Description
Retirement Adviser is a comprehensive, practice-oriented resource designed to equip aspiring individuals with the knowledge framework mandated under the Pension Fund Regulatory and Development Authority (PFRDA) Regulations, 2016. Developed by the National Institute of Securities Markets (NISM), this workbook establishes a uniform knowledge benchmark for individuals offering professional retirement advisory services. Drawing on regulatory expectations, product structures, compliance standards, and advisory workflows, the book provides a comprehensive foundation in retirement planning—from core concepts to product selection, risk understanding, operations, and service delivery. It is aligned to the syllabus of the NISM Retirement Adviser Certification Examination and reflects the competencies required to guide subscribers effectively and ethically. It covers fundamental retirement planning concepts, retirement planning products and strategies, fund performance evaluation, the National Pension System (NPS), compliance norms, operational responsibilities, and service obligations for a licensed Retirement Adviser.
This book is intended for the following audience:
Individuals, Partners, Proprietors & Representatives seeking registration as Retirement Advisers under PFRDA Regulations 2016
Financial Planners, Wealth Managers &Investment Advisers involved in long-term retirement planning and pension solutions
NPS-focused Professionals looking to deepen their understanding of onboarding, compliance, product suitability, and subscriber servicing
Employees of Intermediaries functioning within pension ecosystems (POPs, pension funds, aggregators, etc.)
Students & Aspirants preparing for the NISM XVII certification to enhance professional credentials
Banks, Insurance Distributors & Financial Inclusion Professionals who handle retirement-related customer engagement
The Present Publication is the June 2025 Workbook Version, developed in collaboration with the Certification Team of NISM and Sunita Abraham. This version of the book has been reviewed by Jitendra Solanki. It is published exclusively by Taxmann, with the following noteworthy features:
[Complete Coverage] of the Retirement Adviser Certification Examination, ensuring complete exam relevance
[Advisory Lifecycle Coverage] Including awareness building, onboarding, advisory responsibilities, compliance, reporting, and subscriber servicing
[Structured Retirement Planning] using a structured, real-world approach, including goal-based planning, contribution strategies, risk considerations, and product fitment
[Comprehensive NPS Module] including subscriber registration, fund choices, asset allocation, forms, reporting, and operational frameworks
[Compliance-focused Insights] aligned with PFRDA guidelines—Code of Conduct, KYC/AML obligations, conflict-of-interest norms, confidentiality requirements, and fraud prevention, as detailed in the regulations section
[Practical Guidance] on fund evaluation, NAV interpretation, market trends, and portfolio monitoring—core elements for subscriber guidance
[Operational Resources] such as NPS forms for NRIs (Annexure) with detailed instructions for use
The workbook’s content spans the full spectrum of knowledge required of a Retirement Adviser, including:
Retirement Planning Fundamentals
Purpose, importance, and financial independence
Understanding longevity, inflation, corpus-building, and lifecycle investing
Retirement Planning Products
Comprehensive review of India’s retirement product landscape
Comparative analysis of NPS vs. other pension instruments
NPS Framework in Detail
Subscriber onboarding process, forms, documentation, and KYC
Pension funds, asset classes, investment choices, annuity mechanisms
Fee structures, service standards, intermediaries, and operational workflows
Advisory Responsibilities Under PFRDA
Includes obligations such as:
Creating awareness of NPS and other pension schemes
Advising on contributions, fund selection, and portfolio monitoring
Ensuring compliance with KYC, AML, and CFT norms
Maintaining confidentiality and managing conflicts of interest
Fund Evaluation & Market Concepts
Understanding NAV, asset allocation shifts, and market movements
Evaluating pension fund performance through regulatory disclosures
Compliance, Controls & Reporting
Internal control frameworks and fraud-prevention mechanisms
Reporting duties toward PFRDA
Operations & Service Delivery
Subscriber communication, updates, changes in guidelines, and servicing norms
Process flows for modifying details, exiting or withdrawing, and fund switching, etc.
Annexures & Practical Forms
NPS forms (including forms for NRIs) along with detailed instructions
The workbook follows a concept-to-practice progression:
Conceptual Foundation – Core theory on retirement needs, planning principles, and financial reasoning
Product Landscape – Detailed coverage of NPS and all relevant retirement instruments
Advisory Process – Step-by-step understanding of subscriber needs, product suitability, and advisory decision-making
Compliance & Regulation – In-depth discussion of PFRDA Regulations, Code of Conduct, obligations, and reporting
Operational Guidance – Hands-on sections with forms, processes, checklists, and practical scenarios
Annexures – Practical forms, regulatory extracts, and supplementary reading
This structured approach ensures that learners progress from fundamental knowledge to advanced operational proficiency
