Government appoints R V Verma as member of PFRDA
New Delhi: The government has appointed R V Verma as a member of the Pension Fund Regulatory and Development Authority (PFRDA). ‘Verma has been appointed as Whole-Time Member (Finance) in the PFRDA’, notified the Finance Ministry. At present, he is a Chairman and Managing Director of National Housing Bank, the regulator for housing finance companies.
The PFRDA consists of a chairperson and at least three whole-time members. The chairperson and every whole-time member would hold office for a term of five years and would be eligible for reappointment. The age limit for chairperson is 65 years, while for whole-time members it is 62 years. The PFRDA was established by the government in August 2003 to promote old age income security. It started establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds.