The Pension Fund Regulatory and Development Authority (PFRDA) has deferred the implementation of the revised charge structure applicable to Points of Presence (PoPs) under the National Pension System (NPS) and NPS Lite to December 1, from the earlier deadline of October 1.
In a circular dated October 26, PFRDA said the implementation date specified in its August 28 circular had been revised.
The revised charge structure will now take effect from December 1.
The regulator has directed Central Recordkeeping Agencies (CRAs) to implement the revised structure for the deduction of applicable charges from the new effective date.
The October 26 circular modifies only the implementation timeline. All other provisions of the August 28 circular on the charge structure applicable to PoPs under NPS and NPS Lite will remain unchanged.
Points of Presence are intermediaries that provide NPS-related services to subscribers, including account opening and other pension-related transactions. Central Recordkeeping Agencies maintain subscriber records and facilitate the administration of NPS accounts.
The revised charges are applicable to PoPs across schemes under NPS and NPS Lite. The latest circular does not specify any further changes to the charge structure itself; it only extends the implementation timeline by two months.
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