BPSC – Combined Competitive Examination · Question 52

Choose the correct statement about the National Pension System (NPS):

NPS is a retirement scheme of the Government of India giving regular income to all citizens
NPS is regulated by IRDA
NPS is regulated by SEBI
NPS is regulated by the Pension Fund Regulatory and Development Authority
None of the above / More than one of the above

Show answer & explanation

Answer: (D) NPS is regulated by the Pension Fund Regulatory and Development Authority

Explanation

PFRDA (statutory under the PFRDA Act, 2013) administers and regulates NPS.

(A) Incorrect
Wrong: it is voluntary and contribution-based, not a guaranteed income for all.
(B) Incorrect
Wrong: IRDAI regulates insurance.
(C) Incorrect
Wrong: SEBI regulates securities markets.
(D) Correct
Correct: PFRDA regulates NPS.
(E) Incorrect
Wrong: only one of the options A–D is correct.