NPS investors must know about these latest NPS charges; PFRDA releases full list
The Pension Fund Regulatory and Development Authority (PFRDA) has specified the charge structure for point of presence (PoP) under National Pension Scheme (NPS).
Appointed by the PFRDA, points of presence are entities to provide services to all the citizens to open and operate their NPS accounts. They perform functions through their network of branches called POP service providers (POP-SP). A PoP service provider is more like a first point of contact between you and the NPS.
«The PoPs will continue to have the option to negotiate the charges with the subscribers, but within the prescribed minimum and maximum charge structure,» said PFRDA in a master circular dated April 25, 2024.
What are the maximum and minimum charge structures as specified by PFRDA in the new master circular?
As per the master circular dated April 25, 2024, «Persistency charge per financial year will be applicable on accounts under NPS- All Citizen Model where the subscribers are associated with the PoPs for more than six months in a financial year. This charge will be payable annually to the associated PoPs by deduction of the units in the CRA system after closure of the financial year.»
Here's a table showing the charges:
Source: PFRDA Master Circular dated April 25, 2024
New NPS rule from April 1, 2024
In a circular dated April 1, 2024, PFRDA said that it has improved the security of the NPS architecture. This has been done by implementing a new security
Read more on economictimes.indiatimes.com
