Summary: Regulatory Update: The Pension Fund Regulatory and Development Authority (PFRDA) has notified the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2026, dated 13th July, 2026, which come into force on their publication in the Official Gazette. The amendment revises Regulation 4A of the 2015 Regulations by numbering the existing provision as sub-regulation (1) and inserting sub-regulations (2), (3), and (4). The new provisions permit a Pension Fund to engage another entity to operationalize any specific purpose scheme in accordance with Authority guidelines, while making the Pension Fund responsible to the subscriber and liable for any act of omission or commission of the engaged entity. The amendment also requires the engaged entity to have technological capacity to integrate with the Pension Fund or other intermediaries, including the Central Recordkeeping Agency, for information collection, payment of benefits, or other subscriber services. Further, both the Pension Fund and the engaged entity shall be supervised under Authority guidelines and instructions and comply with all other applicable laws.
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.
