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Core Purpose

This notification introduces the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2026, to amend the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015.

Detailed Summary

The Pension Fund Regulatory and Development Authority (PFRDA) has issued the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2026, dated July 13, 2026. These regulations are enacted under the powers conferred by sub-section (1) of section 52 read with clauses (g), (h), and (i) of sub-section (2) of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013). The primary purpose is to amend the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015, which were originally published on May 11, 2015, vide notification No. PFRDA/12/RGL/139/8, and last amended on December 16, 2025, vide notification No. PFRDA/16/14/06/0009/2018-REG-EXIT. The amendment specifically modifies Regulation 4A by renumbering the existing text as sub-regulation (1) and inserting new sub-regulations (2), (3), and (4). Sub-regulation (2) allows Pension Funds to engage other entities for specific purpose schemes, subject to Authority guidelines, while holding the Pension Fund responsible and liable to the subscriber for the engaged entity's actions. Sub-regulation (3) requires such engaged entities to possess the technological capacity to integrate with Pension Funds or other Authority-registered intermediaries, including the Central Recordkeeping Agency, for information collection or payment facilitation. Sub-regulation (4) mandates that both the Pension Fund and the engaged entity shall be supervised under Authority guidelines and instructions, in addition to complying with all other applicable laws. These amendment regulations will come into force on the date of their publication in the Official Gazette.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-20072026-274607 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 450] NEW DELHI, TUESDAY, JULY 14, 2026/ASHADHA 23, 1948 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION NEW DELHI, the 13th July, 2026 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (EXITS AND WITHDRAWALS UNDER THE NATIONAL PENSION SYSTEM) (AMENDMENT) REGULATIONS, 2026 F. No. PFRDA/16/14/06/0009/2018-REG-EXIT.—In exercise of the powers conferred by subsection (1) of section 52 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013) read with clauses (g), (h), and (i) of sub-section (2) thereof, the Pension Fund Regulatory and Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015, namely: - 1. These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2026. 2. These shall come into force on the date of their publication in the Official Gazette. 3. In the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015: a. In Regulation 4A: i. Existing regulation shall be numbered as sub-regulation (1). ii. After sub-regulation (1) of regulation 4A, following shall be inserted: “(2) For any specific purpose scheme to be provided by the Pension Fund, it may engage any other entity capable of performing such functions to operationalize such scheme, in accordance with the guidelines issued by the Authority. However, the Pension Fund shall be responsible to the subscriber, who has availed any service under such scheme and be liable for any act of omission or commission of any entity engaged by it, as specified above. (3) Such other entity shall have the technological capacity to integrate with Pension Fund or any other intermediary, registered with the Authority, including the Central Recordkeeping Agency, for the purpose of collection of information or facilitation of payment of benefits or any other services, to or on behalf of the subscriber. (4) The Pension Fund and the entity engaged by it for the purpose of provision of services envisaged under this provision shall be supervised under the guidelines and instructions issued by the Authority besides compliance with all other laws as are applicable.” Shri SIVASUBRAMANIAN RAMANN, Chairperson [ADVT.-III/4/Exty./219/2026-27] Note: The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015 were published in the Gazette of India on 11th May, 2015 vide notification No. PFRDA/12/RGL/139/8; and were last amended by the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2025 published in the Gazette of India on 16th December 2025 vide notification No. PFRDA/16/14/06/0009/2018-REG-EXIT.

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