Departments in Authority

Overview

The Department serves as a knowledge centre for pension research. It Supports evidence-based pension policy through research, data dissemination, publications, and stakeholder engagement. It also stands as an observer of various market trends in financial market and macro-economic indicators which may impact the pension sector and assets under NPS. In addition to its policy research functions, the department is also responsible for key publications such as the PFRDA Pension Bulletin and the Handbook of NPS Statistics, which provide stakeholders with valuable insights and up-to-date data on the trends in the National Pension System.

Key Functions

1. Market Watch

Tracks market trends, India’s rapidly evolving demographic profile, economic shifts, and financial sector dynamics, for shaping forward-looking, inclusive, and sustainable pension policies.

2. Pension Bulletin

Publishes a monthly bulletin compiling and disseminating key updates on pension-related developments.

3. Policy Research

Conducts in-depth research on Indian and global pension policies, evaluating best practices for overall improvement of pension ecosystem.

4. Handbook of NPS Statistics

Collects, verifies, and publishes comprehensive statistical data on the National Pension System (NPS).

5. PFRDA Development Research Group (DRG)

Supports and promotes academic inquiry through research projects and commissioned studies to generate actionable insights.

6. Data Requests as per the Data Governance Policy

Nodal department review and sharing data with the external agency for matters related to research and analysis purposes.

7. Working Paper Series

Nodal department for processing and approving the working paper of PFRDA.

Overview

The role of Promotion and Development Department of the Pension Fund Regulatory and Development Authority (PFRDA) is to promote and develop the Atal Pension Yojana (APY), NPS Lite, and the National Pension System (NPS) [across Governments, Central Autonomous Bodies (CABs) and State Autonomous Bodies (SABs)].
The department fosters an environment conducive to the adoption and implementation of these pension schemes, ensuring financial security in old age.

To achieve this, the department collaborates with various stakeholders, including state and central government bodies, financial institutions, and fintech companies, to strengthen the pension ecosystem, enhance scheme sustainability, and increase subscriber participation.

Key Functions

1. Promotional Activities for APY

Finalisation of annual targets for APY Service Providers (APY-SPs)
Fixation of targets and communicating the same to APY-SPs, SLBCs/ UTLBCs.
Review of performance of APY-SPs with respect to achievement of targets Conducting Annual and Zonal Review Meetings, In-person & VC Meetings with APY-SPs/ SLBCs/UTLBCs/ LDMs etc., Letters/ E-mails to Higher Officials of APY-SPs, FI-Heads, SLBC/ UTLBC Convenors, Nodal Officers etc.
State Level and District APY Outreach Programmes
Organizing State Level and District Level APY Outreach Programmes in co-ordination with SLBCs/UTLBCs and LDMs.
Campaigns
Conceptualizing, designing and implementation of various campaigns to augment the enrolments, persistency and regularization of Nil Credit accounts on an ongoing basis throughout the year, declaration of results, procurement and distribution of awards and certificates to the winning APY-SPs, Nodal Officers, Branch Heads, SLBCs/UTLBCs Officials, LDMs etc.
Interaction with SLBCs/ UTLBCs
Officials participate in quarterly and sub-committee meetings of SLBCs/ UTLBCs on an ongoing basis and review the developments with regard to APY implementation in the respective States and UTs.
Training and Media
Planning medial campaign, handling social media, press releases, preparing training content and arranging training programs and subscribers awareness programs through empanelled training agency, etc.

2. Developmental Initiatives for APY

Activation of banks and branches.
Engagement with Central Ministries, State Governments, RBI, NABARD, Financial Institutions, NRLM/ SRLM etc. for promotion of APY.
APY Product/ Process improvements: new functionality development, e-APY, etc.
Updation of publicity content: APY Flyer, Subscriber Information Brochure, FAQs, content on website etc.
Advocacy through public lectures and talks at premier academic institutions etc.

3. Coordination with Stakeholders for APY

Liaising with Dept. of Financial Services (DFS)/ Dept. of Expenditure (DoE) – Budgeting & Expenditure under APY.
Central Ministries, State Governments, Central Recordkeeping Agencies (CRAs), PoPs-APY, SLBCs/UTLBCs, Financial Sector Regulators, Financial Institutions and Other stakeholders – for various matters.
Demands for funds under RE/BE.
Incentive Release to APY-SPs
Actuarial valuation of APY

4. Facilitation for Migration from NPS Lite to APY

5. Implementation of NPS in CABs & SABs

Identifying and onboarding CABs and SABs for NPS implementation.

6. Additional Responsibilities

Agendas for Authority and Pension Advisory Committee (PAC) meetings.
Parliament Matters and Questions, RTIs.
Data/ MIS sharing with PMO, Niti Aayog, DFS etc.
Preparation of MIS

Overview

The Promotion and Development Department of the Pension Fund Regulatory and Development Authority (PFRDA) plays a crucial role in expanding the National Pension System (NPS) across the non-government sector, including the All Citizen Model, Corporate Model, and Retirement Advisors (RA). The department's primary focus is to increase awareness, simplify subscription processes, and enhance engagement with individuals and organizations.
By collaborating with Points of Presence (POPs), Central Recordkeeping Agencies (CRAs), and key stakeholders, the department ensures a seamless NPS onboarding process. Through strategic campaigns, training programs, and partnerships, it fosters an NPS-friendly ecosystem, making retirement planning more accessible and beneficial for all.

Key Functions

1. Strategy Formulation

Develops annual strategies to boost NPS adoption in the non-government sector.
Conducts yearly performance analysis and goal setting based on stakeholder feedback.

2. Performance Review & Optimization

Regularly reviews NPS distribution channels to enhance efficiency.
Organizes strategy meetings and rewards top-performing POPs for their contribution.

3. Engagement with POPs & CRAs

Works closely with POPs and CRAs to streamline NPS subscriber onboarding.
Identifies and resolves operational bottlenecks for a smoother process.

4. Awareness & Outreach Programs

Conducts educational sessions with trade bodies and organizations to highlight NPS benefits.
Engages in multi-channel promotional activities to enhance awareness.

5. POP Activation & Support

Assists newly registered POPs and helps dormant POPs activate their operations.
Provides essential guidance for business plan implementation.

6. Training & Capacity Building

Organizes training sessions for POP and corporate officials to keep them updated on NPS operations and benefits.
Enhances the knowledge base of key stakeholders for effective NPS promotion.

7. Employer Engagement

Works with corporates, government bodies, and CPSEs to drive NPS adoption in their organizations.
Facilitates seamless integration of NPS as a retirement benefit for employees.

8. Product Innovation & Development