PFRDA notifies freshly reconstituted Pension Advisory Committee with wider expert base

The Pension Fund Regulatory and Development Authority has formally announced a complete reconstitution of its Pension Advisory Committee through a notification dated 5th January, 2026. This new committee structure has been put in place under the statutory framework of Section 45(1) of the Pension Fund Regulatory and Development Authority Act, 2013 (Act 23 of 2013), read along with regulation 6(4) of the Pension Fund Regulatory and Development Authority (Pension Advisory Committee Meetings) Regulations, 2015.

The latest reconstitution supersedes the earlier committee that had been notified on 19th May, 2022, and the changes are effective from the date of the new notification itself.

Enabling provisions under the PFRDA Act

The Authority has exercised its powers under:

  • Section 45(1) of the Pension Fund Regulatory and Development Authority Act, 2013 (Act 23 of 2013), which empowers the Authority to constitute advisory committees; and
  • sub regulation 4 of regulation 6 of the Pension Fund Regulatory and Development Authority (Pension Advisory Committee Meetings) Regulations, 2015, which deals with the composition and functioning of the Pension Advisory Committee.

By explicitly invoking these provisions, the Authority has ensured that:

  1. The reconstituted Pension Advisory Committee is fully anchored in the governing statute and regulations.
  2. The earlier committee notified through the Gazette Notification dated 19th May, 2022 stands replaced from the effective date mentioned in the new notification.

Note: The reconstitution does not dilute or alter the statutory powers of the Authority; it merely changes the composition of the advisory body that supports the Authority on pension-related policy and regulatory issues.

Key change: Complete reconstitution of the Pension Advisory Committee

Supersession of the 2022 committee

The notification categorically states that the Pension Advisory Committee constituted earlier vide Gazette Notification dated 19th May, 2022 has been reconstituted. This implies:

  • The earlier committee’s composition is no longer in force.
  • The advisory role and mandate now vest in the newly notified set of members.
  • All advisory deliberations, recommendations and consultations on pension matters will henceforth be routed through this reconstituted body.

Effective date

The notification clarifies that the reconstitution is operative “with effect from the date of this notification”, i.e., 5th January, 2026. There is no retrospective effect claimed or implied, and all actions of the earlier committee up to this date remain valid.

Composition of the reconstituted Pension Advisory Committee

The reconstituted committee brings together representatives from central and state government departments, public financial authorities, pension sector institutions, market associations, industry bodies, and independent subject-matter experts.

The committee members as notified are as follows: