PERDA: Statutory authority for administering NPS
Q. Which of the following statements is/are correct about PERDA?
1. PERDA is not the Statutory authority.
2. NPS is mandatory for all Central Government employees with effect from Jan 1 2004.- Published on 10 Nov 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Only 2
- On 18 September 2013, the President, Pranab Mukherjee, gave his assent to Pension Fund Regulatory and Development Authority Bill of 2013.
- It has replaced the old and imperfect IPRDA Bill of 2003.
-PFRDA is authorized by Ministry of Finance, Department of Financial Services.
- PFRDA promotes old age income security by establishing, developing and regulating pension funds and protects the interests of subscribers to schemes of pension funds and related matters.
