The Pension Fund Regulatory and Development Authority (PFRDA) has increased the service charge for Point of Presence (POP) under the National Pension System.NPS) for all citizens as well as corporations. The charges for NPS related services offered at POP outlets have been increased with effect from February 1, 2022.
PFRDA in its circular said, “With a view to encourage POPs to actively promote and distribute NPS and provide better customer service, the charges applicable to POPs for various services rendered by them shall be revised. being done.”
Revised Fee Structure for POPs under NPS (All Citizens and Corporates)
- Initial Customer Registration: 200 – 400 (negotiable with slabs only; advance collected)
- Initial and Subsequent Transactions: Up to 0.50% of the contribution (minimum 30 max 25000 (negotiable with slabs only; non-financial) 30) (already collected)
- Persistence: For more than 6 months in a financial year and minimum contribution from 1000 2999: 50 per annum (only through cancellation of NPS units for all citizens)
for a minimum contribution of 3000 to 2999: 50 per year
for a minimum contribution of 3000 to 6000: 75 per year
For the minimum contribution of the above 6000: 100 per year
- Subsequent contribution through eNPS: 0.20% of contribution (minimum Rs.15 to maximum Rs.10,000) (lump sum deposit)
- Processing of exit and evacuation services. 0.125% charge of the corpus with at least 125 and max 500 will be deposited in advance.
- With effect from February 15, 2022, the duty on all subsequent contributions through ENPS has been increased to 0.20 per cent, subject to the minimum 15 and max charges 10,000. This service charge will not be applicable for customers registered in eNPS.
NPS A market linked, defined-contribution product is what you need to invest regularly in the fund of your choice.
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