{"id":315606,"date":"2024-02-29T10:30:36","date_gmt":"2024-02-29T05:00:36","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=315606"},"modified":"2024-02-29T10:48:44","modified_gmt":"2024-02-29T05:18:44","slug":"pfrda-notifies-redressal-of-subscriber-grievance-second-amendment-regulations-2024-legal-news","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2024\/02\/29\/pfrda-notifies-redressal-of-subscriber-grievance-second-amendment-regulations-2024-legal-news\/","title":{"rendered":"PFRDA decreases turnaround time for grievance redressal to 21 days"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">On 21-2-2024, the Pension Fund Regulatory and Development Authority <span style=\"font-weight: bold;\">(&#8216;PFRDA&#8217;)<\/span> notified the <span style=\"font-weight: bold;\">Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) (Second Amendment) Regulations, 2023<\/span> to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/vA6Et05m\" target=\"_blank\" rel=\"noopener\">Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015<\/a>. The provisions came into force on 21-2-2024.<\/p>\n<p style=\"font-weight: bold;\">Key Points:<\/p>\n<ol style=\"list-style-type: decimal;\">\n<li>\n<p>Now, under these Regulations <span style=\"font-weight: bold;\">&#8220;intermediary&#8221;<\/span> will also include any other employer or entity in the non-government sector which has covered its employees under the National Pension system.<\/p>\n<\/li>\n<li>\n<p>Regulation 3 relating to <span style=\"font-weight: bold;\">&#8220;Grievance Redressal Policy&#8221;<\/span> has been revised mandating:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p>every intermediary to have a board approved policy for redressal of subscriber grievances.<\/p>\n<\/li>\n<li>\n<p>to prominently place the details of internal grievance redressal mechanism along with the address and contact details of Ombudsman in public domain.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p>This amendment modifies Regulation 4 relating to <span style=\"font-weight: bold;\">&#8220;Filing of Grievance Redressal Policy&#8221;<\/span> whereby every 2-level grievance redressal policy has to be filed with PFRDA and with the National Pension System Trust <span style=\"font-weight: bold;\">(&#8216;NPS Trust&#8217;)<\/span>.<\/p>\n<p><span style=\"font-weight: bold;\">Earlier<\/span>, it was only filed with PFRDA.<\/p>\n<\/li>\n<li>\n<p>Regulation 6 relating to <span style=\"font-weight: bold;\">&#8220;Turnaround times for grievance redressal&#8221;<\/span> has been modified according to which if the grievance remains unresolved on the expiry of 21 days after its receipt at the NPS Trust, the complainant can file an appeal with the Ombudsman.<\/p>\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Earlier<\/span>, the time limit granted to NPS Trust was 30 days and after its expiration the complainant was to file only a representation with the Ombudsman.<\/p>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">On expiration of turnaround time, complainant can file appeal with the Ombudsman.<\/p>\n","protected":false},"author":67515,"featured_media":315627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[65858,16491,65317,65857],"class_list":["post-315606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-grievance-redressal-policy","tag-pension-fund-regulatory-and-development-authority","tag-pfrda","tag-redressal-of-subscriber-grievance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PFRDA (Redressal of Subscriber Grievance) (2nd Amendment) Regulations, 2023 | SCC Times<\/title>\n<meta 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