The Pension Fund Regulatory and Development Authority (PFRDA) on November 27, 2024, issued the Master Circular – Guidance to Retirement Advisers.
The following has been stated: -
•This circular is issued in the exercise of powers conferred under sub-section (1) of Section 14 read with sub-section (2) clause (c) and (m) of Section 14 of the Pension Fund Regulatory and Development Authority Act, 2013 and Chapter II and III of the Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016 (as amended).
•This master circular consolidates the existing instructions on “Guidance to Retirement Advisers”.
•The Retirement Adviser is any individual or entity providing retirement advice on the National Pension System (NPS) or other pension schemes under the PFRDA Act, 2013, for compensation. Retirement advice includes onboarding, pension fund selection, investment allocation, portfolio management, and retirement planning.
•This circular outlines guidelines for registration, fees, charges, service standards, grievance redressal, and renewal requirements for Retirement Advisers. The Master Circular has been updated with relevant instructions as of the current date.
The detailed circular is given in the document below.
[Circular No. PFRDA/Master Circular/2024/06/RA-01]
