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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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