PFRDA Grade A Phase 2 Important Topics 2026, Check Details

The PFRDA Grade A Phase 2 Exam 2026 is scheduled for 20 November 2026, and candidates should now focus on revising important topics, strengthening core concepts, and improving their answer-writing skills. With multiple subjects in Paper 2 and a Descriptive English paper, a balanced preparation strategy is essential to perform well in the examination. Candidates should also focus on the newly added topics of Artificial Intelligence, Media, and Marketing & Communication.

In this blog, we have covered subject-wise high-scoring topics, important numerical areas, essay topics, and practical revision tips for the PFRDA Grade A Phase 2 Exam.

Which are the high-scoring topics for the PFRDA Grade A Phase 2 exam?

The PFRDA Grade A Phase 2 syllabus covers multiple subjects, so candidates should prepare all topics instead of focusing on only a few areas. Previous-year questions can help identify important topics, but the weightage may change this year due to the addition of new topics to the syllabus. The section-wise important topics are provided below.

Subject	Important topics to prepare
PFRDA Act and Pension Sector	• PFRDA Act, 2013 • Powers and functions of the Authority • NPS Trust and NPS features • Investment choices and asset classes • Exit and annuity options • APY and UPS • NPS vs OPS
Finance	• Financial system and financial regulators • Financial markets and money market instruments • Derivatives • GST and FRBM Act • Finance Commission • Inflation • Alternative sources of finance
Economics	• National income concepts: GDP, GNP, NDP and NNP • Demand, supply and elasticity • Inflation and monetary aggregates • Money multiplier • IS-LM model • Fisher’s quantity theory • Balance of Payments
Commerce & Accountancy	• Accounting standards and ratio analysis • Financial statements • Cash flow and fund flow statements • Bonus shares and rights issues • ESOP • Inventory valuation
Costing	• Marginal costing and contribution • P/V ratio • Break-even point and margin of safety • Standard costing • Variance analysis • Cost sheet • Budgetary control
Companies Act	• Important provisions from Chapters 3, 4, 8, 10, 11, 12 and 27 • Roles and responsibilities of directors • Board meetings • Quorum
Management	• Functions of management • Leadership styles • Motivation theories • Human Resource Development (HRD) • Communication • Managerial roles • Employee development
AI, Media and Marketing & Communication	• Supervised and unsupervised learning • Overfitting and cross-validation • Natural Language Processing (NLP) and Large Language Models (LLMs) • Media convergence • Micro-targeting • Marketing mix and pricing • Digital marketing

Note: These topics should be treated as revision priorities rather than a replacement for the complete syllabus. Candidates should understand the basic concepts of every subject and practise both theoretical and numerical questions wherever applicable.

Which PFRDA Act and Pension Sector topics should you prioritise?

The PFRDA Act and Pension Sector are important areas, as they cover the Authority’s role and India’s pension system. Candidates should focus on the PFRDA Act, 2013, NPS structure and features, pension schemes, investment options, exit rules, and annuity options. Special attention should be given to NPS and APY, along with the key differences between NPS, UPS, and OPS.

• PFRDA Act, 2013: Composition, powers and functions of the Authority, NPS Trust, intermediaries and important amendments.
• National Pension System (NPS): Features, eligibility, contribution structure, investment choices and different asset classes.
• NPS investment options: Active Choice, Auto Choice, lifecycle funds and changes in asset allocation with age.
• NPS exit and annuity options: Lump sum withdrawal, annuity purchase, immediate and deferred annuity, joint-life annuity and return of purchase price.
• Atal Pension Yojana (APY): Eligibility, age criteria, contribution and guaranteed pension benefits.
• UPS, NPS and OPS: Differences in contribution, pension benefits, assured payouts and switching options.

Candidates should also understand how pension schemes support retirement planning and financial security. Revise the important features and differences between schemes instead of memorising definitions alone.

Which Finance topics are important for the PFRDA Grade A Phase 2 exam?

Finance covers the financial system, markets, institutions, and government policies. Candidates should understand the roles of major regulators such as RBI, SEBI, PFRDA, and IRDAI, along with derivatives, financial instruments, public finance, and alternative sources of finance. Focus on basic concepts, their features, uses, and related calculations.

• Financial system: Financial institutions, scheduled and non-scheduled banks, financial intermediaries and regulators.
• Financial markets: Money market, capital market, bond market, equity market, foreign exchange market, primary market and secondary market.
• Derivatives: Forwards, futures and swaps, including standardisation, margin requirements, mark-to-market and counterparty risk.
• Money market instruments: Treasury Bills, Commercial Paper, Certificates of Deposit, call money, repo and TRePS.
• Public finance: Government revenue, fiscal policy, budgetary concepts and government expenditure.
• GST: Central GST (CGST), State GST (SGST) and Integrated GST (IGST).
• FRBM Act and Finance Commission: Fiscal deficit targets, escape clauses, tax devolution and the role of the Finance Commission.
• Alternative sources of finance: Private Equity (PE), Venture Capital (VC), Alternative Investment Funds (AIFs) and Public-Private Partnerships (PPPs).
• Inflation and price indices: Consumer Price Index (CPI), Wholesale Price Index (WPI) and their differences.

Which Economics topics should you focus on?

Economics requires a clear understanding of concepts rather than just memorising definitions. Candidates should focus on national income, inflation, demand and supply, monetary theory, and economic models, along with important points from the Union Budget and Economic Survey. Practising numerical questions and revising graphs can also help improve accuracy.

• National income: GDP, GNP, NDP and NNP, along with their calculations and differences.
• Demand and supply: Laws of demand and supply, determinants, elasticity and shifts versus movement along the curves.
• Inflation: Types of inflation, causes, effects and price indices.
• Monetary economics: Money demand and supply, monetary aggregates, monetary base and money multiplier.
• Economic theories: Fisher’s quantity theory of money, consumption function and investment function.
• Economic models: IS-LM model, multiplier, accelerator and Phillips curve.
• Balance of Payments (BoP): Current account, capital account and related concepts.
• Union Budget and Economic Survey: Budget deficit measures, important government announcements and key economic developments.

Candidates should also revise the basics of monetary and fiscal policy and understand how economic changes affect financial markets and the wider economy.

Also Check:

Topic	PFRDA Grade A Quiz
Commerce & Accountancy	Attempt Commerce & Accountancy Quiz
Management	Attempt Management Quiz
Finance	Attempt Finance Quiz
Costing	Attempt Costing Quiz
Economics	Attempt Economics Quiz
Companies Act	Attempt Companies Act Quiz
Pension Sector	Attempt Pension Sector Quiz
PFRDA Act	Attempt PFRDA Act Quiz
AI/ML	Attempt AI/ML Quiz

Which Commerce and Accountancy topics can help you score well?

Commerce and Accountancy covers both theory and numerical questions. Candidates should focus on accounting standards, financial statements, ratio analysis, rights shares, bonus shares, cash flow statements, and basic accounting principles. Regular numerical practice is important to understand formulas and solve application-based questions accurately.

• Accounting standards: AS 2, AS 10, AS 11 and AS 13, with their key provisions and applications.
• Ratio analysis: Current ratio, quick ratio, return on capital, debtor turnover, creditor turnover and asset coverage ratio.
• Financial statements: Balance sheet, profit and loss account, cash flow statement and fund flow statement.
• Share-related concepts: Bonus shares, rights issues, rights issue price and value of rights.
• Basic accounting principles: Matching concept, accrual concept, going concern and consistency.
• Other important areas: ESOP, depreciation, inventory valuation, net realisable value (NRV) and foreign exchange differences.

Revise the formulas used in ratio analysis and practise questions based on financial statements. Candidates should also understand how changes in different figures affect the final ratios.

Which Costing topics should you revise before the exam?

Costing requires a clear understanding of cost concepts, methods, and calculations. Candidates should focus on marginal costing, standard costing, and budgetary control, along with the role of cost components in business decisions. Regular practice of important formulas and numerical questions can help improve speed and accuracy.

• Cost and management accounting concepts.
• Marginal costing, contribution and profit-volume (P/V) ratio.
• Break-even point (BEP) and margin of safety.
• Cost sheet and classification of costs.
• Fixed and flexible budgets.
• Standard costing and variance analysis.
• Overheads and different costing methods.
• Lean systems, cost control and cost-related techniques.

Candidates should practise numerical questions based on contribution, break-even point and variance analysis. Understanding the steps involved in a calculation can also help reduce mistakes during the examination.

Which Companies Act topics should you prepare?

Companies Act requires candidates to understand important legal provisions and their practical use. As previous-year questions do not follow a fixed pattern, candidates should revise all syllabus areas instead of relying on a few chapters. Give priority to important chapters, rules, definitions, procedures, and responsibilities during revision.

• Chapters 3, 4, 8 and 10.
• Chapters 11, 12 and 27.
• Provisions related to directors and their responsibilities.
• Board meetings, meeting procedures and quorum.
• Important rules related to company management and administration.
• Key definitions, provisions and amendments included in the syllabus.

These chapters can provide a starting point for revision, but candidates should refer to the prescribed syllabus and cover the remaining relevant provisions as well.

Which Management topics are important for Phase 2?

Management is a concept-based subject, so candidates should understand important theories and their practical uses. Focus on management functions, leadership styles, motivation theories, human resource development, communication, and organisational concepts. Revising key theories and comparing their features can make this section easier to understand.

• Functions of management: Planning, organising, staffing, directing and controlling.
• Leadership styles: Autocratic, democratic and other important leadership approaches.
• Motivation theories: Maslow’s Need Hierarchy Theory, Herzberg’s Two-Factor Theory and McGregor’s Theory X and Theory Y.
• Human Resource Development (HRD): Employee training, career planning, development and performance.
• Communication: Types, process, barriers and importance of effective communication.
• Managerial roles: Responsibilities and functions of managers.
• Organisational concepts: Structure, coordination and workplace behaviour.

Focus on the key features of each theory and understand how different management approaches influence employees and organisations.

Which newly added topics should you not skip?

The PFRDA Grade A Phase 2 syllabus includes new topics such as Artificial Intelligence (AI), Machine Learning (ML), Media, and Marketing & Communication. Since these topics have not been covered extensively in previous exams, their question pattern and weightage are not yet clear.

Therefore, candidates should prepare all these areas by focusing on basic definitions, features, applications, and differences between related concepts to handle both direct and application-based questions.

Area	Important topics
AI and Machine Learning	Supervised and unsupervised learning, overfitting, cross-validation, Natural Language Processing (NLP), Large Language Models (LLMs) and agentic AI
Media	Media convergence, macro and micro-targeting, digital devices, social media algorithms, Virtual Reality (VR) and Augmented Reality (AR)
Marketing	Marketing mix, pricing, distribution, promotion, brand marketing and digital marketing
Communication	Communication skills, basic concepts, methods and their role in marketing and organisations

As these are newer syllabus areas, candidates should focus on understanding the terminology and practical applications. Avoid spending all your revision time on older subjects while leaving these areas untouched.

Which topics should you prepare for the Descriptive English paper?

The Descriptive English paper requires regular practice in essay writing, precis writing, and reading comprehension. Candidates should prepare essay topics related to pensions, financial inclusion, the Indian economy, technology, governance, and social development. Focus on presenting clear and relevant points in simple, grammatically correct English rather than memorising essays.

• Essay writing: Pension reforms, financial inclusion, retirement planning, ageing population, financial security, economic development and the impact of AI on jobs.
• Precis writing: Practise identifying the main idea, removing unnecessary details and writing a concise summary.
• Reading comprehension: Improve reading speed, understand the main argument and practise answering questions based on passages.
• Current topics: Revise important developments related to the financial sector, economy, technology and government initiatives.

Which essay topics should you prepare for PFRDA Grade A Phase 2?

Essay topics related to the pension sector and financial inclusion deserve special attention because they connect directly with PFRDA’s role and the financial security of individuals. However, candidates should also prepare broader themes related to the economy, technology, governance and social development. The following topics are suggested for practice and are not official PFRDA questions or guaranteed examination predictions.

1. Pension reforms and retirement security

These topics help candidates understand the importance of retirement planning, pension coverage and social security in India.

No.	Suggested essay topic	Key points to prepare
1	The Importance of Pension Awareness in India	Low awareness of retirement planning, early financial planning, financial literacy, role of employers and measures to improve pension awareness
2	Pension Reforms and India’s Social Security Framework	Sustainable retirement income, evolution of pension systems, contributory pension arrangements and challenges in extending social security
3	The National Pension System and Long-Term Financial Security	Disciplined savings, retirement planning, role of NPS, accessibility and informed investment decisions
4	Retirement Planning in an Ageing Society	Demographic changes, longer life expectancy, healthcare expenditure, retirement income and financial preparedness
5	Extending Pension Coverage to India’s Unorganised Workforce	Informal employment, irregular income, financial inclusion, digital accessibility and suitable pension solutions

2. Financial inclusion and financial literacy

Financial inclusion is closely connected with economic empowerment and access to financial services. Candidates should prepare how financial awareness can help individuals make better decisions and protect themselves from financial risks.

No.	Suggested essay topic	Key points to prepare
6	Financial Literacy as a Foundation for Economic Empowerment	Understanding financial products, responsible borrowing, savings, consumer awareness and digital financial literacy
7	Digital Financial Inclusion: Opportunities and Challenges	Digital financial services, convenience, rural connectivity, cybersecurity and digital literacy
8	Women’s Financial Empowerment and Inclusive Growth	Workforce participation, financial independence, access to savings and credit, entrepreneurship and education
9	Financial Inclusion Beyond Bank Account Ownership	Meaningful use of financial services, access to insurance and pensions, affordability and long-term security
10	The Role of Financial Education in Preventing Financial Fraud	Digital transaction risks, common frauds, consumer awareness, safe digital behaviour and institutional safeguards

3. Indian economy and sustainable development

Economic development topics require candidates to present balanced arguments about growth, employment, infrastructure and social progress. Prepare relevant examples and understand how financial institutions and government policies contribute to development.

No.	Suggested essay topic	Key points to prepare
11	Economic Growth Without Social Development Cannot Be Sustainable	Relationship between growth and development, education, healthcare, employment, inequality and inclusive policies
12	India’s Demographic Dividend: Opportunity or Challenge?	Working-age population, skill development, employment generation, education quality and demographic transition
13	Employment Generation and the Future of India’s Economy	Job creation, skill mismatch, entrepreneurship, manufacturing, services and technological changes
14	Sustainable Development and the Role of Financial Institutions	Sustainable project financing, responsible investment, environmental concerns, financial inclusion and economic resilience
15	Rural Development as a Driver of Inclusive Economic Growth	Agriculture, rural livelihoods, infrastructure, education, healthcare, financial access and rural entrepreneurship

4. Technology, Artificial Intelligence and digital transformation

Technology-related essays allow candidates to discuss both opportunities and challenges. Prepare how AI and digital services can improve efficiency while also creating concerns related to employment, privacy and cybersecurity.

No.	Suggested essay topic	Key points to prepare
16	Artificial Intelligence and the Future of Employment	Automation, productivity, changing job requirements, new opportunities, reskilling and ethical challenges
17	Artificial Intelligence in Financial Services: Opportunities and Risks	Operational efficiency, fraud detection, customer service, data privacy, bias and regulation
18	Digital India and the Transformation of Public Services	Digital service delivery, transparency, financial inclusion, accessibility, cybersecurity and digital literacy
19	Cybersecurity as a Foundation of Digital Financial Trust	Digital finance, cyber threats, consumer protection, institutional preparedness and regulatory safeguards
20	Data Privacy in the Age of Digital Transformation	Collection of personal data, consumer rights, responsible data use, misuse and accountability

Also Check: What are the major changes in the PFRDA Grade A 2026

5. Governance, ethics and public policy

These topics help candidates practise analytical writing on institutional responsibility, regulation and public trust. Focus on the importance of transparent decision-making and the balance between innovation and public protection.

No.	Suggested essay topic	Key points to prepare
21	Transparency and Accountability in Public Institutions	Public trust, transparent decisions, institutional accountability, technology-enabled governance and implementation challenges
22	Ethical Leadership and Good Governance	Integrity, responsibility, fair decisions, organisational culture and institutional effectiveness
23	The Role of Regulation in Protecting Financial Consumers	Consumer protection, financial stability, transparency, fair practices and responsible regulation
24	Balancing Financial Innovation and Regulatory Oversight	Financial technology, innovation benefits, consumer risks, systemic risks and proportionate regulation
25	Public Awareness as a Tool for Effective Policy Implementation	Informed participation, public communication, financial literacy, behavioural barriers and policy effectiveness

6. Society, education and human development

Candidates should also prepare broader social themes because essay writing tests the ability to organise ideas and present logical arguments, not just knowledge of the financial sector.

No.	Suggested essay topic	Key points to prepare
26	Quality Education as the Foundation of National Development	Human capital, learning outcomes, educational inequality, digital learning and employability
27	Skill Development and Youth Employability in India	Labour-market needs, vocational education, industry-academia partnership, digital skills and entrepreneurship
28	Climate Change and Its Impact on Economic Development	Environmental risks, agriculture, livelihoods, infrastructure, sustainable investment and climate adaptation
29	Urbanisation in India: Opportunities and Challenges	Economic opportunities, housing, infrastructure, transport, pollution and sustainable city planning
30	Social Security as an Essential Component of Inclusive Development	Economic vulnerability, old-age protection, informal workers, financial accessibility and sustainable social protection

How should you prepare for the Descriptive English paper?

A common mistake is to collect model essays and memorise them. This approach may not help if the examination presents a familiar topic in a different way. Candidates should instead understand the subject, prepare their own arguments and practise writing independently. A structured approach can improve clarity, paragraph organisation and time management.

1. Understand the topic: Identify what the question is asking. For example, an essay on financial literacy and economic empowerment should explain how financial knowledge improves decision-making and financial security.
2. Generate relevant ideas: List the main arguments, benefits, challenges, examples and possible solutions before writing.
3. Prepare an outline: Arrange the discussion in a logical order, such as introduction, main arguments, challenges, solutions and conclusion.
4. Write independently: Use your own language and prefer clear sentences over complicated vocabulary.
5. Evaluate your answer: Check whether the essay is relevant, well organised, grammatically correct and within the given instructions.
6. Correct and reattempt: Identify recurring mistakes and practise the areas that need improvement.
7. Tips for precis writing and reading comprehension:
   • Read the passage carefully before preparing a precis.
   • Identify the central idea and remove repeated or unnecessary details.
   • Use your own words while retaining the original meaning.
   • Keep the summary concise and follow the prescribed instructions.
   • For reading comprehension, practise identifying the main argument, supporting details and conclusions.
   • Improve reading speed without compromising understanding.

Which numerical topics should you practise for Phase 2?

Numerical questions may appear in Commerce & Accountancy, Finance, Economics, Costing, and the Pension Sector. Candidates should revise important formulas, practise different types of problems, and take mock tests to improve speed and accuracy. Give special attention to application-based questions that require a clear understanding of concepts.

Subject	Important numerical areas
Commerce & Accountancy	Current ratio, quick ratio, turnover ratios, rights issue calculations, NRV and foreign exchange differences
Finance	Weighted EPS, futures, forwards, hedging and other derivative-related calculations
Economics	National income conversions, GDP deflator, money multiplier and Fisher’s equation
Costing	Contribution, P/V ratio, break-even point, margin of safety and variance analysis
Pension Sector	NPS contributions, withdrawal calculations and pension-related concepts

Candidates should maintain a separate formula sheet for numerical topics. After attempting a mock test, revisit every incorrect and unattempted numerical question and try solving it independently.

What mistakes should you avoid while preparing high-scoring topics?

Focusing on important topics can make revision easier, but candidates should not ignore the complete syllabus, as questions may come from less-repeated areas. Avoid skipping Descriptive English, numerical practice, or depending only on mock-test scores. A balanced preparation strategy can help improve overall performance in the PFRDA Grade A Phase 2 Exam.

Common mistake	How to avoid it
Studying only high-priority topics	Cover the complete syllabus and use the list for revision priorities.
Ignoring newly added subjects	Revise the basic concepts of AI, Media and Marketing & Communication.
Focusing only on theory	Practise numerical questions from all relevant subjects.
Skipping essay practice	Write essays regularly and practise different themes.
Memorising complete essays	Prepare outlines and develop the ability to write independently.
Ignoring precis and comprehension	Practise both regularly to improve understanding and writing skills.
Not analysing mock tests	Review incorrect and unattempted questions and revise the related concepts.
Memorising without understanding	Focus on concepts and try explaining topics without notes.
Neglecting revision	Follow a regular revision schedule and maintain short notes and an error log.

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