Executive Summary:
This document contains the Pension Fund Regulatory and Development Authority Retirement Adviser Second Amendment Regulations, 2017. It amends the 2016 regulations and comes into force on the date of its publication in the Official Gazette (June 1, 2017). It addresses service charges for Retirement Advisers.
Key Points / Main Content:
* **General**
* These regulations are called the Pension Fund Regulatory and Development Authority Retirement Adviser Second Amendment Regulations, 2017.
* These regulations come into force on the date of their publication in the Official Gazette.
* **Amendments to the 2016 Regulations**
* In subregulation 3 of Regulation 15, the following is added after the last line ending with "or in equivalent currency":
* Retirement Advisors can collect service charges not exceeding one US dollar (or equivalent currency) per transaction for subsequent services under the National Pension System provided outside India, after the opening of an individual's pension account.
Impact Analysis:
* **Pension Fund Regulatory and Development Authority:**
* Impact: Responsible for enforcing the amended regulations and overseeing their implementation.
* Action Required: Ensure compliance with the new regulations and update internal processes accordingly.
* **Retirement Advisers:**
* Impact: Can now collect service charges for specific services provided to subscribers outside of India, up to a limit of one US dollar per transaction.
* Action Required: Understand and comply with the new regulations regarding service charges, and implement appropriate billing systems.
* **National Pension System Subscribers (Specifically those residing outside of India):**
* Impact: May be subject to service charges for specific services provided by Retirement Advisers.
* Action Required: Be aware of the potential service charges for transactions and services received from Retirement Advisers outside of India.
Key Entities Referenced
Pension Fund Regulatory and Development Authority: A regulatory body in India that oversees and regulates pension funds.
Pension Fund Regulatory and Development Authority Act, 2013: The Act of the Indian Parliament that established the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority Retirement Adviser Regulations 2016: Regulations pertaining to retirement advisors as defined and governed by the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority Retirement Adviser Second Amendment Regulations, 2017: An amendment to the 2016 regulations concerning retirement advisors, issued by the Pension Fund Regulatory and Development Authority.
National Pension System: A pension scheme launched by the Indian government.
New Delhi: The location of the Pension Fund Regulatory and Development Authority notification; capital of India.
Hemant G. Contractor: Chairperson of the Pension Fund Regulatory and Development Authority.
Gazette of India: Official journal of the government of India, publishing notifications and regulations.
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अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:7408)द(cid:7016)ली, 26 मई, 2017
पपपपशश(cid:7286)(cid:7286)शश(cid:7286)(cid:7286) नननन ििििननननििििधधधध ििििववववििििननननययययााााममममकककक औऔऔऔरररर ििििववववककककाााासससस (cid:7079)(cid:7079)(cid:7079)(cid:7079)ििििधधधधककककररररणणणण ((((ससससववेेववेे ााााििििननननववववििृृििृृ(cid:7275)(cid:7275)(cid:7275)(cid:7275) ससससललललााााहहहहककककाााारररर)))) ((((ददददससससूूूू रररराााा ससससशशंंशशंं ोोोोधधधधनननन)))) ििििववववििििननननययययमममम 2222000011117777
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23), क(cid:7409) धारा 52 क(cid:7409) उपधारा (1) के साथ पठनीय उपधारा (2) के खंड (ब.) और धारा 14 क(cid:7409) उपधारा (2) के खंड (घ.) (cid:7367)ारा (cid:7079)द(cid:7004)(cid:7275)
शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण एत(cid:7375)ारा प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण
(सेवािनवृि(cid:7275) सलाहकार) िविनयम 2016 म(cid:7286) संशोधन करते (cid:7263)ए िन(cid:7388) िविनयम बनाता ह ैनामत:—
1(cid:32)
इन िविनयम(cid:7298) का नाम प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (सेवािनवृि(cid:7275) सलाहकार) (दसू रा संशोधन) िविनयम,
2017 है ।
2(cid:32)
यह आिधका(cid:7407)रक राजप(cid:7074) म(cid:7286) उनक(cid:7409) (cid:7079)काशन क(cid:7409) ितिथ को (cid:7079)वृ(cid:7275) ह(cid:7298)गे ।
3(cid:32)
प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (सेवािनवृि(cid:7275) सलाहकार) िविनयम 2016 म(cid:7286) :
(I) िविनयमन 15 के उप-िविनयमन (3) म,(cid:7286) िन(cid:7388)िलिखत पिं (cid:7334)य(cid:7298) को "या समतु(cid:7016)य मु(cid:7076)ा” श(cid:7011)द(cid:7298) के साथ समा(cid:7385) होने वाली अिं तम पंि(cid:7334) के
बाद जोड़ा जाएगा ।
"सेवािनवृि(cid:7275) सलाहकार, रा(cid:7398)ीय पश(cid:7286) न (cid:7079)णाली के तहत अिभदाता(cid:7312) के (cid:7390)ि(cid:7334)गत प(cid:7286)शन खाता खोलने के बाद, भारत रा(cid:6996)य के (cid:6979)े(cid:7074) के बाहर
कोई अ(cid:7008)य सेवा (cid:7079)दान करता ह ैतो वह अिधकतम एक यूएस डॉलर या समतु(cid:7016)य मु(cid:7076)ा के समतु(cid:7016)य सेवा श(cid:7016)ु क लेने का हकदार होगा|
हमे ंत जी. कां(cid:7069)े(cid:6989)टर, अ(cid:7007)य(cid:6979)
[िव(cid:6980)ापन-III/4/असा./92/17]
3495 GI/2017 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
पपपपाााादददद (cid:7407)(cid:7407)(cid:7407)(cid:7407)टटटट(cid:7009)(cid:7009)(cid:7009)(cid:7009)पपपपणणणणीीीी
1.(cid:32) मूल िविनयम, प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (सेवािनवृि(cid:7275) सलाहकार) िविनयम, 2016 को अिधसूचना
सं(cid:6990)या पीएआरडीए/12/आरजीएल/139/1 के मा(cid:7007)यम से भारत के राजप(cid:7074), भाग III खंड 4, म(cid:7286), 04 जून 2013 को
(cid:7079)कािशत (cid:7408)कया गया।
2.(cid:32) प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)िधकरण (सेवािनवृि(cid:7275) सलाहकार) ((cid:7079)थम संशोधन) िविनयम 2017 को अिधसूचना
सं(cid:6990)या पीएफआरडीए/12/आरजीएल/139/10 के मा(cid:7007)यम से भारत के राजप(cid:7074), भाग III खंड 4, म(cid:7286), 28 अ(cid:7079)ैल 2017 को
(cid:7079)कािशत (cid:7408)कया गया।
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 26th May, 2017
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (RETIREMENT
ADVISER) (SECOND AMENDMENT) REGULATIONS, 2017
No. PFRDA/12/RGL/139/10.─In exercise of the powers conferred by sub-section (1) of section 52
read with clause (w) of sub-section (2) thereof and clause (d) of sub-section 2 of Section 14 of the Pension
Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Pension Fund Regulatory and
Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and
Development Authority (Retirement Adviser) Regulations 2016 namely:
1.(cid:32) These regulations may be called the Pension Fund Regulatory and Development Authority
(Retirement Adviser) (Second Amendment) Regulations, 2017.
2.(cid:32) They shall come into force on the date of their publication in the Official Gazette.
3.(cid:32) In the Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations 2016:-
(I) In sub-regulation (3) of Regulation 15, the following lines shall be added after the last line
ending with the words “ or in equivalent currency”.
“The Retirement Adviser shall also be entitled to collect from the subscriber, service charges not
exceeding one US $ per transaction or in equivalent currency, for any subsequent services under
National Pension System, provided to such subscriber outside the territory of India, post the opening
of his individual pension account”
HEMANT G. CONTRACTOR, Chairperson
[ADVT.-III/4/Exty./ 92/17]
Footnote:
1.(cid:32) The principal regulations, Pension Fund Regulatory and Development Authority (Retirement Adviser)
Regulations, 2016 was published in the Gazette of India, Part III Section 4 on June 13, 2016 vide
notification No. PFRDA/12/RGL/139/1.
2. The Pension Fund Regulatory and Development Authority (Retirement Adviser) (First Amendment)
Regulations, 2017, was published in the Gazette of India, Part III Section 4 on April 28, 2017 vide
notification No. PFRDA/12/RGL/139/10.
(cid:32)
(cid:32)
(cid:32)
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.