Finance Ministry invites applications for PFRDA chief post

Nov 28 2013, 02:11 IST
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SummaryThe last date for applications is December 27.

The finance ministry has invited applications for the top job at the Pension Fund Regulatory and Development Authority, days after former regulator Yogesh Agarwal quit from the post.

With a tenure of five years that can be extended until the candidate attains the age of 65, the chairperson of PFRDA will be entitled to a consolidated salary of Rs 4.5 lakh per month. However, perks of a car and accommodation are not included.

“The applicant should have a minimum of two years of potential service as on date of vacancy i.e. age must not be in excess of 63 years as on date of vacancy,” the finance ministry has said.

The last date for applications is December 27.

Eligibility criteria include knowledge and experience in economics and finance and at least 25 years of work experience leading to a senior executive or management position.

“Government servants should have worked as secretary or additional secretary to the Government of India or its equivalent level in state governments”, the ministry said adding that for private sector applicants have worked at the level of CEO or CFO or COO or equivalent level.

Further, academics should have worked at least as professor in the department or the faculty concerned. Under the PFRDA Act, 2011, the pension regulator consists of a chairperson and not more than six members, of whom at least three should be whole time members, appointed by the government. At present, Joint Secretary in the finance ministry Anup Wadhawan is acting as the interim chairman of the PFRDA. The post of chairman fell vacant on November 13 following Agarwal’s resignation.

Agarwal, who had one and half years more to go as the PFRDA chairman, resigned within days of his name not being included in the selection panel for shortlisting of whole-time members of the pension fund regulator by the finance ministry.

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