Date: 2017-08-02Category: Public Private Partnership in IndiaState: Union GovernmentCountry: India
Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members)(Amendment) Rules, 2017
**Executive Summary**
This document, published in The Gazette of India on August 2, 2017, contains an amendment to the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014. The amendment concerns the constitution of the selection committee for appointing the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority. These rules are effective from the date of their publication in the Official Gazette.
**Key Points / Main Content**
* **Amendment Title:** Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Amendment Rules, 2017.
* **Effective Date:** August 2, 2017 (Date of publication in the Official Gazette).
* **Amendment Details:** Rule 3, sub-rule (1) of the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014, is substituted.
* **Selection Committee Composition (for Chairperson and whole-time members):**
* Cabinet Secretary - Chairman.
* Additional Principal Secretary to the Prime Minister - Member.
* Secretary, Ministry of Finance, Department of Financial Services - Member.
* Chairperson, Pension Fund Regulatory and Development Authority (for selection of whole-time member) - Member.
* Three outside experts of repute (nominated by the Central Government from a panel of experts in Finance, Economics, Law, Public Administration, Financial Markets and related subjects) - Member.
**Impact Analysis**
**Central Government**
* **Impact:** The Central Government is responsible for appointing the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority based on the Selection Committee's recommendations. They also nominate outside experts to the Selection Committee.
* **Action Required:** Implement the amended rules for future appointments of the Chairperson and whole-time members and also nominate outside experts to the selection committee.
**Pension Fund Regulatory and Development Authority (PFRDA)**
* **Impact:** The PFRDA is impacted in terms of the process for appointing its Chairperson and whole-time members.
* **Action Required:** Ensure that the selection process for the Chairperson and whole-time members is aligned with the amended rules.
**Selection Committee Members**
* **Impact:** Members of the Selection Committee are now clearly defined.
* **Action Required:** Participate in the selection process of the Chairperson and full-time member.
**Candidates for Chairperson and Whole-time Members**
* **Impact:** The eligibility criteria and selection process now include a more structured selection committee.
* **Action Required:** Be aware of the revised selection process and eligibility criteria when applying for positions.
Key Entities Referenced
Pension Fund Regulatory and Development Authority Act, 2013: The primary legislation authorizing the rules related to salary and service conditions.
Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014: The original rules being amended by this notification regarding salary and service conditions.
Pension Fund Regulatory and Development Authority: The regulator whose chairperson and whole-time members' salary, allowances, and service conditions are being governed.
Selection Committee: The committee constituted to recommend the appointment of the Chairperson and whole-time members of the PFRDA.
Ministry of Finance: The ministry responsible for issuing the notification related to the rules.
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (i)
PART II—Section 3—Sub-section (i)
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la- 671] ubZ fnYyh] cq/okj] vxLr 2] 2017@Jko.k 11] 1939
No. 671] NEW DELHI, WEDNESDAY, AUGUST, 2 2017/SRAVANA 11, 1939
ििििवववव(cid:7275)(cid:7275)(cid:7275)(cid:7275) ममममं(cid:7074)ं(cid:7074)ं(cid:7074)ं(cid:7074)ााााललललयययय
((((ििििवववव(cid:7275)(cid:7275)(cid:7275)(cid:7275)ीीीीयययय ससससववेेववेे ााााएएएएंं ंं ििििववववभभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:7408)द(cid:7016)ली, 2 अग(cid:7021) त, 2017
ससससाााा....ककककाााा....ििििनननन.... 999988887777((((अअअअ))))....————के(cid:7008) (cid:7076)ीय सरकार, प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण अिधिनयम, 2013
(2013 का 23) क(cid:7409) धारा 5 क(cid:7409) उप-धारा (3) के साथ प(cid:7407)ठत धारा 51 क(cid:7409) उप-धारा (2) के खंड (क) (cid:7367)ारा (cid:7079)द(cid:7004) त
n~
शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, एत (cid:7367)ारा, प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (अ(cid:7007)य(cid:6979) तथा पूण(cid:6981)कािलक
सद(cid:7021)य(cid:7298) को दये वेतन एवं भ(cid:7275)े और सेवा क(cid:7409) अ(cid:7008)य िनबंधन एवं शत(cid:7288)) िनयमावली, 2014 म(cid:7286) संशोधन करने के िलए
िन(cid:7388)िलिखत िनयम बनाती ह,ै नामत::—
I (1) इन िनयम(cid:7298) को प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (अ(cid:7007)य(cid:6979) तथा पूण(cid:6981)कािलक सद(cid:7021)य(cid:7298)
को दये वेतन एवं भ(cid:7275) े और सवे ा क(cid:7409) अ(cid:7008)य िनबंधन एवं शत)(cid:7288) िनयमावली, 2017 कहा जाएगा।
(2) ये िनयम राजप(cid:7074) म(cid:7286) (cid:7079)काशन क(cid:7409) तारीख से (cid:7079)वृ(cid:7275) ह(cid:7298)गे।
II. प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण (अ(cid:7007)य(cid:6979) तथा पूण(cid:6981)कािलक सद(cid:7021)य(cid:7298) को दये वेतन एवं भ(cid:7275)े
और सेवा क(cid:7409) अ(cid:7008)य िनबंधन एवं शत(cid:7288)) िनयमावली, 2014 म(cid:7286) िनयम 3 के उप-िनयम (1) म(cid:7286) िन(cid:7388)िलिखत उप-िनयम
को (cid:7079)ित(cid:7021)थािपत (cid:7408)कया जाएगा, नामत::—
“(1) प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण के अ(cid:7007)य(cid:6979) और इसके (cid:7079)(cid:7004)येक पूण(cid:6981)कािलक सद(cid:7021)य क(cid:7409) िनयिु (cid:7334)
के(cid:7008)(cid:7076) सरकार (cid:7367)ारा चयन सिमित क(cid:7409) अनुशंसा पर क(cid:7409) जाएगी िजसम(cid:7286) िन(cid:7388)िलिखत शािमल ह(cid:7298)गे, नामत::—
4658 GI/2017 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(क) मंि(cid:7074)म(cid:7003)डल सिचव —अ(cid:7007)य(cid:6979)
(ख) (cid:7079)धान मं(cid:7074)ी के अपर (cid:7079)धान सिचव —सद(cid:7021)य
(ग) सिचव, िव(cid:7275) मं(cid:7074)ालय, िव(cid:7275)ीय सेवाए ं िवभाग —सद(cid:7021)य
(घ) अ(cid:7007)य(cid:6979), प(cid:7286)शन िनिध िविनयामक और िवकास (cid:7079)ािधकरण —सद(cid:7021)य
(पूण(cid:6981)कािलक सद(cid:7021)य के चयन के िलए)
(ड.) तीन (cid:6990)याित(cid:7079)ा(cid:7385) बा(cid:7405) िवशेष(cid:6980)
(के(cid:7008)(cid:7076) सरकार (cid:7367)ारा िव(cid:7275), अथ(cid:6981)शा(cid:7403), िविध, लोक (cid:7079)शासन,
िव(cid:7275)ीय बाजार के (cid:6979)े(cid:7074)(cid:7298) तथा इसके (cid:7367)ारा अनुरि(cid:6979)त िवषय(cid:7298)
के िवशेष(cid:6980)(cid:7298) के पैनल से नािमत (cid:7408)कया जाना ह)ै —सद(cid:7021)य”
[फा. सं. 11/5/2014–पीआर]
सुची(cid:7008)(cid:7076) िम(cid:7088), संयु(cid:7334) सिचव
(cid:7407)(cid:7407)(cid:7407)(cid:7407)टटटट(cid:7009)(cid:7009)(cid:7009)(cid:7009)पपपपणणणणीीीी: मूल िनयम भारत के राजप(cid:7074), असाधारण म(cid:7286) 20 अग(cid:7021)त, 2014 के सा.का.िन. 597(अ) के (cid:7367)ारा (cid:7079)कािशत
(cid:7408)कए गए थे।
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 2nd August, 2017
G.S.R. 987(E).— In exercise of the powers conferred by clause (a) of sub-section (2) of section 51,
read with sub-section (3) of section 5 of the Pension Fund Regulatory and Development Authority Act, 2013
(23 of 2013), the Central Government hereby makes the following rules to amend the Pension Fund
Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions
of Service of, Chairperson and Whole-time Members) Rules, 2014, namely:—
I. (1) These rules may be called the Pension Fund Regulatory and Development Authority (Salary
and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time
Members) Amendment Rules, 2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
II. In the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable
to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014, in
rule 3, for sub-rule (1), the following sub-rule shall be substituted, namely:—
“(1) The Chairperson of the Pension Fund Regulatory and Development Authority and every whole-
time member thereof shall be appointed by the Central Government on the recommendation of a Selection
Committee consisting of the following, namely:—
(a) Cabinet Secretary —Chairman;
(b) Additional Principal Secretary to the Prime Minister —Member;
(c) Secretary, Ministry of Finance, Department of Financial Services —Member;
(d) Chairperson, Pension Fund Regulatory and Development Authority —Member:
(for selection of whole-time Member)¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3
(e) Three outside experts of repute
(to be nominated by the Central Government from a
panel of experts in the fields of Finance, Economics,
Law, Public Administration, Financial Markets
and related subjects to be maintained by it) —Member”.
[F. No. 11/5/2014-PR]
SUCHINDRA MISRA, Jt. Secy.
Note: The principal rules were published in the Gazette of India, Extraordinary, vide notification number
G.S.R. 597(E), dated 20th August, 2014.
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.