Who is Sivasubramanian Ramann, the new PFRDA Chairperson?
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Synopsis
Sivasubramanian Ramann has taken over as the new Chairperson of the PFRDA. His extensive experience in public finance positions him to significantly impact India's pension landscape. This article explores his professional journey and the challenges ahead for India's pension system.
Key Takeaways
- Sivasubramanian Ramann is appointed as the new PFRDA Chairperson.
- He brings extensive experience from various leadership roles in the financial sector.
- The NPS is a key component of India's pension system, supporting millions of citizens.
- India's demographic shift necessitates robust pension strategies.
- Ramann's leadership is expected to enhance retirement security.
New Delhi, June 20 (NationPress) Sivasubramanian Ramann officially took on the role of Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) on Friday, as reported by the Finance Ministry.
His appointment spans a duration of five years, starting from the date he assumed the position or until he reaches the age of 65, or until further notice, whichever occurs first, the statement indicated.
Ramann, an officer from the Indian Audit and Accounts Service (IA&AS) of the 1991 batch, has an extensive background in public finance.
Before stepping into his new role at PFRDA, he held positions such as Deputy Comptroller and Auditor General and Chief Technology Officer in the Office of the Comptroller and Auditor General of India.
The ministry highlighted that his previous roles include Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI), Managing Director and Chief Executive Officer of National E-Governance Services Ltd. (NeSL), and Principal Accountant General for the State of Jharkhand.
From 2006 to 2013, he also served as Chief General Manager (CGM) and later as Executive Director at the Securities and Exchange Board of India (SEBI).
Ramann is an alumnus of the University of Delhi, where he earned a Bachelor's degree in Economics and an MBA, along with several other professional and academic credentials.
The ministry remarked, “Given his extensive experience in public finance, technology, and financial regulation, Ramann is set to steer PFRDA towards enhancing India’s pension framework and ensuring retirement security for the populace.”
Additionally, the National Pension System (NPS) has become a fundamental aspect of India's pension landscape, boasting an accumulated corpus of Rs 14.4 lakh crore and 8.4 crore subscribers under both NPS and the Atal Pension Yojana (APY), as mentioned by PFRDA chairman Deepak Mohanty at an event in April.
Pankaj Chaudhary, the Minister of State for Finance, emphasized that as India’s demographic dynamics evolve rapidly, with projections indicating that 19% of the population will be elderly by mid-century, achieving financial independence through inclusive pension schemes is not just a target, but an essential requirement for the nation.
Point of View
I believe Ramann's appointment is a strategic move for PFRDA. His expertise in finance and technology will be crucial in adapting India's pension schemes to meet the needs of an evolving demographic. The challenges ahead are significant, but with the right leadership, we can ensure a more secure retirement for our citizens.
NationPress
20/06/2025
Frequently Asked Questions
What is the role of the PFRDA?
The PFRDA is responsible for regulating and developing the pension sector in India, ensuring that citizens have access to secure retirement options.
How long will Ramann serve as Chairperson?
Sivasubramanian Ramann has been appointed for a tenure of five years or until he turns 65 years old, whichever comes first.
What is the significance of the National Pension System?
The National Pension System is vital for providing a structured and regulated pension framework, with Rs 14.4 lakh crore accumulated and millions of subscribers aiming for financial security in retirement.
