Money & Banking

Centre appoints DFS Joint Secretary Pankaj Sharma as PFRDA part-time member

K.R. Srivats | | Updated on: May 28, 2022

Sharma has come in the place of Vandita Kaul, who had repatriated to parent cadre in March

The Centre has appointed Pankaj Sharma, Joint Secretary in Department of Financial Services (DFS) as part-time member of the Pension Fund Regulatory & Development Authority (PFRDA).

In the PFRDA Board, Sharma has come in the place of erstwhile DFS Additional Secretary Vandita Kaul, who was repatriated to her parent cadre in March this year, sources said.

Pension regulator PFRDA has a Chairman besides three whole-time members and three part-time members (only two are filled up posts). Anne George Matthew, Additional Secretary in Finance Ministry is the other part-time member in PFRDA Board.

Of the three whole-time members, the posts of two members — Law and Economics— are falling vacant on May 31. The Finance Ministry has already invited applications for these two posts.

India’s pension assets under management (AUM) are growing at a robust pace of about 27-30 per cent Compounded Annual Growth Rate (CAGR) and are expected to touch ₹ 30 lakh crore by 2030.

In 2021-22, Pension AUM grew a robust 27.43 per cent at ₹7.37 lakh crore as against ₹ 5.78 lakh crore in 2020-21.

Meanwhile, the Centre has appointed Suchindra Mishra, Additional Secretary in the Department of Financial Services as a member in the Board of International Financial Services Authority (IFSCA). It has also appointed Shashank Saxena, Senior Economic Advisor in Department of Economic Affairs as a member in IFSCA, which is currently the Gift City regulator.

Published on May 28, 2022
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