**Executive Summary**
This document is a notification from the Pension Fund Regulatory and Development Authority (PFRDA) regarding the appointment of three trustees to the Board of Trustees of the National Pension System Trust (NPS Trust). The deadline for application submission is December 15, 2025, via email. The PFRDA has the sole discretion in the selection of the candidates.
**Key Points / Main Content**
* **Purpose and Context**
* PFRDA regulates the National Pension System and Atal Pension Yojana.
* The NPS Trust manages the funds of subscribers under NPS as an intermediary.
* As of September 30, 2025, the Trust manages approximately ₹15.80 lakh crore with 8.98 crore subscribers.
* The Trust's operations are governed by the PFRDA Act 2013, related regulations, the Indian Trust Act 1882, and the Trust Deed dated February 27, 2008.
* **Appointment of Trustees**
* PFRDA intends to appoint 03 Trustees to the NPS Trust Board.
* Maximum 11 Trustees can be appointed as per regulations.
* Applicants must be citizens of India and meet eligibility criteria under Regulation 5 and guidelines issued on January 12, 2018.
* **Eligibility Criteria**
* Applicants should have sufficient education in law, finance, economics, accountancy, social welfare, or administration.
* They should possess proven management skills, experience, capacity, integrity, and reputation.
* Experience at senior levels in government/international organizations, academia, regulatory bodies, or similar roles is required.
* **Terms and Conditions**
* The initial term is three years from the appointment date, with a possible two-year extension.
* The maximum age limit for trustees is 70 years.
* Trustees receive sitting fees and reimbursement for travel and accommodation expenses.
* **Application Process**
* Interested applicants must submit their application in the provided format via email to dept-regfm@pfrda.org.in by December 15, 2025.
* The application should include details of their date of birth, experience, the nature of the organization they worked in, their position, and responsibilities.
* The Authority will shortlist candidates, but mere application or shortlisting does not guarantee appointment.
**Impact Analysis**
**Stakeholder: Potential Trustee Applicants**
* **Impact:** Individuals meeting the eligibility criteria have the opportunity to serve on the Board of Trustees, influencing the management of pension funds.
* **Action Required:** Interested and eligible candidates must apply by submitting the required information in the specified format via email by December 15, 2025.
**Stakeholder: PFRDA**
* **Impact:** PFRDA will be responsible for appointing qualified individuals to oversee the NPS Trust, ensuring effective governance and management of pension funds.
* **Action Required:** PFRDA must review applications, conduct the selection process as per the guidelines, and appoint suitable trustees to the NPS Trust Board.
**Stakeholder: NPS Subscribers**
* **Impact:** The appointment of qualified trustees aims to ensure the secure and effective management of their pension funds, contributing to their long-term financial security.
* **Action Required:** Subscribers do not have any action items in this document.
Key Entities Referenced
PFRDA Act, 2013: The Pension Fund Regulatory and Development Authority Act, 2013, which established PFRDA and governs the NPS.
National Pension System Trust (NPS Trust): The trust established by PFRDA as the legal owner of the funds of the subscribers under NPS.
Pension Fund Regulatory and Development Authority (PFRDA): The regulator responsible for promoting old-age income security by establishing, developing, and regulating pension funds.
New Delhi: The city where NPS Trust has its office
प(cid:581)शन (cid:467)न(cid:876)ध (cid:874)व(cid:467)नयामक और (cid:874)वकास (cid:292)ा(cid:876)धकरण
व(cid:227)ड (cid:91) (cid:282)ेड सट(cid:581) र, नौरोजी नगर, नई (cid:465)द(cid:227)ल(cid:547)
सूचना सं. PFRDA/02/16/2/0001/2017-RnS-NPST-Part(2) (cid:465)दनांक: 14-11-2025
एनपीएस (cid:219)यास के बोड (cid:91)म(cid:581) (cid:219)यासी क(cid:551) (cid:467)नयुि(cid:200)त हेतु सूचना
पीएफआरडीए अ(cid:876)ध(cid:467)नयम, 2013 क(cid:551) धारा 3 के तहत (cid:232)था(cid:874)पत प(cid:581)शन फंड (cid:874)व(cid:467)नयामक और (cid:874)वकास
(cid:292)ा(cid:876)धकरण (पीएफआरडीए) वतम(cid:91) ान म(cid:581) रा(cid:231)(cid:282)(cid:547)य प(cid:581)शन (cid:292)णाल(cid:547) और अटल प(cid:581)शन योजना को (cid:467)नयं(cid:466)(cid:287)त
करता है। पीएफआरडीए को प(cid:581)शन फंड क(cid:551) (cid:232)थापना, (cid:874)वकास और (cid:874)व(cid:467)नयमन करके व(cid:622)ृ धाव(cid:232)था आय
सुर(cid:162)ा को बढ़ावा देन,े प(cid:581)शन फंड क(cid:551) योजनाओ ं के (cid:871)लए (cid:274)ाहक(cid:585) के (cid:465)हत(cid:585) क(cid:551) र(cid:162)ा करन े और उससे जुड़ े
या (cid:292)ासं(cid:876)गक मामल(cid:585) के (cid:871)लए बा(cid:218)य (cid:873)कया गया है।
(cid:292)ा(cid:876)धकरण ने (cid:229)यव(cid:232)थापक के (cid:510)प म(cid:581) अपनी शि(cid:200)तय(cid:585) के तहत रा(cid:231)(cid:282)(cid:547)य प(cid:581)शन (cid:292)णाल(cid:547) (cid:219)यास (एनपीएस
(cid:219)यास) क(cid:551) (cid:232)थापना क(cid:551) है, और जो (cid:219)या(cid:871)सय(cid:585) के बोड (cid:91) के (cid:510)प म(cid:581) उ(cid:200)त (cid:219)यास के नाम पर (cid:292)ब(cid:219)धन के
तहत एनपीएस के अधीन अ(cid:871)भदाताओ ंक(cid:551) (cid:467)न(cid:876)धय(cid:585) का (cid:232)वामी है I एनपीएस (cid:219)यास एनपीएस संरचना
के अधीन एक म(cid:218)यवत(cid:568) इकाई है |
इस (cid:219)यास क(cid:551) (cid:292)कृ(cid:467)त (cid:467)नजी है और यह अपन े कत(cid:91)(cid:229)य(cid:585) और िज(cid:224)मेदा(cid:464)रय(cid:585) का (cid:467)नवह(cid:91) न के (cid:871)लए
पीएफआरडीए अ(cid:876)ध(cid:467)नयम, 2013, पीएफआरडीए (एनपीएस (cid:282)(cid:232)ट) (cid:874)व(cid:467)नयम 2015, भारतीय (cid:282)(cid:232)ट
अ(cid:876)ध(cid:467)नयम, 1882 और (cid:282)(cid:232)ट डीड (cid:465)दनांक 27 फरवर(cid:547) 2008 के (cid:292)ावधान(cid:585) (cid:622)वारा शा(cid:871)सत होता है।
(cid:874)व(cid:467)नयम(cid:585) के अनुसार इसम(cid:581) अ(cid:876)धकतम 11 (cid:219)या(cid:871)सय(cid:585) क(cid:551) (cid:467)नयुि(cid:200)त का (cid:292)ावधान है, जो कानून या (cid:874)व(cid:419)
या अथश(cid:91) ा(cid:232)(cid:287) या अकाउंट(cid:581)सी या सामािजक क(cid:227)याण या (cid:292)शासन म(cid:581) पया(cid:91)(cid:220)त (cid:871)श(cid:162)ा के साथ (cid:871)स(cid:622)ध (cid:292)बंधन
कौशल, अनुभव, (cid:162)मता, अखडं ता और (cid:292)(cid:467)त(cid:231)ठा के साथ उपयु(cid:200)त (cid:510)प से यो(cid:202)य ह(cid:585)।
30 (cid:871)सत(cid:224)बर 2025 तक (cid:219)यास के नाम पर (cid:292)बंधनाधीन संप(cid:874)(cid:419), 8.98 करोड़ (लगभग) (cid:274)ाहक(cid:585) आधार
के साथ 15.80 लाख करोड़ (cid:509)पय े (लगभग) है। वतम(cid:91) ान म(cid:581) (cid:219)यास का केवल एक ह(cid:547) काया(cid:91)लय है, जो (cid:873)क
नई (cid:465)द(cid:227)ल(cid:547) म(cid:581) है।
(cid:292)ा(cid:876)धकरण वतम(cid:91) ान म(cid:581) एनपीएस (cid:219)यास के (cid:219)यासी बोड (cid:91)म(cid:581) 03 (cid:219)यासी (cid:467)नयु(cid:200)त करन ेका इ(cid:205)छुक है। इस
पद हेत ु ऐसे आवदे क क(cid:551) आव(cid:230)यकता है जो भारत का नाग(cid:464)रक हो और उपरो(cid:200)त (cid:874)व(cid:467)नयम(cid:585) के
(cid:874)व(cid:467)नयम 5 के तहत (cid:467)नधा(cid:91)(cid:464)रत पा(cid:287)ता शत(cid:607) को परू ा करता हो और साथ ह(cid:547) (cid:292)ा(cid:876)धकरण (cid:622)वारा
12 जनवर(cid:547) 2018 को जार(cid:547) (cid:219)या(cid:871)सय(cid:585) क(cid:551) (cid:467)नयुि(cid:200)त के (cid:871)लए (cid:465)दशा(cid:467)नद(cid:566)श का पालन करता होऔर जो मु(cid:201)यतः (cid:874)व(cid:876)ध या (cid:874)व(cid:419) या अथश(cid:91) ा(cid:232)(cid:287) या लेखाकम(cid:91) या समाज क(cid:227)याण या (cid:292)शासन म(cid:581) समु(cid:876)चत
(cid:510)प से अह(cid:464)रत हो तथा (cid:292)बधं कौशल, अनुभव, (cid:162)मता, स(cid:215)य(cid:467)न(cid:231)ठा और (cid:292)(cid:467)त(cid:231)ठा वाला (cid:229)यि(cid:200)त हो I
आवदे क को सरकार/या अंतररा(cid:231)(cid:282)(cid:547)य संगठन(cid:585) म(cid:581) व(cid:464)र(cid:231)ठ (cid:232)तर के पद(cid:585) पर काम करने का अनुभव
होना चा(cid:465)हए/या व(cid:464)र(cid:231)ठ (cid:871)श(cid:162)ा(cid:874)व(cid:622) होना चा(cid:465)हए या उन संगठन(cid:585) म(cid:581) बोड (cid:91) (cid:232)तर के पद(cid:585) पर काम
करने का अनभु व होना चा(cid:465)हए जहां उ(cid:219)ह(cid:585)ने ऑ(cid:875)डट या (cid:467)नवशे स(cid:871)म(cid:467)तय(cid:585) जसै ी स(cid:871)म(cid:467)तय(cid:585) का
नेत(cid:215)ृ व (cid:873)कया हो या (cid:467)नयामक (cid:467)नकाय(cid:585) या अ(cid:219)य वधै ा(cid:467)नक (cid:467)नकाय म(cid:581) व(cid:464)र(cid:231)ठ पद(cid:585) पर काम
(cid:873)कया हो।
(cid:219)यासी का (cid:292)ारं(cid:871)भक कायक(cid:91) ाल (cid:467)नयुि(cid:200)त क(cid:551) (cid:467)त(cid:876)थ से तीन वष (cid:91) क(cid:551) अव(cid:876)ध के (cid:871)लए होगा, िजसके बाद
कायक(cid:91) ाल म(cid:581) केवल दो वष (cid:91) तक क(cid:551) अव(cid:876)ध के (cid:874)व(cid:232)तार का (cid:292)ावधान होगा |
इसके (cid:871)लए अ(cid:876)धकतम आयु सीमा स(cid:419)र (70) वष (cid:91) है, िजसके बाद (cid:219)यासी का कायक(cid:91) ाल समा(cid:220)त हो
जाएगा। सभी (cid:219)यासी (cid:292)ा(cid:876)धकरण (cid:622)वारा समय समय पर (cid:467)नधा(cid:91)(cid:464)रत, (cid:219)यासी बठै क हेत ु बठै क शु(cid:227)क एव ं
(cid:219)यासी बठै क हेत ुअ(cid:219)य खच(cid:574) जसै े या(cid:287)ा श(cid:227)ु क एव ंया(cid:287)ा के दौरान (cid:292)वास शु(cid:227)क आ(cid:465)द के (cid:871)लए पा(cid:287) ह(cid:583)|
(cid:219)यास म(cid:581) अपनी सेवाए ं (cid:292)दान करन े के इ(cid:205)छुक आवदे क, अपना आवदे न अनुल(cid:202)नक म(cid:581) (cid:465)दए गए (cid:292)ा(cid:510)प
म(cid:581) भेज सकते ह(cid:583) ((cid:232)प(cid:231)ट (cid:510)प से उनक(cid:551) ज(cid:219)म(cid:467)त(cid:876)थ, अनुभव, सगं ठन का (cid:162)े(cid:287)/(cid:292)कृ(cid:467)त िजसम(cid:581) काम
(cid:873)कया, धा(cid:464)रत पद और सभं ाले गए काय (cid:91) का (cid:874)ववरण आ(cid:465)द दशा(cid:91)ते हुए) ईमेल (cid:622)वारा dept-
regfm@pfrda.org.in पर 15 (cid:465)दस(cid:224)बर 2025 तक भेज सकते ह(cid:583)।
एनपीएस और (cid:219)यास क(cid:551) ग(cid:467)त(cid:874)व(cid:876)धय(cid:585) के बारे म(cid:581) अ(cid:876)धक जानकार(cid:547) (cid:292)ा(cid:876)धकरण क(cid:551) वेबसाइट के अलावा
एनपीएस (cid:219)यास क(cid:551) वेबसाइट www.npstrust.org.in पर भी देखी जा सकती है। (cid:292)ा(cid:876)धकरण क(cid:551)
वेबसाइट पर पीएफआरडीए अ(cid:876)ध(cid:467)नयम, 2013 तथा (cid:219)यासी क(cid:551) (cid:467)नयुि(cid:200)त के (cid:871)लए (cid:874)व(cid:467)नयम एवं
(cid:465)दशा(cid:467)नद(cid:566)श भी उपल(cid:222)ध ह(cid:583)।
ऐसे (cid:219)यासी का चयन (cid:292)ा(cid:876)धकरण (cid:622)वारा ग(cid:465)ठत एक स(cid:871)म(cid:467)त (cid:622)वारा (cid:873)कया जाएगा, जसै ा (cid:873)क (cid:465)दशा(cid:467)नद(cid:566)श(cid:585)
म(cid:581) उ(cid:227)लेख (cid:873)कया गया है। इस (cid:292)कार (cid:467)नय(cid:200)ु त (cid:219)यासी, (cid:292)ा(cid:876)धकरण या (cid:219)यास का कमच(cid:91) ार(cid:547) नह(cid:547)ं होगा।
(cid:292)ा(cid:876)धकरण, (cid:292)ा(cid:220)त आवेदन(cid:585) क(cid:551) कुल स(cid:201)ं या के बावजूद, ऐसे नाम(cid:585) को, जसै ा (cid:873)क वह उ(cid:876)चत समझ,े
(cid:467)नयुि(cid:200)त हेत ु आगे क(cid:551) (cid:292)(cid:873)(cid:272)याओं पर (cid:874)वचार करन े के (cid:871)लए शॉट(cid:91)(cid:871)ल(cid:232)ट करन े का अ(cid:876)धकार रखता है ।
(cid:873)कसी इ(cid:205)छुक (cid:229)यि(cid:200)त से केवल आवदे न (cid:292)ा(cid:220)त होने या उसके बाद शॉट(cid:91)(cid:871)ल(cid:232)ट होने मा(cid:287) से (cid:873)कसी भी
(cid:229)यि(cid:200)त को पद पर (cid:467)नय(cid:200)ु त होने का अ(cid:876)धकार (cid:292)ा(cid:220)त नह(cid:547)ं होगा बि(cid:227)क यह (cid:292)ा(cid:876)धकरण के (cid:467)नणय(cid:91) पर (cid:467)नभर(cid:91)
होगा।
म(cid:201)ु य महा(cid:292)ब(cid:219)धक
(cid:874)व(cid:467)नयमन (cid:874)वभाग – (cid:467)न(cid:876)ध (cid:292)बंधन (एनपीएस (cid:219)यास)
*******************************************************************PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
WORLD TRADE CENTER, NAUROJI NAGAR, NEW DELHI
Ref. No. PFRDA/02/16/2/0001/2017-RnS-NPST-Part(2) Dated: 14-11-2025
NOTICE FOR APPOINTMENT OF TRUSTEES ON THE BOARD OF TRUSTEES
OF NPS TRUST
Pension Fund Regulatory and Development Authority (PFRDA) established under
Section 3 of the PFRDA Act, 2013 presently regulates National Pension System
and Atal Pension Yojana. PFRDA is mandated to promote old age income security
by establishing, developing and regulating pension funds, to protect the interest of
the subscribers to the schemes of pensions funds and for matters connected
therewith or incidental thereto.
The Authority in its capacity as Settlor, has established the National Pension
System Trust (NPS Trust) being the Board of Trustees who are the legal owner of
the funds of the subscribers under NPS. NPS Trust is an intermediary under the
NPS architecture. The Trust is in the nature of a private trust and discharge of its
duties and responsibilities, are governed by the provisions of the PFRDA Act, 2013,
PFRDA (NPS Trust) Regulations 2015, the Indian Trust Act, 1882 and the
provisions of the Trust Deed dated 27th Feb 2008. The regulations provide for
appointment of a maximum of 11 Trustees, suitably qualified with sufficient
education in law or finance or economics or accountancy or social welfare or
administration with proven management skill, experience, capacity, integrity and
reputation. The assets under management in the name of the Trust as on 30th Sept
2025 are Rs 15.80 lakh crore (approx.) with 8.98 crore subscribers (approx.) base.
The Trust presently has only one office in New Delhi.
The Authority presently is desirous of appointing 03 Trustees on the Board of
Trustees of NPS Trust. The person applying for the post should be a citizen of
India and satisfying the eligibility conditions as stipulated under Regulation 5 of
the aforementioned regulations as also the Guidelines for Appointment of Trustees
dated 12th Jan 2018 issued by the Authority, preferably having knowledge and
experience in law or finance or economics or accountancy or social welfare oradministration with proven management skill, experience, capacity integrity
and reputation.
The applicant should have worked at senior level positions in the Government/ or
international organizations/ or have been senior academicians or have occupied
Board level posts in organizations wherein they have headed committees like Audit
or investment committees or have held senior positions with regulatory bodies or
other statutory bodies.
The initial term of the Trustee shall be for a period of three years from the date of
appointment, with provision of extension for not more than two years. The
maximum age limit, beyond which a trustee shall cease from office is seventy
years. The Trustees are eligible to receive sitting fees and such other expenses
towards travelling, lodging and boarding etc. as are determined by the Authority
from time to time.
Applicants, who are desirous of contributing their expertise to the NPS Trust, may
kindly send their application in the format placed at Annexure (clearly indicating
their date of birth, experience, sector/nature of organization worked in, details of
position held and work handled etc.), by mail to: dept-regfm@pfrda.org.in by 15th
December 2025 in support of their application.
Further information on NPS and the activities of the NPS Trust, besides the
website of the Authority can also be accessed on the website of the NPS Trust at
www.npstrust.org.in. The PFRDA Act, 2013, the regulations notified thereunder
and the guidelines for appointment of trustee are also available on the website of
the Authority.
The selection of such trustees shall be made by a committee constituted by the
Authority as mentioned in the guidelines. The trustee so appointed shall not be an
employee either of the Authority or the Trust. Notwithstanding the total number of
applications received, the Authority reserves the right to shortlist such names, as
it may deem fit and consider for further processes towards appointment. Mere
receipt of application from any interested person or shortlisting thereafter, shall
not confer any right on any person to be so appointed, which shall be at the sole
discretion of the Authority.
Chief General Manager
Regulation Department -Fund Management (NPS Trust)
*******************************************************************Paste the most
recent
Passport size
National Pension System Trust (NPST)
Photograph
Application for the Post of Trustee
here
To
Chief General Manager
Regulations Dept - NPST
Advt. No.: ____________ Date: ___ / ___ / 2025
1. Personal Details
Full Name (in CAPITAL LETTERS)
Father’s / Mother’s Name
Gender (tick): ☐ Male ☐ Female ☐ Other
Date of Birth (DD/MM/YYYY)
Age (as on date of application) (Years -
Months)
Category (tick): ☐ General ☐ SC ☐ ST ☐
OBC ☐ EWS ☐ PwD
Nationality
Any other personal detail (if applicable)
2. Contact Information
Postal Address (with District, State & Pin
Code)
Email
Telephone (with STD Code)
Mobile
3. Professional Details
Mode of Application (tick): ☐ Direct Recruitment ☐ Nomination ☐ Rotation ☐ Contract
Educational Qualifications (add self-attested copies)
Qualification Discipline / Year of Passing University / Class / Division
Subjects InstituteWork Experience (start with the most recent)
Employer Designation Job Profile / Period (From– Duration (Yrs–
Name & Key To) Mths)
Address Responsibilities
Relevant Experience Areas (tick those applicable):
☐ Pension ☐ Regulation ☐ Accountancy ☐ Law ☐ Social Welfare ☐ Administration ☐ IT ☐
Committee/Board Membership ☐ Others (specify): ________________________
4. Eligibility Declaration
Proven management skill, capacity, ☐ Yes ☐ No
integrity & reputation
Age not exceeding 70 years ☐ Yes ☐ No
Consent for background and reference ☐ Yes ☐ No
checks (including employer/reference
contact)
5. Critical Information
A. Any other information considered relevant by the applicant (e.g., experience with
statutory/regulatory bodies, senior positions in Government/International organisations,
leadership roles, court/tribunal handling etc.):
_________________________________________________________________________________________
B. Conflict of Interest & Independence Declaration (Please disclose any potential or perceived
conflict of interest (including shareholding, employment, consultancy, or directorships) in
any Pension Fund, Annuity Service Provider, CRA, or related financial entity):
_________________________________________________________________________________________
6. Board Membership and any other professional assignments currently undertaken.
_________________________________________________________________________________________
7. Statement on Vision (SoV) and Contribution to the NPS Ecosystem (500 words) attach
separate sheet
_________________________________________________________________________________________8. Governance and Fiduciary Oversight Experience (Describe your experience, if any, in
governance, risk management, or fiduciary oversight — including roles in Board/Committee
memberships, audit/risk committees, or regulatory bodies) 100 words -attach sheet
_________________________________________________________________________________________
9. Ethical Standards and Decision-Making Approach (Briefly describe a situation
(professional or institutional) that demonstrates your adherence to ethical standards,
balanced judgment, and decision-making under challenging circumstances:) 100 words -
attach sheet
_________________________________________________________________________________________
10. Self-Attestation & Undertaking
I, ________________________________________, hereby declare that all information provided above is
true and correct to the best of my knowledge and belief. I understand that any false or
misleading information or suppression of facts will render my candidature/appointment
liable for cancellation or termination. I also confirm that I fulfill the eligibility conditions as
prescribed.
Place: ____________________
Date: ____________________
Signature of Applicant: ____________________
Attachments Checklist (Self-attested copies):
☐ Proof of Date of Birth
☐ Educational Qualification Certificates
☐ Experience Certificates
☐ Statement of Vision
☐ Governance and Fiduciary Oversight Experience
☐ Ethical Standards and Decision-Making Approach
☐ Any other supporting documents