Which institution in India acts as the regulator for Pension Funds under the National Pension System (NPS)?

💡 Solution & Explanation

The Pension Fund Regulatory and Development Authority is the statutory regulatory body established by an Act of Parliament to promote and regulate pension funds under the National Pension System. Other institutions like the RBI or SEBI regulate banking and securities markets respectively, distinct from pension administration. PFRDA operates under the administrative control of the Ministry of Finance.