PoP charge implementation deadline for NPS, NPS Lite subscribers extended; check details

New Delhi: PFDA has issued a circular dated 26 October 2026, titled, Charge structure applicable to PoPs for All Schemes under NPS and NPS Lite. It wrote, "Reference is invited to PFRDA Circular No. PFRDA/2026/46/REG-PoP/08 dated 28.08.2026 on the subject “Charge structure applicable to PoPs for All Schemes under NPS and NPS Lite”.

PFRDA said, in partial modification of the aforesaid circular, the date of implementation of the revised charge structure specified therein, which was earlier prescribed as 01.10.2026, stands revised to 01.12.2026.

Accordingly, the Central Recordkeeping Agencies (CRAs) shall implement the revised charge structure for deduction of applicable charges with effect from 01.12.2026. All other provisions of the circular dated 28.08.2026 shall remain unchanged, the pension body added.

In its 28 August circular, PFRDA had said that charge structure applicable to PoPs for all schemes under NPS and NPS Lite may be collected by the point of presence from the subscriber shall be subject to the limit, mode and manner of collection, as permitted by the Authority.

In accordance with the PoP Regulations, the applicable charges for PoPs for All Schemes under NPS and NPS Lite are hereby revised as follows:

a. One Time Onboarding charge

Rs 200 per PRAN (equivalent of Rs. 50/- on quarterly basis will be deducted through cancellation of units by CRA(s) and payable to PoP in the month subsequent to the quarter in which on-boarding is completed).

b. Annual charges

0.20% p.a. of the AUM to be adjusted through NAV and payable to PoP on quarterly basis, for all schemes other than Dormant accounts.

PFRDA has noted that GST or other taxes as applicable, shall be additional over and above the charges mentioned.

Dormant Account will not be charged. Dormant account is defined as such account(s) identified by a unique PAN across all CRAs, where subsequent to a contribution in a quarter, there is no contribution for four consecutive quarters as identified at the end of each quarter.

Where subscriber onboarding is undertaken through a fully digital and non-face-to-face mode, between the PoP and the subscriber, a reduced one-time onboarding charge of Rs 100 may be applicable, as may be determined by the Authority at the time of registration of PoP and thereafter.

Minimum Contribution

There shall be a minimum contribution of Rs 250 at the time of onboarding and Rs 10 at the time of making subsequent contributions for subscribers under NPS.

PFRDA further added that  subscribers onboarded through e-NPS and making subsequent contributions through e- NPS or D-Remit shall not be liable to pay any PoP charges. It said that subscribers onboarded through a POP and making subsequent contributions through e-NPS or D-Remit, shall be liable to pay PoP charges as prescribed above.

The pension body has made it mandatory for all PoPs to publicly display their updated charge structure on their respective websites and bring this attention to their stakeholders on immediate basis. This information must also be clearly presented to subscribers during the transaction process through pop-up notification, in their digital on- boarding journey, PFRDA added.