The Pension Fund Regulatory and Development Authority has notified the Subscriber Education and Protection Fund (Amendment) Regulations 2023, to strengthen the framework for creating awareness among existing and potential subscribers.
The amendments empower the SEPF committee to recommend relevant activities aimed at promoting subscribers' education, awareness and protection and safeguarding their interests, the PFRDA said in a statement on Monday.
These steps towards increasing financial literacy in the country will not only lead to better protection of the subscribers but also help in catching them young and fulfilling the vision of a pensioned society, it said.
The above simplification is in line with the Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business.
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