PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (PFRDA), 1st Floor, B-14/A, Shivaji Chatrapati Bhawan, Qutub Institutional Area, New Delhi-110016 Tel No. 011-26517503, issued a warning on 13.01.2016 against unauthorized entities engaging in fraudulent activities related to NPS Lite/Swavalamban. Some entities are reported to be illegally issuing application forms and collecting funds while using the National Emblem and PFRDA logo to mislead the public. PFRDA has not authorized any entity to display its logo or the National Emblem, or to operate the Swavalamban scheme. Fresh enrollment under the Swavalamban scheme has been discontinued since April 1, 2015, as directed by the Government of India. The Authority will take strict action against illegal activities and initiate proceedings with the police and other enforcement authorities. Unauthorized entities are warned to cease operating under NPS-Lite/Swavalamban, or face consequences. Contact Ashish Kumar, General Manager, for and on behalf of PFRDA.
Key Entities Referenced
Pension Fund Regulatory and Development Authority Act, 2013: The Act under which the Authority exercises its powers to penalize illegal activities.
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY: The regulatory body issuing the warning against fraudulent activities.
NPS Lite / Swavalamban: The scheme related to fraudulent activities by unauthorized entities.
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
1" Floor, B-14/A, Shivaji Chatrapati Bhawan, Qutub Institutional Area,
New Dethi — 110016 Tel No. 011-26517503
WARNING AGAINST ENTITIES INDULGING IN FRAUDULENT ACTIVITIES UNDER
NPS LITE / SWAVALAMBAN
13.01.2016
Whereas it has been reported that some unauthorized entities are illegally carrying out
the NPS-Swavalamban related activities by issuing application forms, collecting funds
from general public. These entities are also alleged to be using the National Emblem
and PFRDA logo on their marketing material to misguide the general public.
It is hereby informed that this Authority has not authorized any entity to display the
PFRDA’s logo or the National Emblem either on its promotional material or any other
document, nor have such entities been authorized by PFRDA, in any manner to operate
the Swavalamban scheme. Further fresh enrolment under the Swavalamban scheme
has been discontinued on the directions of the Government of India w.ef 01" April
2015.
This Authority shall take a strict view of such illegal activities and penalize the erring
entities, besides such other actions as may be warranted in exercise of its powers under
the provisions of the Pension Fund Regulatory and Development Authority Act, 2013.
The Authority shall also initiate proceedings against offenders with the police and other
enforcement authorities.
Hence. ail unauthorized entities, who are indulging in such activities are warned to
desist and refrain from operating under NPS-Lite/Swavalamban in any manner, failing
which actions as aforementioned shall be resorted to. f
(Ashish Kumar)
General Manager
For and on behalf of PFRDA