Condition of Negotiation Related to Fee/Charge Structure for POP under NPS: PFRDA Circular dated 13.12.2021
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
Date: 13th December, 2021
All Point of Presence/All Stakeholders in the National Pension System
Subject: Condition of negotiation related to Fee/Charge structure for POP under NPS
This is with reference to the revision of service charge to Point of Presence (POPs) under NPS (All Citizen and Corporate Model) vide Circular nos. PFRDA/2017/34/P&D/1 dated 27.10.2017, PFRDA/2017/34/P&D/1 dated 31.10.2017 and PFRDA/2020/40/REG-POP/1 dated 14.09.2020.
2. In partial modification of Circular no. PFRDA/2020/40/REG-POP/1 dated 14.09.2020, point 2(b) is being revised as under:
Within the existing initial/subsequent contribution charges of upto 0.25% of contribution amount, the minimum fee/charge shall not be less than Rs. 20/- per subscriber, per contribution for initial as well as for subsequent transactions. This fee/charge of Rs. 20/- per subscriber, per transaction shall be non-negotiable and the maximum fee/charge would be 0.25% of contribution amount subject to an upper cap of Rs. 25,000/-. This is illustrated as under:
(i) If a subscriber is contributing Rs. 5,000/- , POP shall not charge less than Rs. 20/- from subscriber, 0.25% of Rs. 5,000/- being Rs. 12.50 in this case.
(ii) If a subscriber is contributing Rs. 2,00,00,000/- (Rupees Two Crore Only), POP shall not charge less than Rs. 20/- and can charge maximum Rs. 25,000/-, 0.25% of Rs. 2,00,00,000/-being Rs. 50,000/- in this case.
3. The above charges become applicable from the date of issue of this circular.
4. All concerned are advised to take note of the same.
(Vikas Kumar Singh)