**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 authority granted by the Pension Fund Regulatory and Development Authority Act, 2013, and the Pension Fund Regulatory and Development Authority (Pension Advisory Committee Meetings) Regulations, 2015. The reconstitution is effective from the date of the notification, superseding the previous committee formed on May 19, 2022.
**Key Points / Main Content**
* **Reconstitution of Pension Advisory Committee (PAC)**
* The PFRDA has reconstituted the PAC, effective from January 5, 2026.
* This action is taken under Section 45(1) of the Pension Fund Regulatory and Development Authority Act, 2013 and Pension Fund Regulatory and Development Authority (Pension Advisory Committee Meetings) Regulations, 2015.
* This supersedes the previous PAC constituted via Gazette Notification dated May 19, 2022.
* **Members of the Reconstituted PAC**
The PAC consists of the following members:
* 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
* Director (Fin/Budget), Defence Finance, as representative of Ministry of Defence
* Director, Budget, Department of Finance, Bhopal, Government of Madhya Pradesh
* Chief Executive-Indian Banks' Association
* Chairman, NPS Trust
* Managing Director & Chief Executive Officer, SBI Pension Funds Private Limited
* Managing Director & Chief Executive Officer, Axis Pension Fund Management Limited
* Managing Director & Chief Executive Officer, Protean eGov Technologies Limited. (formerly NSDL e-Governance Infrastructure Ltd.)
* Director, National Institute of Bank Management, Pune
* President, Institute of Actuaries of India
* Chief Executive Officer, Fixed Income Money Market and Derivatives Association of India
* Chairman – CII-National Committee on Insurance & Pensions
* Dr. M.S. Sahoo, former Chairperson, IBBI
* Shri Dhirendra Kumar, Founder & CEO, Value Research
* Ms Chitra Jayasimha, Expert in Actuarial Science and Ex-Chairman, NPS Trust
* **Leadership**
* The Chairperson and Members of the Authority are ex officio Chairperson and Members of the PAC.
**Impact Analysis**
**Pension Fund Regulatory and Development Authority (PFRDA)**
* **Impact**: The PFRDA is responsible for implementing the reconstitution of the PAC and ensuring its effective functioning.
* **Action Required**: The PFRDA needs to ensure the smooth transition and operation of the newly formed committee.
**Members of the Reconstituted Pension Advisory Committee (PAC)**
* **Impact**: Individuals appointed to the PAC are now responsible for advising the PFRDA on pension-related matters.
* **Action Required**: The newly appointed members need to actively participate in the PAC meetings and contribute their expertise.
**Pension Subscribers and Stakeholders**
* **Impact**: Indirectly affected, as the advice of the PAC influences PFRDA's decisions, impacting the pension landscape.
* **Action Required**: No direct action is required, but remaining informed about PFRDA's policies and regulations is advisable.
Key Entities Referenced
Pension Fund Regulatory and Development Authority Act, 2013: The primary legislation providing the authority to the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority: The regulatory body responsible for overseeing and developing the pension sector in India.
Pension Advisory Committee: A committee constituted by the Pension Fund Regulatory and Development Authority to provide advice and expertise. This notification pertains to its reconstitution.
Pension Fund Regulatory and Development Authority (Pension Advisory Committee Meetings) Regulations, 2015: The regulations governing the meetings and operations of the Pension Advisory Committee.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-08012026-269210
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CG-DL-E-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]
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