Pension regulator PFRDA has brought changes to Retirement Adviser Regulations to simplify the eligibility criteria, expedite the process of registration and remove the requirement of submission of security deposits.

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With the latest changes, which are aimed at enabling ease of doing business, all non-Individual applicants regulated by other financial regulators have been made eligible to be a Retirement Adviser.

Also now applications have to be disposed within 30 days and there is no need for security deposit, according to the Pension Regulatory and Development Authority (PFRDA).

These simplifications are in line with the Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the Ease of Doing Business.