NPS: Revision in condition of negotiation related to Fee/Charge structure for POP under NPS: PFRDA Order Dt. 14 Sep 2020
PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan,
Qutub Institutional Area,
Katwaria Sarai, New Delhi-110016
Date: 14th September, 2020
All Point of Presence/All Stakeholders in the National Pension System
Subject: Revision in condition of negotiation related to Fee/Charge structure for POP under NPS
This is with reference to the circular no. PFRDA/2017/34/P&D/1 dated 27.10.2017 and PFRDA/2017/34/P&D/1 dated 31.10.2017 on revision of service charge to Point of Presence (POPs) under NPS (All Citizen and Corporate Model). In continuation to the above mentioned circulars, the revision in condition of negotiation in existing charge structure of POP is being prescribed, so that POPs provide better customer service to NPS subscribers and also improve their infrastructure and IT platform.
2. Negotiation shall be allowed to continue in the existing POP charge structure for all subscribers both individual and corporate subscribers, subject to the following conditions:
a. Initial subscriber registration charge of Rs. 200/- shall be non-negotiable.
b. Within the existing ad valorem charges of upto 0.25% of the contribution amount, the minimum 0.10% of contribution amount with minimum of Rs. 20/- shall be non-negotiable.
3. This circular on revision in condition of negotiation related to Fee/Charge structure for POP under NPS shall be effective from the date of its issue.
All concerned are advised to take note of the same.
(Vikas Kumar Singh)