(cid:7286) (cid:7079)काशन क(cid:7409) तारीख से (cid:7079)वृ(cid:7275) ह(cid:7298)गे।
II. प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (अ(cid:7007)य(cid:6979) तथा पूण(cid:6981)कािलक सद(cid:7021)य(cid:7298) को दये वेतन एवं भ(cid:7275)े
और सेवा क(cid:7409) अ(cid:7008)य िनबंधन एवं शत(cid:7288)) िनयमावली, 2014 म(cid:7286) िनयम 3 के उप-िनयम (1) म(cid:7286) िन(cid:7388)िलिखत उप-िनयम
को (cid:7079)ित(cid:7021)थािपत (cid:7408)कया जाएगा, नामत::—
“(1) प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण के अ(cid:7007)य(cid:6979) और इसके (cid:7079)(cid:7004)येक पूण(cid:6981)कािलक सद(cid:7021)य क(cid:7409) िनयिु (cid:7334)
के(cid:7008)(cid:7076) सरकार (cid:7367)ारा चयन सिमित क(cid:7409) अनुशंसा पर क(cid:7409) जाएगी िजसम(cid:7286) िन(cid:7388)िलिखत शािमल ह(cid:7298)गे, नामत::—
4658 GI/2017 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(क) मंि(cid:7074)म(cid:7003)डल सिचव —अ(cid:7007)य(cid:6979)
(ख) (cid:7079)धान मं(cid:7074)ी के अपर (cid:7079)धान सिचव —सद(cid:7021)य
(ग) सिचव, िव(cid:7275) मं(cid:7074)ालय, िव(cid:7275)ीय सेवाए ं िवभाग —सद(cid:7021)य
(घ) अ(cid:7007)य(cid:6979), प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण —सद(cid:7021)य
(पूण(cid:6981)कािलक सद(cid:7021)य के चयन के िलए)
(ड.) तीन (cid:6990)याित(cid:7079)ा(cid:7385) बा(cid:7405) िवशेष(cid:6980)
(के(cid:7008)(cid:7076) सरकार (cid:7367)ारा िव(cid:7275), अथ(cid:6981)शा(cid:7403), िविध, लोक (cid:7079)शासन,
िव(cid:7275)ीय बाजार के (cid:6979)े(cid:7074)(cid:7298) तथा इसके (cid:7367)ारा अनुरि(cid:6979)त िवषय(cid:7298)
के िवशेष(cid:6980)(cid:7298) के पैनल से नािमत (cid:7408)कया जाना ह)ै —सद(cid:7021)य”
[फा. सं. 11/5/2014–पीआर]
सुची(cid:7008)(cid:7076) िम(cid:7088), संयु(cid:7334) सिचव
(cid:7407)(cid:7407)(cid:7407)(cid:7407)टटटट(cid:7009)(cid:7009)(cid:7009)(cid:7009)पपपपणणणणीीीी: मूल िनयम भारत के राजप(cid:7074), असाधारण म(cid:7286) 20 अग(cid:7021)त, 2014 के सा.का.िन. 597(अ) के (cid:7367)ारा (cid:7079)कािशत
(cid:7408)कए गए थे।
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 2nd August, 2017
G.S.R. 987(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 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) Rules, 2014, namely:—
I. (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, 2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
II. 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, 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 a Selection
Committee consisting of the following, namely:—
(a) Cabinet Secretary —Chairman;
(b) Additional Principal Secretary to the Prime Minister —Member;
(c) Secretary, Ministry of Finance, Department of Financial Services —Member;
(d) Chairperson, Pension Fund Regulatory and Development Authority —Member:
(for selection of whole-time Member)¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3
(e) Three outside experts of repute
(to be nominated by the Central Government from a
panel of experts in the fields of Finance, Economics,
Law, Public Administration, Financial Markets
and related subjects to be maintained by it) —Member”.
[F. No. 11/5/2014-PR]
SUCHINDRA MISRA, 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.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.