Subject: Clarification on Revision of Service Charges to POPs under NPS (All Citizen and Corporate Model)
PFRDA/2017/34/P&D/1
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 provided by them.
The existing charge structure for POPs under NPS (All Citizen and Corporate):
Intermediary | Service |
Charge
|
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 contribution) | 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 |
Charge
|
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 contribution) | 0.05% of the contribution Min Rs 5/- & Max Rs 5,000/- (Only for-NPS-All Citizen and ‘Tier-II Accounts) |
Upfront from subscriber |
2. A new service charge related to persist ency payable annually is being introduced, as shown above and will be paid to POPs for each subscriber. whose account has been opened by them and who contributes a minimum of Rs. 1,000/- in a financial year.
Source: Click here to download PDF – Revision of Service Charges under NPS
Source: Click here to download PDF – Clarification
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