Commissioner upper age restriction has been raised to 70 years by Pension plan Regulatory and Development Authority (PFRDA), a 5-year rise. The Pension Fund Regulatory and Development Authority (New alignment of Subscriber Complaints) Rules of 2015, which established the age restriction, stated that the maximum age was 65. In a notification dated March 27th, the PFRDA updated that rule by increasing the Ombudsman’s maximum age from 65 to 70 years old.
The announcement said that these rules might be known as the Pension Fund Regulatory and Development Authority (Justice ” of Subscriber Complaints) (Change) Rules, 2023. It said that these will take effect the day after they were published in the state notification. The PFRDA designated Commissioner receives, analyzes, and assists in the settlement of complaints or problems that come under the coverage of the rules. A Commissioner is appointed for a position that lasts three years, with the possibility of a second two-year appointment.
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