The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sivasubramanian Ramann as the new Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) for a five-year tenure. Ramann, currently serving as the Deputy Comptroller & Auditor General (CAG) and Chief Technology Officer at the CAG of India, will now oversee India’s pension sector, focusing on reforms and better regulation.

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• Sivasubramanian Ramann appointed as Chairperson of PFRDA for a five-year term.
• He replaces the outgoing chairperson to regulate India’s pension sector.
• Ramann currently serves as Deputy CAG and Chief Technology Officer at CAG of India.
• PFRDA, established under the PFRDA Act, 2013, regulates the National Pension System (NPS).
• Key responsibilities include overseeing pension funds, promoting retirement savings, and ensuring transparency.
• The National Pension System (NPS) is a government-backed retirement savings scheme managed by licensed fund managers.
• Ramann will focus on expanding the coverage of NPS and Atal Pension Yojana (APY), particularly for the unorganized sector.
• Key priorities include enhancing transparency, governance, and integrating technology into pension management.
• Ramann will also work towards increasing public participation in pension schemes.
• His leadership is expected to drive reforms and improvements in India’s pension sector.