Explanation:

Pension Fund Regulatory and Development Authority (PFRDA)

• It is the statutory authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the National Pension System (NPS).
• The Pension Fund Regulatory & Development Authority Act was passed on 19th September 2013.
• It works under the Department of Financial Services under the Ministry of Finance.

Functions

• PFRDA is regulating NPS, subscribed by employees of Govt. of India, State Governments and by employees of private institutions/organisations & unorganised sectors.
• It performs the function of appointing various intermediate agencies like Pension Fund Managers, Central Record Keeping Agency (CRA) etc.
• It develops, promotes and regulates the pension industry under the NPS and also administers the APY (Atal Pension Yojana).

Hence both statements are correct.