law: The Pension Fund Regulatory and Development Authority Act, 2013
  5.     Term of office and
  
  conditions of service of Chairperson and members of Authority.
  1.  
  
    The
  
  Chairperson and every whole-time member shall hold office for a term of five
  
  years from the date on which he enters upon his office and shall be eligible
  
  for reappointment:
  Provided that no
  
  person shall hold office as a Chairperson after he has attained the age of
  
  sixty-five years:
  Provided further that
  
  no person shall hold office as a whole-time member after he has attained the
  
  age of sixty-two years.
  1.  
  
  
  2.  A
  
  part-time member shall hold office as such for a term not exceeding five years
  
  from the date on which he enters upon his office.
  3.  The
  
  salary and allowances payable to, and other terms and conditions of service of,
  
  the members other than part-time members shall be such as may be prescribed.
  4.  
  
    The
  
  part-time members shall receive such allowances as may be prescribed.
  5.  The
  
  salary, allowances and other conditions of service of a member shall not be
  
  varied to his disadvantage after his appointment.
  6.  
  
    Notwithstanding
  
  anything contained in sub-section (1) or sub-section (2), a member may-
  a.   relinquish his
  
  office, by giving in writing to the Central Government, a notice of not less
  
  than thirty days; or
  b.   be removed from his
  
  office in accordance with the provisions of section 6.