PFRDA Service Charges on CPS/PRAN Accounts Revised- Know More
pfrda-service-charges-on-cps-nps-subscribers-accounts-revised-clarification
This has reference to the circular PFRDA/2017/34/P&D/1 dated 27th October 2017 on revision of service charges to Points-of-Presence (POPs) under NPS (All Citizen and Corporate Model). In continuation of the same, the following points may be noted
PFRDA Revised Service Charges -Clarification
- The revision of service charges to POPs on subscriber registration to POPs will be effective from 01st November 2017.
- The POPs will continue to have the option to negotiate the charges with the subscribers, but within the prescribed charge structure.
- The newly introduced persistency charge of Rs 50/- per financial year will be applicable on accounts under NPS- All Citizen Model associated with the POPs for more than 6 months in a financial year and wherein the subscriber contributes minimum contribution of Rs. 1000/- in Tier I account during the 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.
- The service charges on subsequent transactions by the subscribers associated with the POPs through eNPS platform has been increased from the existing 0.05% of the contribution amount to 0.10% of the contribution amount subject to minimum of Rs.10/- and maximum of Rs.10000/-. The revision of this service charge will be effective from 15th November 2017.
