Section 20 in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
20. The central recordkeeping agency shall provide the following functional architecture as per the service requirements of various stakeholders, namely:
-(a)the central recordkeeping agency interface. - This function of the central recordkeeping agency primarily arises due to its interfacing requirements associated with the service delivery needs to various stakeholders. The functional architecture shall permit transactions of all types to be undertaken by customers and entities such as Permanent Retirement Account Number account opening, pension fund transfer information, switching investment preference, registering grievances, and other activities. The system shall be vastly scalable, secure and reliable and should have the necessary structure for incorporating future requirements associated with service delivery by the intermediaries under the National Pension System;(b)the central recordkeeping agency activities. - In order to ensure delivery of the services it shall take up necessary activities for processing the information obtained from stakeholders. These activities include, but not limited to, consolidated contribution and switching, instruction, Permanent Retirement Account Number, account generation, compile retirement information, trustee account reconciliation, post fund returns. The functional architecture shall have the provision for adding any additional stakeholder instruction into the overall structure as per the requirements of the Authority;(c)the central recordkeeping agency data. - It shall maintain a repository of data to support interfacing requirements and activities under the National Pension System. This includes maintaining amongst other, data relating to subscribers, accounting, investment, pension contribution, pension funds scheme performance, Trustee Bank communication, participating states ,organizations, pension funds and annuity service providers;(d)modification of role, function or functional parameters. - The Authority may modify the role, functions or operational parameters of the central recordkeeping agency as may be specified by it through circular or guideline or notification.
