NISM Series 17

Retirement Adviser Certification

PFRDA-mandated certification for retirement advisers. Covers NPS architecture, retirement planning strategies, pension products and the regulatory framework under PFRDA.

Pro Tip
Coming soon: our full preparation pack for NISM Series XVII (Retirement Adviser) is being prepared from the latest PFRDA-mandated syllabus. In the meantime this page summarises what the exam actually covers so you can plan your preparation.

About NISM Series 17: Retirement Adviser

NISM Series XVII is the certification examination mandated by the Pension Fund Regulatory and Development Authority (PFRDA) for individuals seeking to register as Retirement Advisers. It covers the architecture of the National Pension System (NPS), retirement planning concepts, pension products available in India, and the regulatory framework governing retirement advisory.

Common confusion: Series XVII is NOT the Corporate Bonds examination — there is no NISM "Corporate Bonds" series. If you are looking for fixed-income or debt-market certifications, the closest active NISM exams are Series IV (Interest Rate Derivatives) and Series XIII (Common Derivatives).

Exam Structure

Format

  • Questions: 100 multiple-choice questions (1 mark each)
  • Duration: 2 hours (120 minutes)
  • Passing score: 60% (60 / 100)
  • Negative marking: 25% (-0.25 marks per wrong answer)

Who needs it

  • Professionals seeking PFRDA registration as Retirement Advisers
  • Financial planners advising clients on NPS and pension products
  • Distribution channel partners of NPS

Always confirm current exam specifications on the official NISM site (nism.ac.in) before scheduling.

Syllabus Overview

The official NISM Series XVII syllabus is organised around nine units. Weightages vary; the list below names the topics you should expect to encounter — refer to the official NISM workbook for the current marks distribution.

  1. Fundamental concepts in retirement planning
  2. Financial markets and investment products
  3. The retirement planning process
  4. National Pension System (NPS): architecture and operations
  5. Fund performance, scheme selection and asset allocation
  6. Other retirement and pension products (EPF, PPF, annuities)
  7. Retirement planning strategies for different life stages
  8. Special considerations (NRIs, atypical clients, behavioural factors)
  9. Regulations and regulators (PFRDA, related laws)

While you wait

Full mock tests, chapter-wise practice and detailed prep notes for Series XVII are being authored from the current NISM workbook. If you need a related active certification you can start with today, consider:

NISM Series 10A

Investment Adviser Level 1

Foundational SEBI-recognised advisory certification covering financial planning and product knowledge.

Open

NISM Series 5A

Mutual Fund Distributors

AMFI-mandated mutual fund distribution certification — broadly relevant for retirement-product distribution.

Open

NISM Series 12

Securities Markets Foundation

Entry-level foundation on Indian securities markets.

Open

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