The government has begun searching for a successor to Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty whose term is ending in May next year. The PFRDA chairman holds office for five years or till the age of 65 years.
The chairman is entitled to a consolidated salary of Rs 5.62 lakh per month without the facility of house and car, the finance ministry said while inviting applications for the post.
As per the eligibility criteria mentioned in the public notice issued by the Department of Financial Services, the applicant should have a minimum of two years of residual service as of the last date of submission of applications.
Applicants should be a government servant and have worked as Secretary/Additional Secretary in the Government of India or its equivalent level in a State Government for at least three years, it said.
A public sector official, and has worked at least at one level immediately below the board level for at least three years or an officer in a regulatory body, and has worked at least as Executive Director or equivalent for at least three years, it said on the eligibility criteria.
Besides senior government officials, private sector employees who have worked at the level of CEO, CFO, COO or equivalent are also eligible to apply for the post. The position is also open for persons from academic backgrounds.
The appointment would be made by the central government on the recommendation of the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by the Cabinet Secretary.
The FSRASC is also free to identify and recommend any other person, on the basis of merit, who has not applied for the post. The last date for applying for the post is December 30.
PFRDA regulates the National Pension System subscribed by the government as well as private employees from organised and unorganised sectors.
PFRDA consists of a chairperson and not more than six members, of whom at least three shall be whole-time members, to be appointed by the government.
Besides, the government has also invited applications for the post of whole-time Member (Finance) and whole-time Member (Law). The upper age limit for these two positions is 62 years and the last date for submission for application is also December 30.
