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    Thursday, 9 November 2017

    REVISION OF SERVICE CHARGES TO POPS UNDER NPS (ALL CITIZEN AND CORPORATE)- PFRDA

    Revision of Service Charges to POPs under NPS (All Citizen and Corporate)

    PFRDA
    PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
    B-14/A, Chhatrapati Shivaji Bhawan,
    Qutab Institutional Area,
    Katwaria Sarai, New Delhi-110016

    CIRCULAR 

    PFRDA/2017/34/P&D/1
    27th October 2017

    TO

    All Stakeholders in the National Pension System
    Subject: Revision of Service Charges to POPs under NPS (All Citizen and Corporate)

    1. With a view to incentivize the POPs to actively promote and distribute NPS, POPs are allowed to collect charges for the various services proyided by them.

    The existing charge structure for POPs under NPS (All Citizen and Corporate):

    Intermediary
    Service
    Charges
    Method of Deduction
    POP
    Initial Subscriber Registration
    Rs. 125/-
    To be Collected Upfront
    Initial Contribution
    0.25% of the contribution Min: Rs. 20/- & Max Rs.25,000/-
    All Subsequent Contribution
    All Non-Financial Transaction
    Rs. 20/-
    e-NPS (for subsequent contributions)
    0.05% of the contribution Min Rs 5/- & Max Rs 5,000/- (Only for NPS-All Citizen and Tier-II Accounts)
    Upfront from subscriber

    The revised charge structure for POPs under NPS (All Citizen and Corporate):


    Intermediary
    Service
    Charges
    Method of Deduction
    POP
    Initial Subscriber Registration
    Rs. 200/-
    To be Collected Upfront
    Initial Contribution
    0.25% of the contribution Min: Rs. 20/- & Max : Rs.25,000/-
    All Subsequent Contribution
    All Non-Financial Transaction
    Rs. 20/-
    Persistency
    Rs. 50/- per annum (only for NPS-All Citizen)
    Through cancellation of units
    e-NPS (for subsequent contributions)
    0.10% of the contribution Min Rs 10/- & Max Rs 10,000/- (Only for NPS- All Citizen and Tier-II Accounts)
    Upfront from subscriber

    2. A new service charge related to persistency payable annually is being introduced, as shown above and will be paid to POPs each subscriber whose account has been opened by them and who contributes a minimum of Rs. 1,000/- in a financial year.

    Yours faithfully

    Sd/-
    (K Mohan Gandhi)
    Deputy General Manager

    Revised Service Charges to POPs under NPS [Download]

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