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EXTRAORDINARY

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2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]

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PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

NOTIFICATION

New Delhi, the 30th

September, 2016

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (AGGREGATOR)

(FIRST AMENDMENT) REGULATIONS 2016

No.PFRDA/12/RGL/139/4 ─In exercise of the powers conferred by sub-section (1)of section 52 read with

clauses (e), (n), (o), (p) and (w) of sub-section (2) thereof of the Pension Fund Regulatory and Development Authority

Act, 2013 (23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following

regulations to amend the Pension Fund Regulatory and Development Authority (aggregator) Regulations 2015 namely:─

1. These regulations may be called the Pension Fund Regulatory and Development Authority (aggregator ) (First

Amendment) Regulations, 2016.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Pension Fund Regulatory and Development Authority (aggregator) Regulations 2015:-

(I) In regulation (1) after short title and commencement, the following shall be substituted:

“The Regulation aims to provide regulatory framework for registration of existing Aggregators and

monitor implementation of National Pension System for the best interest of the target subscribers.”

(II) sub-regulation (12) of regulation (3) shall stand omitted.

(III) In regulation (4), sub-regulation (3) shall be substituted as follows:-

4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]

“Any existing Aggregator, which was granted a permission to function as such by the interim Pension Fund

Regulatory and Development Authority prior to the establishment of the Authority under the Act may continue

to act as such for a period of ninety days from the notification of these regulations or such further time as

may be extended by the Authority, subject to such existing aggregator making an application for grant of

registration, and till the disposal of its application by the Authority.

(IV) In regulation (8), sub-regulation (4) shall be substituted as follows:-

“For the applicant, who satisfies all the eligibility condition after initial evaluation, the Authority may conduct

a due diligence at the applicant’s office at such date and time as may be determined by the Authority.”

(V) sub-regulation (2) of regulation (12) shall stand omitted.

(VI) In regulation (14) :

sub clause (i) of sub-regulation (1) shall be substituted as follows:-

(i) “dispatch of Permanent Retirement Account Number Card and statement of transaction or

any other document to the subscribers within the time limits as specified by the authority

from time to time”;

(ii) sub clause (j) of sub-regulation (1) shall stand omitted;

(iii) sub-regulation(3) shall be substituted as follows:

“Each aggregator shall enter into agreement with the National Pension System Trust, if so

required by the Authority, for all operation and other requirement as may be specified from

time to time and submit the compliance certificate to National Pension System Trust at

regular intervals”.

(VII) In Regulation 18, new sub-clause (i) and (j) shall be added after sub-clause(h) as follows:

“(i) to maintain records of requests of existing subscriber for migration to Atal Pension Yojana (APY)

or any pension scheme of the Government of India or a scheme under National Pension System or the

specific request received from existing subscribers for opting out from Atal Pension Yojana and

continue under National Pension System-Lite/Swavalamban Scheme;

(j) maintain the records of the requests received from subscribers for exiting from Atal Pension

Yojana (APY) or any pension scheme of the Government of India or a scheme under National Pension

System.

(IX) In regulation (27), sub-clause (g) of sub-regulation (1) shall be substituted as follows:-

“ fails in the periodic review of its performance in terms of subscriber servicing or against any other uniform

criteria applicable to all the registered aggregator;

HEMANT G. CONTRACTOR, Chairperson

[ADVT-III/4/Exty./288/16(203)]

Footnote:

1. The principal regulations, Pension Fund Regulatory and Development Authority (Aggregator) Regulations, 2015 was

published in the Gazette of India, Part III Section 4 on March 10, 2015 vide notification No. PFRDA/12/RGL/139/4.

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.