The Ministry of Finance has announced the establishment of a dedicated Forum for Regulatory Coordination and Development of Pension Products to streamline pension regulations, strengthen consumer protection and promote market growth.
The decision, notified on August 25, 2025, follows consultations with financial regulators and key government departments. The new platform aims to harmonize regulatory practices, align investment standards, and ensure robust systemic risk management of pension assets.
Composition of the Forum
The Forum will be chaired by the Secretary, Department of Financial Services (DFS), Ministry of Finance. Members include senior officials from:
- Department of Economic Affairs (DEA)
- Ministry of Corporate Affairs (MCA)
- Ministry of Labour & Employment (MoLE)
- Ministry of Coal (MoC)
- Department of Revenue (DoR)
- Reserve Bank of India (RBI)
- Securities and Exchange Board of India (SEBI)
- Pension Fund Regulatory and Development Authority (PFRDA)
- Insurance Regulatory and Development Authority of India (IRDAI)
- International Financial Services Centres Authority (IFSCA)
- Employees' Provident Fund Organisation (EPFO)
A Joint Secretary (Pension Reforms), DFS will serve as Secretary to the Forum.
Key Responsibilities
The Forum will focus on:
- Ensuring regulatory consistency for transparency and predictability.
- Facilitating portability of pension products while strengthening consumer protection and grievance redressal.
- Driving product innovation and development in the pension sector.
- Raising awareness among subscribers about pensions as an essential financial product.
- Encouraging adoption of global best practices in pension regulation and supervision.
Additionally, a sub-committee led by the Joint Secretary, DFS, will deliberate on sector-specific issues, regulatory harmonization, and policy initiatives related to pensions.
This move is expected to provide a more secure and efficient pension ecosystem, empowering subscribers and fostering sustainable growth in India's pension market.
Official copy of the notification has been attached
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