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Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) ProjectSECTION I – IMPORTANT DATES AND TIMELINESS.No.Description of Information /Information / RequirementRequirement1. EOI Reference NumberPFRDA/2022-23/IT/022. Project n and Maintenance services forPFRDA Technology Architecture (TARCH)Project3. Date of Issue of EOI27-06-20224. Website to download h/app5. Last date for receipt of queries, ifany04-07-20226. Publishing of response to pre-bidqueries on the Website12-07-20227. EOI Fee (Non-Refundable)Rs. 25,000/- (Twenty-five thousand only) in theform of Demand Draft or Banker’s Cheque infavor of PFRDA, NEW DELHI.8. Last date (deadline) for receipt ofEOI Fee (Demand Draft) and EOIresponse19-07-2022 up to 15:00 hours9. Place, Time and Date of opening ofthe proposals received in responseto the EOI notice19-07-2022, 16:00 hours onwardsVenue: Pension FundDevelopment Authority,RegulatoryandB-14/A, Chatrapati Shivaji Bhawan, QutabInstitutional area, New Delhi-11001610. Primary Contact person for EOIDr Shilpa VijaivargiaEmail: it-projmgr@pfrda.org.in11. Contact Person (Alternate) for EOISh. Balaji BEmail: balaji.b@pfrda.org.inSh. Girraj YadavEmail: girraj.yadav@pfrda.org.inPENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY9

Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) Project12. Contact details of Chief GeneralManager (Project-TARCH)13. Address for Communication /Submission of BidsShri K Mohan Gandhik.mohangandhi@pfrda.org.inChief General Manager (Project-TARCH)Pension Fund Regulatory and DevelopmentAuthority,B-14/A, Chatrapati Shivaji Bhawan, QutabInstitutional area, New Delhi-110016Ph: 011-26517501 /503PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY10

Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) ProjectSECTION II – INTRODUCTION2.1 About PFRDA1.Pension Fund Regulatory and Development Authority is a statutory body, whichoperates within the legal framework of PFRDA Act, 2013, with an objective topromote old age income security by establishing, developing and regulating pensionfunds, to protect the interests of subscribers to schemes of pension funds and formatters connected therewith or incidental thereto.2.The Pension Fund Regulatory and Development Authority Act (23 of 2013) (“thePFRDA Act/ the Act”) was passed on 19 September 2013 by the Parliament of Indiaand the same was notified on 1 February 2014 in the Gazette of India. PFRDA isregulating the National Pension System (“NPS”), subscribed by the employees ofGovt. of India, State Governments and by employees of privateinstitutions/organizations & unorganized sectors. Later, in the year 2015, agovernment-backed minimum guarantee pension scheme named “Atal PensionYojana” (“APY”), primarily targeted at the unorganized sector, was launched by theGovernment of India on 09 May 2015 and the administration of the scheme has beenhanded over to PFRDA.3.In its consistent endeavor to uphold the mandate given by the Government of India,PFRDA, has evolved standards of transparency and accountability over the period oftime. It follows a consultative approach while framing regulations with activeparticipation from all the stakeholders, adopted from best practices followed in theglobal regulatory spectrum and adheres to the principles of natural justice in all itsenforcement actions.4.Among others, powers and functions of the PFRDA include:a.regulating the NPS and the pension schemes to which this Act applies;b.approving the schemes, the terms and conditions thereof and laying downnorms for the management of the corpus of the pension funds, includinginvestment guidelines under such schemes;c.registering and regulating intermediaries;d.issuing to an intermediary, on application, a certificate of registration andrenewing, modifying, withdrawing, suspending or cancelling suchregistration;e.protecting the interests of subscribers by—i.ensuring safety of the contribution of subscribers to various schemes ofPENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY11

Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) Projectpension funds to which this Act applies;ii.ensuring that the intermediation and other operational costs under theNational Pension System are economical and reasonable;f.establishing mechanism for redressal of grievances of subscribers to bedetermined by regulations;g.promoting professional organizations connected with the pension system;h.adjudication of disputes betweenintermediaries and subscribers;i.collecting data and requiring the intermediaries to collect such data andundertaking and commissioning studies, research and projects;j.undertaking steps for educating subscribers and the general public on issuesrelating to pension, retirement savings and related issues and training ofintermediaries;k.standardizing dissemination of information about performance of pensionfunds and performance benchmarks;l.regulating the regulated assets;m.levying fees or other charges for carrying out the purposes of this Act;n.specifying by regulations the form and manner in which books of accountshall be maintained and statement of accounts shall be rendered byintermediaries;o.calling for information from, undertaking inspection of, conducting inquiriesand investigations including audit of, intermediaries and other entities ororganizations connected with pension funds;p.exercising such other powers and functions as may be prescribed.PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITYintermediariesandbetween12

Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) Project5.PFRDA’s Functional SetupDIAGRAMMATIC REPRESENTATION OF PFRDA’S FUNCTIONAL SETUP PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (PFRDA)PFRDA is responsible for registration of various intermediaries in the system such asCentral Record Keeping Agencies (CRAs), Pension Funds (PFs), Point of Presence (POPs),Custodian, Trustee Bank, etc. PFRDA has a significant role to play in safeguarding theinterest of the subscribers. It regulates the manner in which each intermediary functionunder the NPS architecture so as to ensure fair play for subscribers. It also ensures thatall stakeholders/ intermediaries comply with the PFRDA Act/ Guidelines/ Regulations/Circulars issued by PFRDA from time to time. NATIONAL PENSION SYSTEM TRUSTNational Pension System Trust (NPST) is established by PFRDA under the provisions of theIndian Trusts Act of 1882 for taking care of the assets and funds under the NPS in the bestinterest of the subscribers. The powers, functions and duties of NPS Trust are laid downunder the PFRDA (National Pension System Trust) Regulations 2015, besides theprovisions of the Trust deed dated 27 February 2008. NPS Trust is the registered ownerof all assets under the NPS architecture which is held for the benefit of the subscribers ofthe NPS. The securities are purchased by Pension Funds on behalf of, and in the name ofthe NPS Trust, however individual NPS subscriber remains the beneficial owner of thePENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY13

Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) Projectsecurities, assets and funds. NPS Trust, under the NPS Trust Regulations, is responsiblefor monitoring the operational and functional activities of NPS intermediaries’ viz.Custodian, Pension Funds (PFs), Trustee Bank, Central Recordkeeping Agency(CRA)activities related to exit and withdrawal and that of IRDAI registered Annuity ServiceProviders (empaneled with PFRDA) and also for providing directions/advisories to PF(s)and other intermediaries for protecting the interest of subscribers, ensuring compliancethrough audit by Independent Auditors, performance review of Pension Funds etc. CENTRAL RECORDKEEPING AGENCY (CRA)It is an agency appointed by PFRDA to perform the functions of recordkeeping, accountingand administration for subscribers. The recordkeeping, accounting and administrationfunctions for all subscribers of the National Pension System are centralized andperformed by the CRA. The CRA is responsible for receiving instructions from NodalOffices/PoPs and subscribers etc. through CRA web system, transmitting such instructionsto the appointed Trustee Bank and Pension Fund to act accordingly. The CRA monitorssubscriber contributions and instructions and transmits information to the Trustee Bankand relevant Pension Fund on a regular basis. The CRA provides periodic, consolidatedPRAN statements to each subscriber and has hosted the eNPS online platform on behalfof NPS Trust. There are three CRAs currently. TRUSTEE BANKThe Trustee Bank is appointed by PFRDA for providing banking services to the NPSarchitecture. The Trustee Bank receives funds from various nodal offices/PoPs, reconcilesthe funds received with the subscriber details provided by CRA, transfers funds to PFs andAnnuity Service Providers (ASPs) based on instruction given by the CRA. Axis bank is theregistered Trustee Bank currently. PENSION FUNDS (PF)(a) Pension Funds (PFs) are appointed/registered by PFRDA to manage the pensioncontributions of all subscribers under NPS through various schemes mandated by PFRDA.Subscribers have the option to select the PFs and allocate their contributions in one ormore schemes of the PFs. The PFs are responsible for investment of NPS contributions indifferent asset classes. The terms and conditions of registration for PFs and their dutiesand functions are contained under Regulation 12 and 22 respectively of the PFRDA(Pension Fund) Regulations, 2015.(b) On a broader perspective, PFs are required to undertake the investment managementof the schemes and make investment management decisions within the schemeobjectives as per the investment guidelines and instructions specified by PFRDA. PFs arePENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY14

Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) Projectrequired to optimize the return on the investments of the funds of the subscribersdeployed by it and exercise all due diligence in carrying out its duties and in protectingthe rights and interests of the subscribers. CUSTODIANCustodian of Securities means an entity which has been granted a certificate ofregistration under sub-section (3) of section 27 of the Act by the Authority as a Custodianof securities for the purpose of providing custodial and depository participant services forthe pension schemes regulated by the Authority.Pension Fund Regulatory and Development Authority (Custodian of Securities)Regulations, 2015 were notified on 14th May, 2015 and the Custodian of Securities hasto abide by these regulations including any amendments thereunder.Custodian undertakes activities as a Domestic Depository in terms of the Depositories Act,1996 (22 of 1996) or as permitted by the Securities and Exchange Board of India; POINT OF PRESENCE (POP)POP is the first point of interaction between the subscriber and the NPS architecture.Point of Presence (POP) performs the functions relating to registration of subscribers,undertaking Know Your Customer (KYC) verification, receiving contributions andinstructions from subscribers and transmission of the same in the NPS architecture. PoP(s)and their authorized branches (PoP-SPs) are also required to comply with the provisionsof the Prevention of Money Laundering (PML) Act, 2002 and the rules framed thereunder,as may be applicable from time to time.Points of Presence have been appointed under PFRDA (Point of Presence) Regulations,2018 or PFRDA (Point of Presence) Regulations, 2015 or PFRDA (Aggregator) Regulations,2015 for performing any one or more of the following activities:i.ii.iii.iv.v.vi.National Pension System (NPS) – Distribution and servicing for public at largethrough physical as well as online platforms;National Pension System (NPS) – Distribution and servicing for citizens at largethrough online platforms only;National Pension System (NPS) – Distribution and servicing only for ownemployees and other personnel either through physical or online platforms;NPS- Lite - Swavalamban scheme;Atal Pension Yojana;Any other scheme regulated or administered by Authority.PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY15

Design, Development/Customization, Implementation and Maintenance services for PFRDATechnology Architecture (TARCH) Project2.2 STAKEHOLDERS OF NPSNational Pension System has a variety of stakeholders such as NPS Trust, Pension funds, CentralRecordkeeping Agencies, Custodian, Trustee Bank, Points of presence, Annuity Service,Retirement Advisors performing a definite role for the benefit of subscribers.2.3 ABOUT PFRDA CURRENT IT STATEPFRDA’s own assessment of current technology landscape is that most operations currently aremanual in nature, and digitization is partial. In this regard PFRDA has decided to digitize andautomate its current operations through Technology

Expression of Interest in the form of proposal in response to the EOI Notice. Submission of a proposal in response to this notice shall be deemed to have been done after careful study and examination of this document with full understanding of its terms, conditions and implications. This EOI document is not transferable. 3.