PFRDA Forms NPS Payout Committee

The India — Insurance Regulatory and Development Authority (PFRDA) has established a high-level committee to create guidelines and regulations for assured payouts under the National Pension System (NPS). Chaired by M. S. Sahoo, the 15-member committee comprises experts from various fields including legal, actuarial, finance, insurance, capital markets, and academia. Its mandate includes developing regulations for assured payout products, ensuring a smooth transition for subscribers from accumulation to payout phases, and exploring market-based guarantees. The committee will also define operational aspects like lock-in periods, withdrawal limits, pricing, and fee structures, as well as establish risk management norms and examine tax implications. This initiative aims to enhance retirement income security for millions of subscribers and aligns with India's vision of Viksit Bharat 2047, promoting financial independence in golden years.