Overview
- The committee is chaired by M. S. Sahoo, former IBBI chief, and includes experts across law, actuarial science, finance, insurance, capital markets and academia.
- It has a mandate to define operational standards such as lock-in periods, withdrawal limits, pricing mechanisms and fee structures for providers.
- The panel will develop risk controls covering capital and solvency requirements and will examine legal models like novation and settlement to make guarantees enforceable.
- Standardized disclosures to prevent mis-selling and clear guidance to manage subscriber expectations are part of the consumer-protection brief.
- The group can invite external specialists for consultations and will also study tax treatment for payout options that keep subscribers within the NPS architecture, as PFRDA continues outreach and product initiatives including Pensionbazaar and recent NPS reforms.