IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Reforming provident and pension fund regulation in India

  • Mukul G. Asher
  • Amarendu Nandy
Registered author(s):

    Purpose – To examine the case for reforming India's current provident and pension fund governance and regulatory structures. Design/methodology/approach – The paper reviews various components of India's social security system with a view to identifying reform needs in their governance and regulatory structures. It then assesses the new pension system to be supervised and regulated by the proposed Pension Fund Regulatory and Development Authority (PFRDA). Findings – The paper finds that the current arrangements do not provide sufficient incentives for professionalism and system-wide perspective essential to meet India's social security challenges. Urgently operationalizing the PFRDA, and modernizing the relevant laws and regulations could greatly assist in meeting India's social security challenges. Modernization of Employees Provident Fund Organization is also essential. Research limitations/implications – The analysis suggests that the need for greater professionalism and system-wide perspective should be accorded high priority by India's provident and pension fund organizations. The analysis in the paper is quite aggregative and qualitative. This underscores the need for more robust database and greater focus on empirical evidence-based policies in this area. Originality/value – The paper will provide a better appreciation of the governance and regulatory issues involved in reforming India's provident and pension funds. It will also provide a base for other researchers to identify and undertake more detailed analysis of specific aspects such as ways to internationally benchmark administration and compliance costs of provident and pension fund organizations; achieving coordination among PFRDA, banking, insurance, and capital market regulators.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:;jsessionid=392057FDE86BDB9579F1169582D56E14?contentType=Article&contentId=1563232
    Download Restriction: Cannot be freely downloaded

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Emerald Group Publishing in its journal Journal of Financial Regulation and Compliance.

    Volume (Year): 14 (2006)
    Issue (Month): 3 (July)
    Pages: 273-284

    in new window

    Handle: RePEc:eme:jfrcpp:v:14:y:2006:i:3:p:273-284
    Contact details of provider: Web page:

    Order Information: Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
    Web: Email:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:eme:jfrcpp:v:14:y:2006:i:3:p:273-284. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Louise Lister)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.