PFRDA Grade A (Assistant Manager) Syllabus Breakup: Focus on Financial and Pension Sector
Below is a detailed breakup of the syllabus, with a strong emphasis on financial sector (e.g., Finance, Economics, Commerce & Accountancy, Costing, and Companies Act) and pension sector topics. These are drawn from official patterns and standard preparations for the 2025 exam. Topics are structured by subject for clarity, with exam-oriented notes on weightage, key focus areas, and relevance to PFRDA’s role in regulating pensions and financial retirement products.
Exam Pattern Overview for Paper 2 (Relevant to Financial/Pension Sector)
| Phase 1 Paper 2 | 50 MCQs, 100 Marks, 40 Minutes, Qualifying in Nature |
| Phase 2 Paper 2 | For General Stream – Descriptive (3 questions of 10 marks each) + MCQs, 100 Marks, 40 Minutes (MCQs) + 60 Minutes (Descriptive) |
| Cut-off | Aggregate 40% for General/OBC; 35% for SC/ST/PwBD |
| Negative Marking | 1/4th mark deducted for wrong answers in MCQs |
| Relevance | Emphasizes regulatory knowledge, financial markets, economic policies, and pension schemes like NPS and APY, aligning with PFRDA’s mandate |
Detailed Syllabus Breakup
1. Commerce & Accountancy (Financial Reporting and Analysis Focus)
This subject covers foundational financial accounting principles, crucial for understanding pension fund management and regulatory compliance in the financial sector.
| Accounting as a Financial Information System | Impact on economic decisions |
| Accounting Standards (with reference to Ind AS/IFRS) | Depreciation, Inventories, Revenue Recognition, Fixed Assets, Foreign Exchange Transactions, Investments |
| Cash Flow Statement and Fund Flow Statement | Preparation and analysis |
| Financial Statement Analysis | Ratio analysis (liquidity, solvency, profitability ratios) |
| Accounting for Share Capital Transactions | Bonus shares, Rights issues, Employee Stock Options (ESOPs), Buy-back of securities |
| Preparation and Presentation of Company Final Accounts | Comprehensive coverage |
Exam Tips: High weightage on ratio analysis and cash flow statements (10-15% of questions). Relevant to financial sector audits and pension fund reporting.
2. Management (Organizational and HR Aspects in Financial Institutions)
Focuses on management practices in financial and regulatory bodies like PFRDA.
| Topic | Key Details |
|---|---|
| Nature and Scope of Management | Processes (Planning, Organizing, Staffing, Directing, Controlling) |
| Role of a Manager in an Organization | Responsibilities and functions |
| Leadership | Styles, Theories, Successful vs. Effective Leader |
| Human Resource Development (HRD) | Concepts, Goals, Performance Appraisal, Potential Appraisal, Development |
| Motivation, Morale, and Incentives | Theories (Maslow, Herzberg), Factors influencing morale, Role of incentives |
| Communication | Process, Channels (Oral/Written, Verbal/Non-verbal), Barriers, Role of IT in communication |
Exam Tips: Questions often link to leadership in regulatory bodies (5-10% weightage). Financial sector relevance: HRD and motivation in pension fund operations.
3. Finance (Core Financial Sector Topics)
This is a high-weightage area (15-20%), directly testing knowledge of financial systems, markets, and policies relevant to PFRDA’s oversight of pension funds.
| Topic | Key Details |
|---|---|
| Financial System | Role and functions of regulatory bodies (e.g., RBI, SEBI, IRDAI, PFRDA) in the financial sector |
| Financial Markets | Primary and Secondary Markets (Forex, Money, Bond, Equity); Functions, Instruments, Recent developments (e.g., green bonds, digital currencies) |
| Basics of Derivatives | Forwards, Futures, Options, Swaps |
| Recent Developments in Financial Sector | FinTech, Blockchain, Crypto regulations |
| Financial Inclusion | Use of technology (e.g., UPI, digital pensions) |
| Alternate Sources of Finance | Private and social cost-benefit, Public-Private Partnership (PPP) |
| Taxation and Fiscal Policy | Direct/Indirect taxes, GST, Non-tax revenue, Finance Commission, Fiscal Responsibility and Budget Management Act (FRBM) |
| Inflation | Definition, Trends, Estimates, Consequences, Remedies; WPI, CPI components and trends |
Exam Tips: Focus on regulatory roles and recent developments (e.g., post-2023 reforms). Key for pension fund investments and financial stability.
4. Costing (Cost Management in Financial Operations)
Emphasizes cost control in financial and pension fund management (10-15% weightage).
| Topic | Key Details |
|---|---|
| Overview of Cost and Management Accounting | Objectives, Scope |
| Methods of Costing | Single/Unit Costing, Job Costing, Batch Costing, Contract Costing, Process/Operation Costing, Service Sector Costing |
| Cost Control and Analysis | Standard Costing, Marginal Costing, Budgetary Control |
| Lean System and Innovation | Just-in-Time (JIT), Kaizen, 5S, Total Productive Maintenance (TPM), Six Sigma, Business Process Re-engineering (BPR) |
Exam Tips: Marginal costing and budgetary control are frequently tested. Relevant to efficient pension fund administration.
5. Companies Act (Corporate Governance in Financial Sector)
Covers legal frameworks for companies, including pension funds (5-10% weightage).
| Topic | Key Details |
|---|---|
| Companies Act, 2013 (Chapter III) | Prospectus and Allotment of Securities |
| Companies Act, 2013 (Chapter IV) | Share Capital and Debentures |
| Companies Act, 2013 (Chapter VIII) | Declaration and Payment of Dividend |
| Companies Act, 2013 (Chapter X) | Audit and Auditors |
| Companies Act, 2013 (Chapter XI) | Appointment and Qualifications of Directors |
| Companies Act, 2013 (Chapter XII) | Meetings of Board and Shareholders |
| Companies Act, 2013 (Chapter XXVII) | National Company Law Tribunal (NCLT) and Appellate Tribunal |
Exam Tips: Focus on director appointments and audits. Critical for compliance in financial/pension entities.
6. Economics (Macroeconomic Aspects Affecting Financial/Pension Sector)
Links economic policies to financial stability and pension planning (10-15% weightage).
| Topic | Key Details |
|---|---|
| Demand and Supply, Market Structures | Basic concepts and applications |
| National Income | Concepts, Measurement, Classical/Keynesian Approaches, Determination of Output/Employment |
| Consumption Function, Investment Function, Multiplier, Accelerator | Theories and impacts |
| Money Supply and Demand | IS-LM Model, Inflation and Phillips Curve, Business Cycles |
| Balance of Payments, Foreign Exchange Markets | Key mechanisms |
| Monetary and Fiscal Policy | Tools, Impacts |
| Non-Banking Financial Institutions (NBFIs) | Role in economy |
Exam Tips: Inflation trends and fiscal policy are key. Relevant to pension investments amid economic fluctuations.
7. Pension Sector (Core PFRDA-Specific Topics)
This is the most directly relevant section (15-20% weightage), focusing on India’s pension landscape and PFRDA-regulated schemes.
| Topic | Key Details |
|---|---|
| Status of Pension Sector in India | Evolution, Coverage, Challenges (e.g., low penetration, aging population) |
| Types of Retirement Schemes | Features, Comparison (Defined Benefit vs. Defined Contribution) |
| National Pension System (NPS) | Architecture, Subscribers (Government, Corporate, All Citizens), Contribution Models, Investment Options (Equity, Debt, Govt. Securities), Tax Benefits (EET/EEE), Withdrawal Rules, Recent Amendments (e.g., 2024-25 updates) |
| Atal Pension Yojana (APY) | Eligibility, Contribution Slabs, Pension Amounts, Government Guarantee, Exit Provisions |
| Annuity Plans | Types (Immediate, Deferred), Providers, Regulations under PFRDA |
| Basics of Investment in Pension Funds | Asset Allocation, Risk-Return Profile, Fund Managers (PFMs), Point of Presence (POPs) |
| Other Schemes | Pension Funds for Unorganized Sector, Annuity Service Providers, Regulatory Framework under PFRDA Act, 2013 |
Exam Tips: Memorize NPS/APY details and recent stats (e.g., subscriber growth as of 2025). Questions often include current affairs like pension reforms.
The Pension Fund Regulatory and Development Authority (PFRDA) conducts the Grade A (Assistant Manager) recruitment exam in three phases: Phase 1 (Online Screening), Phase 2 (Online Main Exam), and Phase 3 (Interview).
The syllabus is divided into two papers per phase, with
Paper 1 being common (covering English Language, Quantitative Aptitude, Reasoning, and General Awareness including Financial Sector).
Paper 2 is stream-specific and highly relevant to the financial and pension sectors, especially for the General Stream.
It consists of multiple-choice questions (MCQs) in Phase 1 and a mix of MCQs and descriptive questions in Phase 2, testing professional knowledge.
The key subjects under Paper 2 are:
Commerce & Accountancy,
Management,
Finance,
Costing,
Companies Act,
Economics, and
Pension Sector.
Additional Notes for Exam Preparation
- Integration Across Sections: Questions may combine topics, e.g., economic policies impacting pension investments or financial regulations under Companies Act for pension funds.
- Current Affairs: Include recent developments (e.g., Budget 2025 provisions on pensions, PFRDA circulars on NPS enhancements).
- Study Resources: Official PFRDA website for notifications; Books like Indian Economy by Ramesh Singh, Financial Management by Prasanna Chandra; Practice mocks for MCQs.
- Weightage Distribution: Finance (20%), Pension Sector (20%), Economics (15%), Accountancy/Costing (20%), Others (25%).
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