Revised charge structure of POPs for the subscribers coming Non-Government New Pension Scheme
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
Cir no: PFRDA/ 2013/2/ PDEX / 2
Subject: Revised charge structure of POPs under NPS
Attention of all stakeholders is invited to Initiating the implementation of the recommendations of the Bajpai Committee to Review Implementation of National Pension System (NPS) in the Private (Non-Government) Sector, Pension Fund Regulatory and Development Authority (PFRDA) has announced changes in the charge structure for the Points of Presence (POP) for Private Sector subscribers under National Pension System (NPS) is revised as under, with immediate effect:-
1. An Initial subscriber registration charge of Rs.100/- and an ad valorem transaction charge of 0.25% of the initial contribution amount from subscriber subject to a minimum of Rs.20 and a maximum of Rs. 25,000/-.
2. Any subsequent transaction involving contribution upload – 0.25% of the amount subscribed by the NPS subscriber, subject to minimum of Rs.20/- and a maximum of Rs. 25000/-.
3. Any other transaction not involving a contribution from subscriber – Rs 20/-
The above structure is applicable to both individuals and corporate in the Private (Non-Government) Sector, and is expected to sufficiently incentivize the PoPs to actively participate in the opening of NPS accounts and also provide improved services to account holders. The PoPs have the option to negotiate on the above charges with the subscribers, but within the prescribed charge structure.