Audits Comptroller & Auditor General
CAG finds pension sector governance framework lacking in key areas
This performance audit examined the governance, fund management, and subscriber protection mechanisms of key entities and schemes in India's pension sector for the period from April 2017 to March 2024.
Who it concerns: The audit concerns the Department of Financial Services, the Pension Fund Regulatory and Development Authority (PFRDA), statutory pension systems (EPFO, CMPFO, SPFO, ATEPFO), six autonomous bodies/CPSEs (CCIL, CPCL, RINL, MECON, CDLB, IIFT), and four government schemes for the unorganised sector and senior citizens (APY, PMSYM, PMKMY, PMVVY).
What the auditor found
- The audit assessed the functioning of the legal, regulatory, and institutional framework for effective governance, prudent fund management, and protection of subscribers' interests.
- The audit covered the period from April 2017 to March 2024.
- The audit was conducted between January 2022 and August 2024.
- The report evaluates three broad functional areas: Governance Framework, Fund Management, and Protection of subscribers' interests.
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The original document
Comptroller & Auditor General of India (CAG) — audit reports
Audit report · Ref. Report No. 15 of 2026 · 2026
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