Pension regulator PFRDA has extended the last date for submitting bids for selection of a System Integrator (SI) for design, development, implementation and maintenance of PFRDA intranet portal (PINTRA) to September 18.

The last date for submitting bids was earlier fixed at August 16. 

Several prospective bidders had approached PFRDA seeking more time to put in bids and this prompted the regulator to extend the last date to September 18, sources close to the development said.

Technology architecture

The PINTRA (PFRDA intranet system ) is the first phase of the Technology Architecture (TARCH) project, and the pension regulator is selecting a System Integrator (SI) vendor specifically for this module. 

The SI vendor will be responsible for studying existing processes, proposing improved workflows, and providing design, development, customisation, implementation, and maintenance services for PINTRA, PFRDA has said.

Going forward, PFRDA proposes to roll out more technology modules under the TARCH project, including Website Revamp and Chat-bot; PFRDA Online Intermediary Supervision Engine (POISE), and PFRDA Repository & Information Systems Management: Data and Analytics Platform (PRISM).

These modules will be taken up for bidding at a later stage, and PFRDA will announce a separate tendering process for each module.

India’s pension assets (NPS and APY) are growing at a compounded annual growth of over 20 per cent in recent years and had touched ₹9.92 lakh crore as of August 5 this year.

The aggregate pension assets (NPS and APY) regulated by PFRDA stood at ₹ 7.80 lakh crore a year ago.

PFRDA is confident that pension assets overseen by it will comfortably surpass ₹11 lakh crore this fiscal on the back of buoyant equity markets and increased appetite for pension cover.