Finance Ministry Sets Up Forum for Pension Regulatory Coordination and Development

Last updated: 27 August 2025

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The Ministry of Finance has launched a new Forum for Regulatory Coordination and Development of Pension Products. This initiative aims to harmonise pension regulations, enhance consumer protection, and foster growth in the pension market. The forum, chaired by the Secretary of the Department of Financial Services, includes representatives from various government departments and financial regulators.

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.

Pension Regulatory Forum Launched by Finance Ministry

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

FAQ :

The forum is established to streamline pension regulations, strengthen consumer protection, and promote market growth by harmonising regulatory practices and aligning investment standards.

The Forum will be chaired by the Secretary of the Department of Financial Services (DFS), Ministry of Finance.

Members include senior officials from the Department of Economic Affairs, Ministry of Corporate Affairs, Ministry of Labour & Employment, Ministry of Coal, Department of Revenue, RBI, SEBI, PFRDA, IRDAI, IFSCA, and EPFO.

Key responsibilities include ensuring regulatory consistency, facilitating pension product portability, strengthening consumer protection, driving product innovation, and raising subscriber awareness.

The decision was notified on August 25, 2025.

This move is expected to create a more secure and efficient pension ecosystem, empowering subscribers and encouraging sustainable growth in India's pension market.

Attached File : 671907_25311_265715.pdf

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