Date: 2026-03-27Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by subsection (1) read with clauses (e), (l), (n), (o), (p) and (w) of sub section (2) of section 52 of the Pension Fund Regulatory and Development Authority Act,
**Executive Summary**
The Pension Fund Regulatory and Development Authority (PFRDA) has notified the (Point of Presence) (Amendment) Regulations, 2026, to amend the principal regulations of 2018. Effective from their publication date of March 27, 2026, these amendments redefine "pension agents," clarify audit obligations, and establish procedures for inspection and audit fee payments.
**Key Points / Main Content**
**Definition and Scope of Pension Agents**
* A "pension agent" is defined as any person engaged by a Point of Presence (PoP) to facilitate the distribution of pension schemes.
* Eligible entities include business correspondents regulated by the RBI, insurance agents registered with IRDAI, and mutual fund distributors registered with AMFI.
* The Authority reserves the right to permit any other person to act as a pension agent.
**Operational and Audit Requirements**
* PoPs are required to conduct periodic audits of their processes, operations, and accounts related to pension schemes.
* Audits must include activities assigned to pension agents and be conducted according to guidelines, circulars, or instructions issued by the Authority.
**Fee Payment Procedures**
* The procedure and manner for the payment of inspection or audit fees by a PoP shall be determined by the Authority.
* These payments must be made in accordance with specific directions or instructions issued in this regard.
**Relationship Framework**
* The engagement between a PoP and a pension agent is strictly characterized as a principal-agent relationship.
* A pension agent is permitted to associate with one or more PoPs through formal agreements for the distribution of pension schemes.
**Impact Analysis**
**Points of Presence (PoP)**
**Impact**
PoPs are now explicitly responsible for the periodic auditing of all pension-related activities, including those outsourced to agents. They are also liable for the payment of inspection and audit fees under new procedural frameworks.
**Action Required**
PoPs must establish formal principal-agent agreements with distributors and ensure their internal audit systems comply with PFRDA guidelines. They must also follow the prescribed procedures for fee payments to the Authority.
**Pension Agents (Business Correspondents, Insurance Agents, Mutual Fund Distributors)**
**Impact**
The amendment broadens the eligibility criteria for becoming a pension agent and allows agents to enter into agreements with multiple PoPs simultaneously.
**Action Required**
Agents must ensure their operations and accounts are transparent for periodic audits by the PoP and operate within the scope of the principal-agent relationship defined by the regulations.
**Pension Fund Regulatory and Development Authority (PFRDA)**
**Impact**
The Authority gains a more structured regulatory framework to oversee the distribution network and ensure financial accountability through standardized audit and fee collection procedures.
**Action Required**
The Authority must issue specific guidelines, circulars, and instructions detailing the manner of audits and the procedure for fee payments.
Key Entities Referenced
Pension Fund Regulatory and Development Authority (Point of Presence) (Amendment) Regulations, 2026: The primary policy document introduced to amend the existing framework governing Point of Presence entities and their pension agents.
Pension Fund Regulatory and Development Authority Act, 2013: The parent legislation that grants the regulatory authority the power to frame and amend rules for the pension sector in India.
Pension Fund Regulatory and Development Authority (PFRDA): The statutory regulatory body responsible for the supervision and regulation of the pension industry and the issuance of these amendments.
Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018: The principal regulations being modified, which define the roles, responsibilities, and operational requirements for pension distribution intermediaries.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-30032026-271400
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CG-DL-E-30032026-271400
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 224] नई दिल्ली, िुक्रिार, माच च27, 2026/चत्रै 6, 1948 ष 22, 1947
No. 224] NEW DELHI, FRIDAY, MARCH 27, 2026/CHAITRA 6, 1948 s 1947
पिें न जनजध जिजनयामक और जिकास प्राजधकरण
अजधसचू ना
नई दिल्ली, 24 माच,च 2026
पिें न जनजध जिजनयामक और जिकास प्राजधकरण (उपजस्ट्िजत अजस्ट्तत्ि) (सिं ोधन) जिजनयम, 2026
स.ं पीएफआरडीए/16/05/112/0018/2020-आरईिी-पीओपी.— पिें न जनजध जिजनयामक और जिकास
प्राजधकरण अजधजनयम, 2013 (2013 का 23) की धारा 52 की उप-धारा (1) के साि पठित उप-धारा (2) के खंड (ङ),
(ि), (ढ), (ण), (त) और (ब) द्वारा प्रिान की गई िजियों का प्रयोग करत े हुए पेंिन जनजध जिजनयामक और जिकास
प्राजधकरण एतद्द्वारा, पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (उपजस्ट्िजत अजस्ट्तत्ि) जिजनयम, 2018 म ें संिोधन
करने हते ु जनम्नजलजखत जिजनयम बनाए िाते ह,ैं नामतः : -
1. इन जिजनयमों को पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (उपजस्ट्िजत अजस्ट्तत्ि) (संिोधन) जिजनयम,
2026 कहा िाएगा ।
2. य े जिजनयम रािपत्र म ेंउनके प्रकािन की तारीख स ेप्रिृत्त होंग े ।
3. पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (उपजस्ट्िजत अजस्ट्तत्ि) जिजनयम, 2018, समय-समय पर
यिासंिोजधत (इसके पश्चात “मलू जिजनयम” के रूप म ेंसंिर्भचत), म ेंजनम्नजलजखत संिोधन दकए िाते ह ैं।
2261 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
I. मूल जिजनयमों के जिजनयम 2 के उप-जिजनयम (1) के खडं (ञ) के स्ट्िान पर जनम्नजलजखत को प्रजतस्ट्िाजपत
दकया िाएगा :
“पेंिन अजभकताच (पेंिन एिेंट)” का अि च ह ै - अजधजनयम के अतं गचत िाजमल पेंिन योिनाओं के जितरण
हते ु उपजस्ट्िजत अजस्ट्तत्ि द्वारा जनयुि कोई भी व्यजि, जिसम,ें जनम्नजलजखत िाजमल होंगे :
(i) भारतीय ठरज़िच बैंक द्वारा जनधाचठरत जिजनयामक ढााँच े के अतं गचत बैंकों द्वारा संलग्न दकए गए
जबज़नेस कारेस्ट्पोंडेंट या कॉरपोरेट जबज़नेस कारेस्ट्पोंडेंट;
(ii) भारतीय बीमा जिजनयामक और जिकास प्राजधकरण के साि पंिीकृत बीमा कंपजनयों द्वारा
जनयुि बीमा अजभकता;च
(iii) असोजसएिन ऑफ म्यूचुअल फंड्स इन इंजडया (एएमफआइ) के साि पंिीकृत म्यूचअु ल फंड
जितरक (जडस्ट्रीब्यूटर); या
(iv) कोई अन्य व्यजि जिसे प्राजधकरण द्वारा अनुमजत प्रिान की गई हो;”
II. मूल जिजनयमों के जिजनयम 17 के उप-जिजनयम (2) के खडं (क) को जनम्नानुसार प्रजतस्ट्िाजपत दकया
िाएगा :
“(क) पेंिन अजभकताचओं (पिें न एिेंट्स) को सौंपे गए कायों सजहत पेंिन योिनाओं के संबधं म ें उसकी
प्रदक्रयाओं, पठरचालन, और बही-खातों (अकाउंट्स) की आिजधक लेखापरीक्षा (ऑजडट) उस संबंध में
िारी दििाजनिेिों, पठरपत्रों, जनिेिों या अनुिेिों के माध्यम स े प्राजधकरण द्वारा जनधाचठरत तरीके स े
करिाएगा; और”
III. मूल जिजनयमों के जिजनयम 27 को जनम्नानुसार प्रजतस्ट्िाजपत दकया िाएगा :
“27. उपजस्ट्िजत अजस्ट्तत्ि द्वारा जनरीक्षण या लखे ापरीक्षा (ऑजडट) िल्ु क का भगु तान.– प्राजधकरण
उपजस्ट्िजत अजस्ट्तत्ि द्वारा जनरीक्षण अििा लेखापरीक्षा (ऑजडट) िल्ु क के भुगतान की पद्धजत एिं प्रदक्रया
को उस संिभच में िारी दकए गए दििाजनििे ों, पठरपत्रों, जनिेिों या अनुिेिों के माध्यम से जनधाचठरत
करेगा ।”
IV. मूल जिजनयमों की अनुसूची-IV के खंड (1) के उप-खंड (ख) को जनम्नानुसार प्रजतस्ट्िाजपत दकया िाएगा :
“यह अनुबंध प्रमुख (प्प्रंजसपल)-अजभकता च संबंध की प्रकृजत का होगा । पेंिन अजभकता च (पेंिन एिेंट) पेंिन
योिना के संजितरण हते ु, करार (रों) के माध्यम स े एक अििा अजधक उपजस्ट्िजत अजस्ट्तत्ि के साि संबद्ध
हो सकता ह,ै जिसके जलए ऐसे उपजस्ट्िजत अजस्ट्तत्ि को पंिीकरण प्रिान दकया गया हो ।”
जििसुब्रमाजणयन रमण, अध्यक्ष
[जिज्ञापन-III/4/असा./800/2025-26]
ठटप्पणी : पिें न जनजध जिजनयामक और जिकास प्राजधकरण (उपजस्ट्िजत अजस्ट्तत्ि) जिजनयम, 2018 को
भारत के रािपत्र, असाधारण, भाग III, खंड 4, संख्या 237 म ें अजधसचू ना संख्या
पीएफआरडीए/12/आरिीएल/139/3 के माध्यम स े दिनांक 25 िून, 2018 को प्रकाजित दकया गया िा,
और जिसके बाि इसमें जनम्नजलजखत संिोधन दकए गए :
i. भारत के रािपत्र, असाधारण, भाग III, खंड 4, संख्या 238 म ें दिनांक 14 िून, 2021 को
अजधसूचना स.ं पीएफआरडीए/12/आरिीएल/139/3 के माध्यम स े प्रकाजित पेंिन जनजध
जिजनयामक और जिकास प्राजधकरण (उपजस्ट्िजत अजस्ट्तत्ि) (सिं ोधन) जिजनयम, 2021 ।
ii. भारत के रािपत्र, असाधारण, भाग III, खडं 4, संख्या 29 म ें दिनांक 10 िनिरी, 2024 को
अजधसूचना स.ं पीएफआरडीए/16/112/0018/2020-आरईिी-पीओपी के माध्यम स े प्रकाजित
पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (उपजस्ट्िजत अजस्ट्तत्ि) (संिोधन) जिजनयम,
2023 ।[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 24th March, 2026
Pension Fund Regulatory And Development Authority (Point Of Presence) (Amendment) Regulations, 2026
No. PFRDA/16/05/112/0018/2020-REG-POP— In exercise of the powers conferred by subsection (1) read
with clauses (e), (l), (n), (o), (p) and (w) of sub-section (2) of section 52 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 (Point of
Presence) Regulations, 2018, namely:-
1. These regulations may be called the Pension Fund Regulatory and Development Authority (Point of
Presence) (Amendment) Regulations, 2026.
2. These shall come into force on the date of their publication in the official gazette.
3. In the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018, as
amended from time to time (hereinafter referred to as ‘the principal regulations’), the following amendments
are made.
I. Clause (j) of sub-regulation (1) of regulation 2 of the principal regulations shall be substituted as
follows:
“ pension agent” means any person engaged under an agreement by a point of presence for facilitating
the distribution of pension schemes covered under the Act and be any of the following:
(i) business correspondents or corporate business correspondents engaged by the banks under the
regulatory framework of the Reserve Bank of India;
(ii) insurance agents engaged by insurance companies registered with the Insurance Regulatory and
Development Authority of India;
(iii) mutual fund distributors registered with Association of Mutual Funds in India (AMFI); or
(iv) any other person permitted by the Authority.”
II. Clause (a) of sub-regulation (2) of regulation 17 of the principal regulations shall be substituted as
follows:
“(a) get the processes, operations, and accounts in respect of pension schemes, including activities
assigned to pension agents, audited periodically and in such manner as laid down by the Authority
through guidelines, circulars, directions or instructions, issued in that behalf; and”
III. Regulation 27 of the principal regulations shall be substituted as follows:
“27. Payment of inspection or audit fee by the point of presence. – The Authority shall provide the
manner and procedure of payment of inspection or audit fees by the point of presence
through guidelines, circulars, directions or instructions issued in that behalf.
IV. Sub Clause (b) of Clause (1) of Schedule IV of the principal regulations shall be substituted as follows:
“the engagement shall be in the nature of a principal-agent relationship. A pension agent may be
associated through agreement(s) with one or more point of presence, for distribution of the pension
scheme for which such point of presence is granted registration;”
SIVASUBRAMANIAN RAMANN, Chairperson
[ADVT.-III/4/Exty./800/2025-26]4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
Note: The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 were
published vide Notification No. PFRDA/12/RGL/139/3, on the 25th June, 2018, in the Gazette of India,
Extraordinary, Part III, Section 4, No. 237, and subsequently amended by:
i. Pension Fund Regulatory and Development Authority (Point of Presence) (Amendment) Regulations, 2021
published vide Notification No. PFRDA/12/RGL/139/3, on the 14th June, 2021 in the Gazette of India,
Extraordinary, Part III, Section 4, No. 238.
ii. Pension Fund Regulatory and Development Authority (Point of Presence) (Amendment) Regulations, 2023
published vide Notification No. PFRDA/16/05/112/0018/2020-REG-POP, on the 10th January, 2024 in the
Gazette of India, Extraordinary, Part III, Section 4, No. 29.
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.