NPS – Revision Fee for Banks / POP for KYC verification

Revision in Fee for Banks/POP for KYC verification for online subscriber registration under e-NPS.

Pension Fund Regulatory and Development Authority (PFRDA) has revised the fee for KYC.

PENSION FUND REGULATORY

AND DEVELOPMENT AUTHORITY

B-14/A, Chhatrapati Shivaji Bhawan

Qutab Institutional Area

Katwarla Sarai, New Delhi-110016

CIRUCULAR

PFRDA/2016/3//CRA/TB/1

Date : 28th January, 2018

Subject : Revision in Fee for Banks/POP for KYC verification for online subscriber registration under e-NPS.

Please refer to Pension Fund Regulatory and Development Authority (PFRDA) letter No.PFRDA/20/CORP/20/3 dated December 15, 2015 regarding the Online Subscriber Registration process under NPS (henceforth, referred ase-NPS).  As per the said facility, the subscriber can register online in NPS after two stage verification – online PAN verification by CRA and KYC authentication by the Banks in electronic form to the CRA.  The Banks acting as POP were to be compensated @ Rs.100/- per subscriber for its KYC verification services.

2. It has now been decided by the Authority to increase the amount of compensation from the existing Rs,100/- per subscriber to Rs.125/- per subscriber for its KYC verification services.

3. All other terms and processes under e-NPS would be as per the above said letter.

Venkateswarlu Peri

(General Manager)

Download PFRDA Circular PFRDA/2016/3//CRA/TB/1 dated 28.01.2018