**Executive Summary**
This document is a notification from the Pension Fund Regulatory and Development Authority (PFRDA) regarding the reconstitution of the Pension Advisory Committee (PAC). The notification, dated January 5, 2026, references powers conferred by the PFRDA Act of 2013 and the PFRDA (Pension Advisory Committee Meetings) Regulations of 2015. The reconstituted committee is effective from the date of the notification.
**Key Points / Main Content**
* **Reconstitution of the Pension Advisory Committee (PAC):**
* The PFRDA reconstitutes the PAC, originally formed via a gazette notification dated May 19, 2022.
* The reconstituted PAC is effective from January 5, 2026, the date of this notification.
* **Composition of the Reconstituted PAC:**
* The notification lists 17 members of the reconstituted committee, including representatives from various government departments, financial institutions, and industry experts. Some members include:
* Deputy Secretary (Establishment II), Department of Personnel & Training
* Deputy Controller General of Accounts (Technical Advice), Department of Expenditure, Ministry of Finance
* Director (A/Cs), Department of Posts, New Delhi
* Managing Director & Chief Executive Officer, SBI Pension Funds Private Limited
* President, Institute of Actuaries of India
* **Chairperson and Members:**
* The Chairperson and members of the PFRDA will serve as ex officio Chairperson and ex officio members of the Pension Advisory Committee.
**Impact Analysis**
**PFRDA Chairperson and Members**
* **Impact:** They automatically assume the roles of Chairperson and members of the PAC.
* **Action Required:** No specific action is mentioned beyond fulfilling the responsibilities associated with these ex officio roles.
**Listed Members of the Reconstituted PAC**
* **Impact:** Expected to participate in the PAC's activities and provide advisory input.
* **Action Required:** Attend meetings and contribute to the committee's objectives as per the PFRDA's guidelines.
**Pension Industry Stakeholders (Generally)**
* **Impact:** The advice provided by the PAC may influence the regulatory approach of the PFRDA.
* **Action Required:** Monitor the PAC's activities and be prepared to adapt to any resulting changes in regulations or guidelines.
Key Entities Referenced
Pension Fund Regulatory and Development Authority Act, 2013: The primary law authorizing the actions described in the notification.
Pension Fund Regulatory and Development Authority (Pension Advisory Committee Meetings) Regulations, 2015: Regulations specifying rules for meetings of the Pension Advisory Committee.
Pension Fund Regulatory and Development Authority (PFRDA): The regulatory body responsible for overseeing pension funds in India; the primary subject of the notification.
Pension Advisory Committee: A committee reconstituted by the notification to advise the Pension Fund Regulatory and Development Authority.
New Delhi: Location from which notification is issued, implying applicability to entities under its jurisdiction.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-08012026-269210
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 18] नई दिल्ली, बुधिार, िनिरी 7, 2026/पौष 17, 1947
No. 18] NEW DELHI, WEDNESDAY, JANUARY 7, 2026/PAUSHA 17, 1947
पिें न जनजध जिजनयामक और जिकास प्राजधकरण
अजधसचू ना
नई दिल्ली, 5 िनिरी, 2026
फा. स.ं पीएफआरडीए-01/13/13/0004/2025-पीएसी.—पेंिन जनजध जिजनयामक और जिकास प्राजधकरण
अजधजनयम, 2013 (2013 का 23) की धारा 45 की उप-धारा (1) के द्वारा प्रित्त िजियों का प्रयोग करते हुए, और पेंिन
जनजध जिजनयामक और जिकास प्राजधकरण (पिें न सलाहकार सजमजत की बैठकें) जिजनयम, 2015 के जिजनयम 6 के
उप-जिजनयम 4 के जनबंधनों के अनुरूप प्राजधकरण, एततद्वारा, पूिव म ेंरािपत्र अजधसूचना दिनांक 19 मई, 2022 के माध्यम
से गठठत पेंिन सलाहकार सजमजत को, इस अजधसूचना के लाग ूहोने की जतजि से पुनगवठठत करता ह।ै पुनगवठठत पेंिन सलाहकार
सजमजत जनम्नजलजखत ह ै:
1. उप सजचि (स्ट्िापना II), कार्मवक और प्रजिक्षण जिभाग
2. उप लेखा महाजनयंत्रक (तकनीकी सलाह), व्यय जिभाग, जित्त मत्रं ालय
3. जनिेिक (लेखा), डाक जिभाग, नई दिल्ली
4. जनिेिक (जित्त/बिट), रक्षा जित्त, रक्षा मंत्रालय के प्रजतजनजध के रूप में
145 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
5. जनिेिक, बिट, जित्त जिभाग, भोपाल, मध्य प्रिेि सरकार
6. मुख्य कायवकारी-इंजडयन बैंक्स एसोजसएिन
7. अध्यक्ष, एनपीएस न्यास
8. प्रबंध जनिेिक एिं मुख्य कायवकारी अजधकारी, एस बी आई पेंिन फंड्स प्राइिेट जलजमटेड
9. प्रबंध जनिेिक एिं मुख्य कायवकारी अजधकारी, एजक्सस पेंिन फंड मैनेिमेंट जलजमटेड
10. प्रबंध जनिेिक एि ं मुख्य कायवकारी अजधकारी, प्रोठटयन ईगॉि टेक्नोलॉिीज़ जलजमटेड
(पूिव में एनएसडीएल ई-गिनेंस इंफ्रास्ट्रक्चर जलजमटेड)
11. जनिेिक, नेिनल इंस्ट्टीट्यूट ऑफ़ बैंक मैनेिमेंट, पणु े
12. अध्यक्ष, इंस्ट्टीट्यूट ऑफ एक्चअु रीज़ ऑफ इंजडया
13. मुख्य कायवकारी अजधकारी, दफक्स्ट्ड इनकम मनी माकेट एंड डेठरिेठटव्स एसोजसएिन ऑफ इंजडया
14. अध्यक्ष – सीआईआई – नेिनल कजमटी ऑन इन््योरेंस एडं पिें न्स
15. डॉ. एम.एस. साहू, पूि वअध्यक्ष, आईबीबीआई
16. श्री धीरेंद्र कुमार, संस्ट्िापक और सीईओ, िैल्य ूठरसचव
17. सुश्री जचत्रा ियजसम्हा, एक्चुअठरयल साइंस जििेषज्ञ और पूिव अध्यक्ष, एनपीएस न्यास
प्राजधकरण के अध्यक्ष और सिस्ट्य पेंिन सलाहकार सजमजत के पिेन अध्यक्ष और पिेन सिस्ट्य होंगे।
जििसुब्रमाजणयन रमण, अध्यक्ष
[जिज्ञापन-III/4/असा./590/2025-26]
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 5th January, 2026
F. No. PFRDA-01/13/13/0004/2025-PAC.—In exercise of the powers conferred by sub-section (1) of
section 45 of the Pension Fund Regulatory and Development Authority Act, 2013 (Act 23 of 2013), and in terms of
the sub regulation 4 of the regulation 6 of Pension Fund Regulatory and Development Authority (Pension Advisory
Committee Meetings) Regulations, 2015, the Authority hereby reconstitutes the Pension Advisory Committee
constituted earlier vide Gazette Notification dated 19th May, 2022, with effect from the date of this notification. The
reconstituted Pension Advisory Committee is as under:
1. Deputy Secretary (Establishment II), Department of Personnel & Training
2. Deputy Controller General of Accounts (Technical Advice), Department of Expenditure, Ministry of Finance
3. Director (A/Cs), Department of Posts, New Delhi
4. Director (Fin/Budget), Defence Finance, as representative of Ministry of Defence
5. Director, Budget, Department of Finance, Bhopal, Government of Madhya Pradesh
6. Chief Executive-Indian Banks’ Association
7. Chairman, NPS Trust
8. Managing Director & Chief Executive Officer, SBI Pension Funds Private Limited
9. Managing Director & Chief Executive Officer, Axis Pension Fund Management Limited
10. Managing Director & Chief Executive Officer, Protean eGov Technologies Limited. (formerly NSDL e-
Governance Infrastructure Ltd.)[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3
11. Director, National Institute of Bank Management, Pune
12. President, Institute of Actuaries of India
13. Chief Executive Officer, Fixed Income Money Market and Derivatives Association of India
14. Chairman – CII-National Committee on Insurance & Pensions
15. Dr. M.S. Sahoo, former Chairperson, IBBI
16. Shri Dhirendra Kumar, Founder & CEO, Value Research
17. Ms Chitra Jayasimha, Expert in Actuarial Science and Ex-Chairman, NPS Trust
The Chairperson and the Members of the Authority shall be the ex officio Chairperson and ex officio members of the
Pension Advisory Committee.
SIVASUBRAMANIAN RAMANN, Chairperson
[ADVT.-III/4/Exty./590/2025-26]
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.