PFRDA Grade A Syllabus 2025, Exam Pattern for Phase 1 & 2

The Pension Fund Regulatory and Development Authority (PFRDA) is conducting the Grade A Exam 2025 for Assistant Manager posts. The notification has already announced the exam dates: Phase 1 on 6th September 2025 and Phase 2 on 6th October 2025. With only a few months left, aspirants must know the syllabus and exam pattern in detail. This is the first step to building a strong preparation plan.

PFRDA Grade A Exam Pattern 2025

The PFRDA Grade A exam is conducted in three stages—Phase 1 (Prelims), Phase 2 (Mains), and Interview. Both Phase 1 and Phase 2 carry 200 marks each, with negative marking of ¼ mark for wrong answers. Phase 1 is qualifying, while Phase 2 and Interview decide the final merit. The syllabus covers English, Quantitative Aptitude, Reasoning, General Awareness, and Professional Knowledge, along with descriptive English in Phase 2. The exam pattern is divided into two phases. Phase 1 tests aptitude and awareness, while Phase 2 tests descriptive writing and subject knowledge.

Phase 1 Exam Pattern (General Stream)

• Paper 1: English Language, Quantitative Aptitude, Reasoning, General Awareness (80 questions, 100 marks, 60 minutes).
• Paper 2: MCQs on Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics, and Pension Sector (50 questions, 100 marks, 40 minutes).

Candidates must clear sectional and overall cut‑offs to qualify for Phase 2.

Phase 1 Exam Pattern (Specialized Streams)

For IT, Finance & Accounts, Research (Economics/Statistics), Legal, and Official Language streams:

• Paper 1: English, Quant, Reasoning, General Awareness (same as General stream).
• Paper 2: MCQs on specialized subject related to the stream (50 questions, 100 marks, 40 minutes).

Phase 2 Exam Pattern (General Stream)

• Paper 1: English (Descriptive Test – Essay, Precis, Comprehension) – 3 questions, 100 marks, 60 minutes.
• Paper 2: MCQs on Commerce, Accountancy, Management, Finance, Costing, Companies Act, Economics, and Pension Sector – 50 questions, 100 marks, 40 minutes.

Phase 2 Exam Pattern (Specialized Streams)

• Paper 1: English (Descriptive Test – Essay, Precis, Comprehension) – 3 questions, 100 marks, 60 minutes.
• Paper 2: MCQs on specialized subject related to stream – 50 questions, 100 marks, 40 minutes.

PFRDA Grade A Syllabus 2025 – Phase 1

Phase 1 covers aptitude, reasoning, English, general awareness, and professional knowledge.

English Language

• Cloze Test
• Grammar & Error Spotting
• Reading Comprehension
• Para Jumbles & Rearrangement
• Sentence Improvement
• Synonyms & Antonyms
• Idioms & Phrasal Verbs
• Double Fillers
• One‑word Substitution

Quantitative Aptitude

• Ratio & Proportion, Percentage
• Profit & Loss, Time & Distance
• Simple & Compound Interest
• Average & Ages, Time & Work
• Pipes & Cistern, Partnership
• Mixture & Alligation
• Series & Quadratic Equations
• Inequalities, Number Series
• Data Interpretation
• Simplification/Approximation
• Quantity Comparisons

Reasoning

• Alphanumeric Series
• Seating Arrangement & Puzzles
• Input‑Output
• Coding‑Decoding
• Syllogism
• Blood Relations
• Ranking & Order
• Direction Sense
• Inequality
• Critical Reasoning
• Data Sufficiency

General Awareness

• National & International News, Summits, MoUs
• Financial & Economic Awareness
• RBI & SEBI Notifications
• Military Exercises
• Important Days & Themes
• Persons in News (Appointments, Retirements, Obituaries)
• Sports Tournaments & Winners
• National Parks, Sanctuaries, Airports, Stadiums
• Organisations’ Headquarters, Banks’ Taglines
• Power Plants, Indian Dance Forms
• Cabinet Ministers, Environment, Government Schemes
• Science, Technology, Space Developments
• Awards & Honours
• Reports, Books & Authors

Professional Knowledge (General Stream)

Commerce & Accountancy:

• Accounting Standards
• Cash Flow Statement
• Share Capital Transactions
• Employee Stock Options & Buyback
• Company Final Accounts

Management:

• Role of Manager
• HR Development
• Motivation & Communication
• Leadership Styles

Economics:

• Demand & Supply, Market Structures
• Inflation, Monetary & Fiscal Policy
• Foreign Exchange Markets
• National Income, Balance of Payments

Costing:

• Cost & Management Accounting
• Methods of Costing
• Cost Control & Analysis
• Lean Systems & Innovation

Pension Sector:

• Pension Sector in India
• Retirement Schemes
• National Pension System
• Atal Pension Yojana
• Annuity Plans
• Basics of Investment

Finance:

• Financial System & Markets
• Companies Act, 2013
• Basics of Derivatives
• Financial Inclusion

PFRDA Grade A Syllabus 2025 – Phase 2

Phase 2 includes descriptive English and subject‑specific MCQs.

Paper 1: English (Descriptive)

• Essay Writing on economy, finance, social issues
• Precis Writing (condensing passages)
• Reading Comprehension (finance/economics passages)

Paper 2: General Stream Subjects

Commerce & Accountancy:

• Accounting Standards (Depreciation, Inventories, Revenue Recognition)
• Cash Flow & Fund Flow Statements
• Ratio Analysis
• Share Capital Transactions
• Employee Stock Options & Buyback
• Company Final Accounts

Management:

• Planning, Organizing, Staffing, Directing, Controlling
• Leadership Theories & Styles
• HRD Concepts & Goals
• Motivation & Morale Theories
• Communication Process & Barriers

Finance:

• Role of Regulatory Bodies
• Primary & Secondary Markets
• Derivatives (Forward, Futures, Swaps)
• Financial Inclusion & Technology
• PPP Models, FRBM Act
• Inflation & Remedies

Costing:

• Methods of Costing (Job, Batch, Process, Service)
• Cost Control (Standard, Marginal, Budgetary)
• Lean Systems (JIT, Kaizen, Six Sigma)

Companies Act:

• Specific chapters of Companies Act, 2013

Economics:

• National Income Concepts
• Keynesian & Classical Theories
• IS‑LM Model
• Inflation & Phillips Curve
• Balance of Payments
• Monetary & Fiscal Policy

Pension Sector:

• National Pension System
• Atal Pension Yojana
• Retirement Schemes
• Annuity Plans
• Investment Basics

Specialized Streams (Phase 2)

• IT: Database, SQL, Programming, Algorithms, Networking, Cyber Security, Data Warehousing, Python/R.
• Research (Economics/Statistics): Probability, Econometrics, Sampling, Hypothesis Testing, Time Series, Operations Research.
• Legal: Constitution, Contract Law, Companies Act, Insolvency Code, Criminal & Civil Procedure.
• Finance & Accounts: Financial Statements, Taxation, Ratio Analysis, Cost Accounting, Auditing Standards.
• Official Language (Rajbhasha): Translation (Hindi–English, English–Hindi), Pension/Banking terminology, Legal terminology.

Conclusion

The PFRDA Grade A Syllabus 2025 is vast, covering aptitude, reasoning, English, general awareness, and professional knowledge in Phase 1, followed by descriptive English and subject‑specific papers in Phase 2. Aspirants must plan preparation stream‑wise, practice descriptive writing, and revise current affairs regularly. With the exam dates approaching, clarity on syllabus and exam pattern is the key to success.