Date: 2022-04-13Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by sub section 2 of section 11 read with sub clause b of sub section 2 of section 52 of the Pension Fund Regulatory and Development Authority Act,
## Report on the Pension Fund Regulatory and Development Authority Employees Service Amendment Regulations, 2022
**1. Executive Summary:**
This report analyzes the Pension Fund Regulatory and Development Authority (PFRDA) Employees Service Amendment Regulations, 2022, as published in the Gazette of India on April 13, 2022. This amendment modifies the PFRDA Employees Service Regulations, 2015, primarily impacting recruitment procedures and qualification/experience requirements for direct recruits in Grade D, E, and F, particularly for the Actuarial Stream. The key changes relate to the proportion of posts filled through different recruitment modes and the addition of specific actuarial qualifications and experience.
**2. Introduction:**
This report aims to provide a detailed overview of the Pension Fund Regulatory and Development Authority Employees Service Amendment Regulations, 2022, based solely on the information presented in the provided policy text. It will focus on the specific changes introduced by the amendment, their rationale (as can be inferred), and their potential impact.
**3. Policy Overview:**
* This is an amendment to the Pension Fund Regulatory and Development Authority Employees Service Regulations, 2015.
* The core objective of this amendment, inferred from the text, is to refine the recruitment process and to specify qualification requirements for actuarial roles within the PFRDA.
**4. Background and Rationale:**
The rationale for this amendment likely stems from a need to adjust the existing recruitment strategies and to ensure that individuals with appropriate actuarial expertise are recruited for specific positions within the PFRDA. The addition of specific qualifications related to the Institute of Actuaries of India suggests a desire to enhance the technical competence of actuarial staff.
**5. Key Provisions / Changes:**
This amendment introduces two key changes to the PFRDA Employees Service Regulations, 2015:
* **I. Modification of Recruitment Mode Proportions:**
* **Original Policy (Inferred):** The original policy stipulated a different proportion of posts to be filled through Promotion, Deputation, Direct Recruitment, and Contract basis.
* **New Rule:** The amendment changes the filling of posts through different modes as follows:
* 2/3rd of the total posts to be filled from internal candidates
* 1/3rd posts to be filled by deputation/direct recruitment/contract. In case of non-availability in any category i.e., internal and deputation/direct recruitment/contract, the post may be filled from other categories.
* **Effect:** This change likely aims to increase internal promotions while maintaining flexibility in hiring through deputation, direct recruitment, or contract.
* **II. Addition of Actuarial Qualification and Experience Requirements:**
* **Original Policy (Inferred):** The original policy had general qualification and experience requirements for direct recruits for Grade D, E, and F.
* **New Rule:** For officers in the Actuarial Stream (Grade D, E, and F):
* **Qualification:** Graduation from a recognized university and Fellow of the Institute of Actuaries of India (IAI).
* **Experience:** Out of the minimum 11/14/17 years of post-qualification experience in officer cadre, five years as Fellow of the Institute of Actuaries of India (IAI).
* **Effect:** This change introduces a mandatory actuarial qualification (Fellow of IAI) and specifies a minimum experience as a Fellow of IAI for direct recruits in the Actuarial Stream, ensuring a higher level of actuarial expertise.
**6. Target Audience and Stakeholders:**
The direct stakeholders affected by this amendment are:
* **Current PFRDA Employees:** Potentially impacted by the revised recruitment proportions, especially those seeking promotions.
* **Prospective Actuarial Stream Applicants:** Directly affected by the new qualification and experience requirements.
* **PFRDA HR Department:** Responsible for implementing the revised recruitment procedures.
**7. Implementation Aspects (Inferred):**
* **Responsible Agency:** The Pension Fund Regulatory and Development Authority (PFRDA) is the responsible body, as indicated by the notification.
* **Timelines:** The regulations come into force on the date of their publication in the Official Gazette, i.e., April 13, 2022.
* The PFRDA HR department needs to revise its recruitment processes and job descriptions to reflect the new rules.
**8. Expected Outcomes / Impact of Changes:**
The likely intended outcomes of these changes are:
* **Improved Internal Career Progression:** The altered recruitment proportions may foster internal career progression.
* **Enhanced Actuarial Expertise:** Requiring specific actuarial qualifications should lead to a higher level of actuarial expertise within the PFRDA, potentially improving the quality of its regulatory oversight and decision-making related to pension funds.
* **More targeted Recruitment:** The defined qualifications and experience makes the recruitment more specific.
**9. Conclusion:**
The PFRDA Employees Service Amendment Regulations, 2022, represent a refinement of the existing employee service regulations, with a particular focus on modifying recruitment practices and standardizing the qualifications for actuarial positions. These changes are likely intended to improve the internal candidate pipeline and to enhance the expertise of the PFRDA staff, ultimately contributing to the effective regulation and development of the pension fund industry.
Key Entities Referenced
Pension Fund Regulatory and Development Authority: A regulatory body established by the Pension Fund Regulatory and Development Authority Act, 2013.
Pension Fund Regulatory and Development Authority Act, 2013: The act of the Parliament of India that established the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority Employees Service Regulations, 2015: Regulations pertaining to the service conditions of employees of the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority Employees Service Amendment Regulations, 2022: Amendments made in 2022 to the Pension Fund Regulatory and Development Authority Employees Service Regulations, 2015.
Reserve Bank of India: The central bank of India.
Institute of Actuaries of India: A professional body for actuaries in India.
SUPRATIM BANDYOPADHYAY: Chairperson of the Pension Fund Regulatory and Development Authority.
Mayapuri, New Delhi: Location of the Dte. of Printing at Government of India Press
Delhi: Location of the Controller of Publications
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
xxxGIDHxxx
सी.जी.-डी.एxलxx.-GअID.-E1x3x0x 42022-235145
CG-DL-E-13042022-235145
ऄसाधारण
EXTRAORDINARY
भाग III—खण्ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 201] नइ ददल्ली, बधु िार, ऄप्रलै 13, 2022/चत्रै 23, 1944
No. 201] NEW DELHI, WEDNESDAY, APRIL 13, 2022/CHAITRA 23, 1944
पिें न जनजध जिजनयामक और जिकास प्राजधकरण
ऄजधसचू ना
नइ ददल्ली, 13 ऄप्रैल, 2022
पिें न जनजध जिजनयामक और जिकास प्राजधकरण
(कमचम ारी सिे ा) (सिं ोधन) जिजनयम, 2022
स.ं पीएफअरडीए/12/अरिीएल/139/11.—पेंिन जनजध जिजनयामक और जिकास प्राजधकरण ऄजधजनयम, 2013
(2013 की ऄजधजनयम स.ं 23) की धारा 52 की ईपधारा (2) के ईप-खंड (ख) के साथ पठित धारा 11 की ईपधारा (2)
द्वारा प्रदत्त िजियों का प्रयोग करत े हुए, पेंिन जनजध जिजनयामक और जिकास प्राजधकरण एतद ् द्वारा पेंिन जनजध
जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) जिजनयम, 2015 में संिोधन करते हुए जनम्नजलजखत जिजनयम बनाता
ह,ै नामतः –
(1) आन जिजनयमों का नाम पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) (संिोधन) जिजनयम,
2022 ह।ै
(2) ये जिजनयम िासकीय रािपत्र में ईनके प्रकािन की जतजथ से प्रिृत्त होंगे ।
(3) पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) जिजनयम, 2015 म:ें -
I. जिजनयम 6 के ईप-जिजनयम 4 के खंड (ख) के तहत ऄनुसूची में, पंजि 2 के स्ट्तम्भ 2 [जिजभन्न रीजतयों के माध्यम स े
भरे िाने िाले पदों की भती एिं ऄनुपात का ढंग- िीर्मक के तहत] को जनम्नानुसार प्रजतस्ट्थाजपत दकया िाएगा:
(क) पदोन्नजत;
(ख) सरकार, जिजनयामक जनकायों, अरबीअइ, बैंकों, जित्तीय संस्ट्थाओं और िैक्षजणक संस्ट्थाओं से प्रजतजनयुजि;
2668 GI/2022 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
(ग) सीधी भती;
(घ) संजिदा के अधार पर ।
कुल पदों के 2/3 पद अंतठरक ईम्मीदिारों द्वारा तथा 1/3 पद प्रजतजनयुजि/सीधी भती/सजं िदा के अधार पर भरे
िाने ह।ैं
आनम ें से दकसी भी श्रेणी (ऄथातम अंतठरक और प्रजतजनयुजि/सीधी भती/संजिदा) में ऄनुपलब्धता के मामले में पद को
ऄन्य श्रेजणयों से भरा िा सकता ह ैI”
II. जिजनयम 6, के ईप-जिजनयम 4 के खडं (ख) के तहत ऄनुसचू ी में, पंजि 3, स्ट्तम्भ 3 में [सीधी भती के जलए अयु, ऄहतम ा
और ऄनुभि- िीर्मक के तहत] ग्रेड D, E और F के जलए :
(i) “जित्त और लेखा धारा” िब्दों के बाद, ऄहतम ा के तहत जनम्नजलजखत को नामतः िोड़ा िाएगा -
“बीमांदकक (एक्चुठरयल) धारा में ऄजधकाठरयों के जलए, दकसी मान्यता प्राप्त जिश्वजिद्यालय से स्नातक की ईपाजध और
भारतीय बीमांकक संस्ट्थान (अइएअइ ) की सदस्ट्यता (फेलो) ।’’
(ii) “प्राजधकरण हते ु ईपयोगी मानी गइ” िब्दों के बाद, ऄनुभि के तहत जनम्नजलजखत को नामतः िोड़ा िाएगा-
“बीमांदकक (एक्चुठरयल) धारा में ऄजधकाठरयों के जलए, ऄजधकारी िगम में न्यूनतम 11/14/17 िर्ों के पश्च-ऄहतम ा
ऄनुभि म ें स ेपांच िर् म भारतीय बीमांकक संस्ट्थान (अइएअइ) के सदस्ट्य के रूप में ।”
सुप्रजतम बंदोपाध्याय, ऄध्यक्ष
[जिज्ञापन III/4/ऄसा./28/2022-23]
पादलखे :
1. मूल जिजनयम, पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) जिजनयम, 2015, भारत के
रािपत्र में 14 मइ 2015 को ऄजधसूचना सं.पीएफअरडीए/12/अरिीएल/139/11 के माध्यम से प्रकाजित दकय े
गए थे ।
2. पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) जिजनयम (प्रथम संिोधन), 2018, भारत के
रािपत्र म ें 31 ऄक्टूबर, 2018 को ऄजधसूचना सं.पीएफअरडीए/12/अरिीएल/139/11 के माध्यम से प्रकाजित
दकये गए थे ।
3. पेंिन जनजध जिजनयामक तथा जिकास प्राजधकरण (कममचारी सेिा) जिजनयम (संिोधन), 2020, भारत के रािपत्र
में 28 ऄप्रलै , 2020 को ऄजधसूचना सं.पीएफअरडीए/12/अरिीएल/139/11 के माध्यम से प्रकाजित दकय े
गए थे ।
4. पेंिन जनजध जिजनयामक तथा जिकास प्राजधकरण (कममचारी सेिा) जिजनयम (संिोधन), 2021, भारत के रािपत्र
में 24 माच,म 2021 को ऄजधसचू ना सं.पीएफअरडीए/12/अरिीएल/139/11 के माध्यम से प्रकाजित दकये गए थे।
5. पेंिन जनजध जिजनयामक तथा जिकास प्राजधकरण (कममचारी सेिा) जिजनयम ( जद्वतीय संिोधन), 2021, भारत के
रािपत्र में 1 िुलाइ, 2021 को ऄजधसूचना सं.पीएफअरडीए/12/अरिीएल/139/11 के माध्यम से प्रकाजित
दकये गए थे ।[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 3
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 13 April, 2022
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
(EMPLOYEES’ SERVICE) (AMENDMENT) REGULATIONS, 2022
No. PFRDA/12/RGL/139/11.– In exercise of the powers conferred by sub – section (2) of section
11 read with sub – clause (b) of sub – section (2) of section 52 of the Pension Fund Regulatory and
Development Authority Act, 2013 (Act no. 23 of 2013), the Pension Fund Regulatory and Development
Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development
Authority (Employees’ Service) Regulations, 2015, namely: -
1. These regulations maybe called the Pension Fund Regulatory and Development Authority
(Employees’ Service) (Amendment) Regulations, 2022.
2. These regulations shall come into force on the date of their publication in the Official Gazette.
3. In the Pension Fund Regulatory and Development Authority (Employees’ Service) Regulations,
2015: -
I. In the schedule under clause (b) of sub-regulation 4 of Regulation 6, column 2 of row 2 [under heading-
Mode of Recruitment & proportion of posts to be filled up through different modes], shall be substituted as
follows:
“(a) Promotion;
(b) Deputation from Govt., Regulatory Bodies, RBI, Banks, Financial Institutions & Academic institutions;
(c) Direct Recruitment;
(d) On contract basis.
2/3rd of the total posts to be filled from internal candidates and 1/3rd posts to be filled by deputation/direct
recruitment/ contract.
In case of non-availability in any category i.e. internal and deputation/direct recruitment/ contract, the post
may be filled from other categories.”
II. In the schedule under clause (b) of sub-regulation 4 of Regulation 6, in column 3, row 3 [under heading-
Age, Qualification & Experience for Direct recruits] for Grade D, E & F: –
(i) under Qualification, after the words “Finance & Accounts Stream”, the following shall be
added, namely: –
“Graduation from a recognized university and Fellow of the Institute of Actuaries of India (IAI) for
officers in the Actuarial Stream.”
(ii) under Experience, after the words “considered useful to the Authority”, the following shall be
added, namely: –
“and out of the minimum 11/ 14/ 17 years of post-qualification experience in officer cadre, five years as
Fellow of the Institute of Actuaries of India (IAI) for officers in the Actuarial Stream.”
SUPRATIM BANDYOPADHYAY, Chairperson
[ADVT.-III/4/Exty./28/2022-23]
Footnote :
1. The Principal Regulations, The Pension Fund Regulatory and Development Authority (Employees’
Service) Regulations, 2015 were published in the Gazette of India on 14th May, 2015 vide Notification No.
PFRDA/12/RGL/139/11.
2. The Pension Fund Regulatory and Development Authority (Employees’ Service) (First Amendment)
Regulations, 2018 were published in the Gazette of India on 31st October, 2018 vide Notification No.
PFRDA/12/RGL/139/11.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
3. The Pension Fund Regulatory and Development Authority (Employees’ Service) (Amendment)
Regulations, 2020 were published in the Gazette of India on 28th April, 2020 vide Notification No.
PFRDA/ 12/RGL/139/11.
4. The Pension Fund Regulatory and Development Authority (Employees’ Service) (Amendment)
Regulations, 2021 were published in the Gazette of India on 24th March 2021 vide Notification No.
PFRDA/12/RGL/139/11.
5. The Pension Fund Regulatory and Development Authority (Employees’ Service) (Second Amendment)
Regulations, 2021 were published in the Gazette of India on 1st July 2021 vide Notification No.
PFRDA/12/RGL/139/11.
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.