PFRDA Issues Public Warning Against SALAI Holdings Pvt. Ltd. and SMART Society

The Pension Fund Regulatory and Development Authority (PFRDA) has issued a public notice cautioning citizens against dealing with SALAI Holdings Private Limited and SMART Society in connection with pension-related investment schemes.

According to information received from police authorities, these entities—reportedly established by Mr. Narengbam Samarjit Singh and his associates—have been collecting deposits from individuals. The deposits are reportedly accepted after issuing a “membership dividend claim book” and receipt memos through SMART Society, with assurances of monthly interest payments on the deposited amounts.

Entities Not Registered Under PFRDA

PFRDA has clarified that SALAI Holdings Pvt. Ltd., SMART Society, and their associated subsidiaries or agencies are not registered under the PFRDA Act, 2013 for carrying out activities related to pension investments.

The authority has therefore advised the general public to exercise caution and avoid any financial dealings or submission of documents to these organizations, their affiliates, or their representatives.

Individuals interested in investing in the National Pension System (NPS) or other pension schemes regulated by PFRDA should only transact with entities that are officially registered with the regulator as intermediaries.

The list of authorized intermediaries can be accessed through the official PFRDA website. Information about the National Pension System is also available on the website of NPS Trust.

Public Advised to Remain Vigilant

PFRDA has emphasized that it will not be responsible for any financial or other losses suffered by individuals who choose to deal with unauthorized entities or persons claiming to offer pension-related investments.

Any transactions with such organizations are undertaken entirely at the individual’s own risk.

Report Suspicious Approaches

The authority has also urged members of the public to report immediately if they are approached by these entities or their representatives for pension-related investments.

Such incidents may be reported to:

• PFRDA, or
• Local law enforcement agencies

Issued in Public Interest

The public notice has been issued in the interest of safeguarding investors and preventing fraudulent pension investment schemes.

Citizens are advised to verify the authenticity and regulatory status of any organization offering pension-related investment products before making contributions.

View PFRDA Notice: