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PFRDA – Comments are invited on PFRDA Regulations 2014 from all concerned

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PFRDA – Comments are invited on PFRDA Regulations 2014 from all concerned

DRAFT – Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2014

1. The PFRDA Act was passed by Parliament on Sep/19/2013 and notified on Feb/01/2014. In accordance with section 52 of the Act, the Authority may, by notification make regulation consistent with the Act and rules made thereunder for carrying out the provisions of the Act.

2. “Pension fund” is defined under Section (2) (l) of the Act as “intermediary which has been granted a certificate of registration under sub-section (3) of section 27 by the Authority as a pension fund for receiving contributions, accumulating them and making payments to the subscriber in the manner as may be specified by regulations”.

ALL CENTRAL GOVERNMENT EMPLOYEES WILL HAVE TO COMPULSORILY SUBMIT THEIR ASSETS AND LIABILITIES

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ALL CENTRAL GOVERNMENT EMPLOYEES WILL HAVE TO COMPULSORILY SUBMIT THEIR ASSETS AND LIABILITIES

All Central Government employees will now have to compulsorily submit a detailed report on their properties and debt owed by them…

Already, each year, the Group-A officials are required to submit information about the immovable properties owned by them. Now All categories of Central Government employees too have been asked to submit these details. The DOPT has issued relevant orders to this effect.

The Government has issued this order in accordance with the Lokpal rules. According to this rule, Central Government employees will now have to submit all details regarding the cash-in-hand, bank investments, share certificates, stocks and bonds, mutual fund investments, insurance policies, P.F. details, loans, motor vehicles, gold and silver ornaments, and precious metals, to the Government.

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