Chairman Sivasubramanian Ramann Says PFRDA Aims To Increase Pension Adoption Beyond Government Workers

The Pension Fund Regulatory and Development Authority (PFRDA) is working to expand pension coverage to private sector employees, moving beyond its traditional focus on government workers, Chairman Sivasubramanian Ramann said.

The regulator is strengthening the distribution of pension products and introducing flexible options to suit different income levels. Speaking at the launch of Pensionbazaar, a pension marketplace under PB Fintech Ltd., Ramann said the pension sector has shifted from defined benefit to defined contribution plans. He added that PFRDA has established the ecosystem of collection agencies, pension funds, and record-keeping agencies, providing the digital infrastructure needed for growth.

PB Fintech Founder and Chief Executive Officer (CEO) Yashish Dahiya said the company plans to invest in its pension business, aiming to make pensions a significant category alongside health.