PFRDA scouting to appoint institutional advisers

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

"They will advice us on the technical aspects and provide assistance in framing regulations and rules," an official with PFRDA told PTI.

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

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

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

 

"The 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," the PFRDA said.

The last date for submission of proposals is September 10 while the name of selected bidder would be announced on September 16, 2009.

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