PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan,
Qutub Institutional Area,
Katwaria Sarai, New Delhi-110016
Ph: 011-26517501, 26517503, 26133730
Fax : 011-26517507
Website : www.pfrda.org.in
CIR No.: PFRDA/2020/30/SUP-CRA/13
Date: 16th July 2020
All stake holders under NPS
Choice for POPs to integrate with CRAs for NPS
Reference is invited to Pension Fund Regulatory and Development Authority (PFRDA) Circular No. PFRDA/2017/5/CRA/2 dated 9th Feb. 2017 on the captioned subject. Based on the feedback received from stakeholders, in partial modification to the said Circular, it has been decided and clarified as under:
- Points of Presence (POPs) shall have the option to integrate with one or more Central Record Keeping Agencies (CRAs) for the purpose of on-boarding and servicing of NPS subscribers under Voluntary/ Corporate sector. However, the POPs which have already integrated with both the CRAs and have subscribers enrolled under both CRAs, may continue with their existing arrangement so as not to inconvenience the existing Subscribers.
- Voluntary NPS subscribers desirous of obtaining the services from a particular CRA may open their NPS account through a POP which is integrated with that CRA. Alternatively, the subscriber shall have the option to open NPS account via the eNPS platform which offers the choice of both the CRAs.
- Similarly, the organizations/ corporates offering NPS to their employees under the aegis of “employer-employee relationship” and are desirous of obtaining the services from a particular CRA, may open their NPS accounts through a POP, which has integrated with that CRA. In case, they register themselves with PFRDA as POPs, they may integrate with the CRA (s) of their choice.
- POPs ore required to display charge or both the CRAs under NPS section on their website lo enable the subscribers to take well Informed decision.
- This circular shall be applicable only to the POPs covered under sub-regulation (I), (II) and (lll) of Regulation 3 or PFRDA (Point of Presence) Regulations, 2018.
This circular is issued in exercise or powers conferred under Section 14 of PFRDA Act. 2013 to protect the interests of the subscribers and is available on PFRDA’s website (www.pfrda.org.ln) under Regulatory Framework end In Circular Section of CRA and PoPs.
(K Mohan Gandhi)
Related to Your Search:
- Transactions of NPS Subscribers generated post change of CRA
- PFRDA – Extension of timelines for activities under National Pension System & NPS Lite- Swavalamban Scheme in view of Covid-19 Pandemic
- Voluntary exit under Atal Pension Yojana (APY) – PFRDA
- Dispensing with the requirement of submission of physical application form in case of NPS account being opened on Aadhaar verification followed by e-Signature
- PFRDA Circulars : Circular on Swavalamban Subscriber Registration through Aggregators Only
- Allowing multiple choice to the subscribers/corporates to change Investment Option and Asset Allocation Ratio during the Financial Year
- eNPS offers ease of online opening of NPS account – PFRDA
- Clarification on Revision of Service Charges to POPs under NPS All Citizen and Corporate Model
- PFRDA takes a new initiative to increase pension coverage by increasing the incentives payable to Points of Presence (POPs), the principal distributive points for NPS