The Pension Fund Regulatory and Development Authority (PFRDA), on March 24, 2026, issued the Pension Fund Regulatory and Development Authority (Point of Presence) (Amendment) Regulations, 2026, under the PFRDA Act, 2013. The amendments come into force upon publication in the Official Gazette and revise key provisions of the 2018 regulations governing Points of Presence (PoPs).
A major change is the expanded definition of “pension agent,” which now explicitly includes business correspondents of banks, insurance agents registered with IRDAI, mutual fund distributors registered with AMFI, and other persons permitted by the Authority. The amendment also clarifies that pension agents operate under a principal-agent relationship and may associate with multiple PoPs for distribution of pension schemes.
Further, the regulations strengthen governance by mandating periodic audits of processes, operations, and accounts, including activities performed by pension agents, as per PFRDA guidelines. The provision relating to payment of inspection or audit fees has also been revised, empowering the Authority to prescribe procedures through directions or circulars.
[Notification No. PFRDA/16/05/112/0018/2020-REG-POP]
