Pension Fund and Regulatory Development Authority (PFRDA) Compliance Audit

Pension Fund and Regulatory Development Authority (PFRDA) has set up a standing committee to suggest steps to deal with cybersecurity challenges to protect the interest of subscribers.

Pension Fund and Regulatory Development Authority (PFRDA) has set up a standing committee to suggest steps to deal with cybersecurity challenges to protect the interest of subscribers.

As a regulator of the pension sector and to safeguard the interest of pension subscribers, it is essential to keep an eye on the technological changes and cybersecurity challenges. The committee on ‘Information Systems and Technology and Cyber Security’ will suggest steps to align PFRDA’s technology with best industry practices.

PFRDA is a statutory body established by an Act of Parliament to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.

The panel will advise “with respect to development of Management Information Systems (MIS), supervisory and regulatory platforms which may be deployed in the Authority for efficient discharge of its responsibilities under PFRDA Act. The panel would also advise it on the new opportunities and challenges of “financial technologies and regulatory technologies”.

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