Execution of PFRDA Act a major task: FM

With the Lok Sabha approving long-pending reforms in the pension sector,finance minister P Chidambaram has said that the implementation of the Pension Fund Regulatory and Development Authority Act 2013 in letter and spirit is a major task before the government.

The PFRDA Act would give statutory status to the Pension Fund Regulatory and Development Authority the pension sector regulator,and in addition to other objectives,aims to address apprehensions regarding safety and yield under the National Pension System, he said at the fourth meeting of the Parliamentary Consultative Committee attached to the finance ministry.