The Department of Financial Services (DFS), which functions under the finance ministry, is examining a proposal to bring all unregulated retirement funds under the purview of the Pension Fund Regulatory and Development Authority (PFRDA).
DFS is looking at forming a panel to look into the matter and study the scale of unregulated superannuation funds in the country to protect subscribers' interest.
"There is a proposal to have a single regulator for superannuation funds. It is difficult to say how many such funds are there across the country," said a government official.
