Guidelines for Operational Activities to be followed by PoPs performing activities of National Pension System (NPS)

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Guidelines for Operational Activities to be followed by PoPs performing activities of National Pension System (NPS)

Guidelines for Operational Activities to be followed by Point of Presence (PoPs) performing activities of National Pension System (NPS)

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
CIRCULAR

Circular No.: PFRDA/2023/21/SUP-POP/04

June 30, 2023

To,
All Point of Presence (PoPs) performing activities of NPS

Dear Sir / Madam,

Subject: Guidelines for Operational Activities to be followed by Point of Presence (PoPs) performing activities of National Pension System (NPS)

In exercise of the powers conferred under Section 14 of Pension Fund Regulatory and Development Authority Act, 2013 read with the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 (as amended) more particularly Regulation 41 and 42, thereof, following Guidelines are being issued. The Guidelines shall be applicable to categories of Point of Presence registered under Regulation 3(1)(i), 3(1)(ii) and 3(1)(iii) of Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and performing activities of NPS. The guidelines may be modified by the Authority from time to time depending upon the service requirements. These guidelines shall be effective from July 01, 2023 and shall supersede the earlier guidelines issued vide circular no. PFRDA/02/05/104/0001/2017-RnS-POPs dated September 15, 2017.

The detailed guidelines covering following points are enclosed along with this circular:

  1. Service Standards

  2. Standard Operating Procedures

  3. Subscriber On-boarding Procedure

  4. Contribution Management Procedure

  5. Reports and Disclosures

  6. Redressal of grievances

  7. Other Functions

PoPs are advised to adhere to these Guidelines.

Yours faithfully,

Gurminder Kaur
General Manager

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COMMENTS

WORDPRESS: 1
  • Amulya Kumar Das 12 months ago

    The nps corops annuity value may be enhanced to 12.5 lakhs instead of 5lakhs . So that 40% employer cont may be a good amounts give a good pension amount atleast diverted 5lakhs amount or more for monthly amount. Please enhance the limit from 5lakhs to 12.5 lakhs to provide a better amount otherwise minimum pension of ₹9000 per month may be given to retirement family members in respect of old age spouse for better social life..