Sivasubramanian Ramann Takes Charge as New Chairperson of PFRDA
New Leadership at PFRDA
New Delhi, June 20: Sivasubramanian Ramann has officially taken over as the Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), as announced by the Finance Ministry on Friday.
His appointment is for a period of five years, effective from the date he assumes the role, or until he reaches the age of 65, or until further notice, whichever comes first, according to the statement.
Ramann is a member of the 1991 batch of the Indian Audit and Accounts Service (IA&AS).
Before his role at PFRDA, he was the Deputy Comptroller and Auditor General and also served as the Chief Technology Officer in the Office of the Comptroller and Auditor General of India.
His extensive experience includes leadership roles such as Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI), Managing Director and CEO of National E-Governance Services Ltd. (NeSL), and Principal Accountant General for Jharkhand.
From 2006 to 2013, he held the position of Chief General Manager (CGM) and later Executive Director at the Securities and Exchange Board of India (SEBI).
Ramann holds a Bachelor's degree in Economics and an MBA from the University of Delhi, along with various professional and academic credentials.
The ministry highlighted that with his extensive background in public finance, technology, and financial regulation, Ramann is expected to lead PFRDA in enhancing India's pension framework and ensuring retirement security for all citizens.
Additionally, the National Pension System (NPS) has become a fundamental part of India's pension landscape, boasting an accumulated fund of Rs 14.4 lakh crore and 8.4 crore subscribers, as noted by PFRDA chairman Deepak Mohanty during an event in April.
Minister of State for Finance, Pankaj Chaudhary, emphasized that with 19% of the population expected to be elderly by mid-century, achieving financial independence through inclusive pension schemes is essential for the nation.