Why in News? 

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sivasubramanian Ramann as the new Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) for a tenure of five years. 

About PFRDA 

• The Pension Fund Regulatory and Development Authority (PFRDA) is a statutory body established under the PFRDA Act, 2013.  
• It functions under the aegis of the Ministry of Finance, Government of India.