**Executive Summary**
This document is a notification from the Pension Fund Regulatory and Development Authority (PFRDA) regarding the reconstitution of the Pension Advisory Committee. It is effective from the date of this notification, January 5, 2026. The notification is issued in accordance with Section 45(1) of the PFRDA Act, 2013, and Regulation 6(4) of the PFRDA (Pension Advisory Committee Meetings) Regulations, 2015.
**Key Points / Main Content**
* **Reconstitution of the Pension Advisory Committee:**
* The Pension Advisory Committee, previously formed via a Gazette Notification dated May 19, 2022, has been reconstituted.
* The reconstituted committee takes effect from January 5, 2026.
* **Committee Composition:**
The notification lists the members of the reconstituted Pension Advisory Committee, including:
* Government Officials: Deputy Secretary (Establishment II) of Department of Personnel & Training; Deputy Controller General of Accounts (Technical Advice), Department of Expenditure, Ministry of Finance; Director (A/Cs), Department of Posts, New Delhi; Director (Fin/Budget), Defence Finance, representative of Ministry of Defence; Director, Budget, Department of Finance, Bhopal, Government of Madhya Pradesh.
* Financial Sector Representatives: Chief Executive-Indian Banks' Association; Chairman, NPS Trust; Managing Director & Chief Executive Officer, SBI Pension Funds Private Limited; Managing Director & Chief Executive Officer, Axis Pension Fund Management Limited; Managing Director & Chief Executive Officer, Protean eGov Technologies Limited (formerly NSDL e-Governance Infrastructure Ltd.); Director, National Institute of Bank Management, Pune; President, Institute of Actuaries of India; Chief Executive Officer, Fixed Income Money Market and Derivatives Association of India.
* Industry Experts: Chairman – CII-National Committee on Insurance & Pensions; Dr. M.S. Sahoo, former Chairperson, IBBI; Shri Dhirendra Kumar, Founder & CEO, Value Research; Ms Chitra Jayasimha, Expert in Actuarial Science and Ex-Chairman, NPS Trust.
* **Chairpersonship:**
* The Chairperson of the Authority will be the ex-officio Chairperson of the Pension Advisory Committee.
* The members of the Authority will be ex-officio members of the Pension Advisory Committee.
**Impact Analysis**
**Pension Fund Regulatory and Development Authority (PFRDA)**
* **Impact:** The PFRDA is responsible for implementing the reconstitution and ensuring the smooth functioning of the Pension Advisory Committee.
* **Action Required:** The PFRDA must ensure the new committee members are informed and engaged effectively.
**Members of the Pension Advisory Committee**
* **Impact:** The listed individuals now constitute the reconstituted committee.
* **Action Required:** Committee members need to participate in advisory functions as required by the PFRDA.
**Pension Stakeholders (e.g., Pension Fund Managers, NPS Subscribers)**
* **Impact:** The reconstituted committee will advise the PFRDA, potentially influencing pension policies and regulations, thus indirectly affecting these stakeholders.
* **Action Required:** Monitor the activities and recommendations of the committee.
Key Entities Referenced
Pension Fund Regulatory and Development Authority (PFRDA): The primary regulator for pension funds in India, responsible for issuing this notification.
Pension Fund Regulatory and Development Authority Act, 2013: The enabling legislation that provides the PFRDA the authority to take actions outlined in the notification, specifically Section 45(1).
Pension Advisory Committee: The committee being reconstituted by this notification, advising the PFRDA.
Pension Fund Regulatory and Development Authority (Pension Advisory Committee Meetings) Regulations, 2015: Regulations governing the meetings and structure of the Pension Advisory Committee.
New Delhi: Location where the notification is issued and where some committee members are based.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-08012026-269210
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CG-DL-E-08012026-269210
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 18] नई दिल्ली, बुधिार, िनिरी 7, 2026/पौष 17, 1947
No. 18] NEW DELHI, WEDNESDAY, JANUARY 7, 2026/PAUSHA 17, 1947
पिें न जनजध जिजनयामक और जिकास प्राजधकरण
अजधसचू ना
नई दिल्ली, 5 िनिरी, 2026
फा. स.ं पीएफआरडीए-01/13/13/0004/2025-पीएसी.—पेंिन जनजध जिजनयामक और जिकास प्राजधकरण
अजधजनयम, 2013 (2013 का 23) की धारा 45 की उप-धारा (1) के द्वारा प्रित्त िजियों का प्रयोग करते हुए, और पेंिन
जनजध जिजनयामक और जिकास प्राजधकरण (पिें न सलाहकार सजमजत की बैठकें) जिजनयम, 2015 के जिजनयम 6 के
उप-जिजनयम 4 के जनबंधनों के अनुरूप प्राजधकरण, एततद्वारा, पूिव म ेंरािपत्र अजधसूचना दिनांक 19 मई, 2022 के माध्यम
से गठठत पेंिन सलाहकार सजमजत को, इस अजधसूचना के लाग ूहोने की जतजि से पुनगवठठत करता ह।ै पुनगवठठत पेंिन सलाहकार
सजमजत जनम्नजलजखत ह ै:
1. उप सजचि (स्ट्िापना II), कार्मवक और प्रजिक्षण जिभाग
2. उप लेखा महाजनयंत्रक (तकनीकी सलाह), व्यय जिभाग, जित्त मत्रं ालय
3. जनिेिक (लेखा), डाक जिभाग, नई दिल्ली
4. जनिेिक (जित्त/बिट), रक्षा जित्त, रक्षा मंत्रालय के प्रजतजनजध के रूप में
145 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
5. जनिेिक, बिट, जित्त जिभाग, भोपाल, मध्य प्रिेि सरकार
6. मुख्य कायवकारी-इंजडयन बैंक्स एसोजसएिन
7. अध्यक्ष, एनपीएस न्यास
8. प्रबंध जनिेिक एिं मुख्य कायवकारी अजधकारी, एस बी आई पेंिन फंड्स प्राइिेट जलजमटेड
9. प्रबंध जनिेिक एिं मुख्य कायवकारी अजधकारी, एजक्सस पेंिन फंड मैनेिमेंट जलजमटेड
10. प्रबंध जनिेिक एि ं मुख्य कायवकारी अजधकारी, प्रोठटयन ईगॉि टेक्नोलॉिीज़ जलजमटेड
(पूिव में एनएसडीएल ई-गिनेंस इंफ्रास्ट्रक्चर जलजमटेड)
11. जनिेिक, नेिनल इंस्ट्टीट्यूट ऑफ़ बैंक मैनेिमेंट, पणु े
12. अध्यक्ष, इंस्ट्टीट्यूट ऑफ एक्चअु रीज़ ऑफ इंजडया
13. मुख्य कायवकारी अजधकारी, दफक्स्ट्ड इनकम मनी माकेट एंड डेठरिेठटव्स एसोजसएिन ऑफ इंजडया
14. अध्यक्ष – सीआईआई – नेिनल कजमटी ऑन इन््योरेंस एडं पिें न्स
15. डॉ. एम.एस. साहू, पूि वअध्यक्ष, आईबीबीआई
16. श्री धीरेंद्र कुमार, संस्ट्िापक और सीईओ, िैल्य ूठरसचव
17. सुश्री जचत्रा ियजसम्हा, एक्चुअठरयल साइंस जििेषज्ञ और पूिव अध्यक्ष, एनपीएस न्यास
प्राजधकरण के अध्यक्ष और सिस्ट्य पेंिन सलाहकार सजमजत के पिेन अध्यक्ष और पिेन सिस्ट्य होंगे।
जििसुब्रमाजणयन रमण, अध्यक्ष
[जिज्ञापन-III/4/असा./590/2025-26]
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 5th January, 2026
F. No. PFRDA-01/13/13/0004/2025-PAC.—In exercise of the powers conferred by sub-section (1) of
section 45 of the Pension Fund Regulatory and Development Authority Act, 2013 (Act 23 of 2013), and in terms of
the sub regulation 4 of the regulation 6 of Pension Fund Regulatory and Development Authority (Pension Advisory
Committee Meetings) Regulations, 2015, the Authority hereby reconstitutes the Pension Advisory Committee
constituted earlier vide Gazette Notification dated 19th May, 2022, with effect from the date of this notification. The
reconstituted Pension Advisory Committee is as under:
1. Deputy Secretary (Establishment II), Department of Personnel & Training
2. Deputy Controller General of Accounts (Technical Advice), Department of Expenditure, Ministry of Finance
3. Director (A/Cs), Department of Posts, New Delhi
4. Director (Fin/Budget), Defence Finance, as representative of Ministry of Defence
5. Director, Budget, Department of Finance, Bhopal, Government of Madhya Pradesh
6. Chief Executive-Indian Banks’ Association
7. Chairman, NPS Trust
8. Managing Director & Chief Executive Officer, SBI Pension Funds Private Limited
9. Managing Director & Chief Executive Officer, Axis Pension Fund Management Limited
10. Managing Director & Chief Executive Officer, Protean eGov Technologies Limited. (formerly NSDL e-
Governance Infrastructure Ltd.)[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3
11. Director, National Institute of Bank Management, Pune
12. President, Institute of Actuaries of India
13. Chief Executive Officer, Fixed Income Money Market and Derivatives Association of India
14. Chairman – CII-National Committee on Insurance & Pensions
15. Dr. M.S. Sahoo, former Chairperson, IBBI
16. Shri Dhirendra Kumar, Founder & CEO, Value Research
17. Ms Chitra Jayasimha, Expert in Actuarial Science and Ex-Chairman, NPS Trust
The Chairperson and the Members of the Authority shall be the ex officio Chairperson and ex officio members of the
Pension Advisory Committee.
SIVASUBRAMANIAN RAMANN, Chairperson
[ADVT.-III/4/Exty./590/2025-26]
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