Correct option is B
The correct answer is:(C) PFRDA
Explanation:
The National Pension Scheme (NPS) is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).
PFRDA is a statutory body established by the PFRDA Act, 2013, which oversees and regulates pension funds in India.
Information Booster:
- NPS was launched in 2004 for government employees and later extended to all Indian citizens in 2009.
- It is a voluntary, long-term retirement savings scheme designed to provide financial security after retirement.
- The scheme offers two types of accounts:
- Tier-I (Mandatory retirement account)
- Tier-II (Voluntary savings account with withdrawal flexibility)
- NPS investments are managed by registered pension fund managers, and returns are market-linked.
Additional Knowledge:
IRDA (Insurance Regulatory and Development Authority of India):
Regulates the insurance sector in India.
Responsible for overseeing life and general insurance companies.
It does not regulate pension schemes.
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