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Govt. amends PFRDA (Salary and Allowances ) Rules

MINISTRY OF FINANCE

(Department of Financial Services)

NOTIFICATION

New Delhi, the 2nd August, 2017

G.S.R. 987(E).— In exercise of the powers conferred by clause (a) of sub-section (2) of section 51, read with sub-section (3) of section 5 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Central Government hereby makes the following rules to amend the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014, namely:—

I. (1) These rules may be called the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Amendment Rules, 2017.

(2) They shall come into force on the date of their publication in the Official Gazette. II. In the Pension Fund Regulatory and Development Authority (Salary and Allowances Payable to, and Other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014, in rule 3, for sub-rule (1), the following sub-rule shall be substituted, namely:—

“(1) The Chairperson of the Pension Fund Regulatory and Development Authority and every wholetime member thereof shall be appointed by the Central Government on the recommendation of a Selection Committee consisting of the following, namely:—

(a) Cabinet Secretary —Chairman;

(b) Additional Principal Secretary to the Prime Minister —Member; (c) Secretary, Ministry of Finance, Department of Financial Services —Member;

(d) Chairperson, Pension Fund Regulatory and Development Authority —Member: (for selection of whole-time Member)

(e) Three outside experts of repute (to be nominated by the Central Government from a panel of experts in the fields of Finance, Economics, Law, Public Administration, Financial Markets and related subjects to be maintained by it) —Member”.

[F. No. 11/5/2014-PR]

SUCHINDRA MISRA, Jt. Secy.

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