Pension regulator scouts for advisors

The Pension Fund Regulatory and Development Authority (PFRDA) is scouting for institutional advisors to help the regulator in framing guidelines for the pension sector.

“They will advice us on the technical aspects and provide assistance in framing rules and regulations,” said an official with the regulator.

The regulator had already invited request for proposal (RFP) from entities with experience in the pension sector, said the official.

The intention, he said, was to come out with guidelines soon after the passage of the PFRDA Bill by parliament.

The advisors need to have past experience in pension and retirement benefits sector and in providing assistance in implementing related projects among others.

“PFRDA will award the contract to the successful bidder whose proposal has been determined to be substantially responsive and has been determined as the best value proposal,” he said.

The last date for submission of proposals is September 10, while the name of selected bidder would be announced on September 16.

The timeframe for the completion of providing technical inputs is three months from the date of start of engagement by the PFRDA.