PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan,
Qutub Institutional Area,

Katwaria Sarai, New Delhi-110016
Ph: 011-26517501, 26517503, 26133730
Fax : 011-26517507
Website : www.pfrda.org.in

CIRCULAR

CIR No.: PFRDA/2020/30/SUP-CRA/13

Date: 16th July 2020

To,
All stake holders under NPS

Choice for POPs to integrate with CRAs for NPS

Reference is invited to Pension Fund Regulatory and Development Authority (PFRDA) Circular No. PFRDA/2017/5/CRA/2 dated 9th Feb. 2017 on the captioned subject. Based on the feedback received from stakeholders, in partial modification to the said Circular, it has been decided and clarified as under:

• Points of Presence (POPs) shall have the option to integrate with one or more Central Record Keeping Agencies (CRAs) for the purpose of on-boarding and servicing of NPS subscribers under Voluntary/ Corporate sector. However, the POPs which have already integrated with both the CRAs and have subscribers enrolled under both CRAs, may continue with their existing arrangement so as not to inconvenience the existing Subscribers.
• Voluntary NPS subscribers desirous of obtaining the services from a particular CRA may open their NPS account through a POP which is integrated with that CRA. Alternatively, the subscriber shall have the option to open NPS account via the eNPS platform which offers the choice of both the CRAs.
• Similarly, the organizations/ corporates offering NPS to their employees under the aegis of “employer-employee relationship” and are desirous of obtaining the services from a particular CRA, may open their NPS accounts through a POP, which has integrated with that CRA. In case, they register themselves with PFRDA as POPs, they may integrate with the CRA (s) of their choice.
• POPs ore required to display charge or both the CRAs under NPS section on their website lo enable the subscribers to take well Informed decision.
• This circular shall be applicable only to the POPs covered under sub-regulation (I), (II) and (lll) of Regulation 3 or PFRDA (Point of Presence) Regulations, 2018.

This circular is issued in exercise or powers conferred under Section 14 of PFRDA Act. 2013 to protect the interests of the subscribers and is available on PFRDA’s website (www.pfrda.org.ln) under Regulatory Framework end In Circular Section of CRA and PoPs.

(K Mohan Gandhi)
General Manager

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PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

CIRCULAR

CIR No.: PFRDA/2020/ 10/SUP-CRA/3

Date: April 17, 2020

To,
All stakeholders under NPS

Subject: Choice of CRA Selection by NPS subscribers

It has been decided that the subscribers under All Citizen Model, who were so far allowed to exercise the choice/ change of CRAs only once in a financial year, will hitherto be allowed to exercise such choice twice in a financial year. Further, for the subscribers who are under employer-employee relationship, the choice of two CRAs can exceed, if their employer chose to change CRA.

Similarly, the Subscribers of All Citizens Model who have already exercised the choice of CRA twice in a financial year, can exercise their choice of CRA even beyond two times, in case they become a member of NPS through their employer viz under Government or Corporate Model.

The statement of transactions of NPS Subscribers generated post change of CRA, would reflect the transaction details performed through the earlier CRA also.

This circular is issued under Section 14 of PFRDA Act 2013 and is placed under circulars in the CRA section of Intermediaries and also under circulars in the Regulatory framework at PFRDA website.

(K.Mohan Gandhi)
General Manager

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PFRDA

Pension Fund Regulatory & Development Authority
1st Floor, ICADR Building
Plot No.6, Vasant Kunj
Institutional Area, Phase – II
New Delhi – 110070
Te;:011-26897948/226897949
Fax: 011-26897938

PFRDA/2015/10/SWM/03

CIRCULAR

To,
All Aggregators

Date:17th February,2015

Subject: NLCC access to CRA system to view and Print Statement to Transaction and E-PRAN

All the Aggregators are hereby informed that NPS lite collection centre’s (NLCCs) can now access the CRA system (www.npscra.nsdl.co.in) to view and print statement of Transaction (SOT) and E-PRAN card of underlying NPS Lite/Swavalamban subscribers.

At present, the NPS Lite Oversight Offices (NLOOs) and NPS Lite Account Offices (NLAOs) have an access to the CRA system. With the new feature made available in the CRA system, then NLCCs can access CRA system using one time password (OTP). The NLCCs who have obtained10 digit NLCC Registration number and have registered their mobile number in the CRA system can use this option to access the CRA system.

The Statement of Transaction (SOT) can be viewed and downloaded by NLCC financial yearwise

The E-PRAN card can be generated/downloaded by NLCCs can also print the E-Pran card. The E-PRAN card is similar to a physical PRAN card and will display the same details alongwith photograph and signature of the subscriber. However, physical PRAN card cannot be replaced by E-PRAN Card. The subscribers will be required to produce the physical PRAN card wherever necessary. CRA shall continue sending the physical PRAN card as per the approved process.

The detailed for accessing the CRA system by NLCCs is available on CRS’s website and also on PFRDA’s website i.e. www.pfrda.org.in under the section intermediaries central recordkeeping agency –Standard Operating Procedures – Seavalamban yojana (NPS-Lite) or directly at the given link – http://www.pfrda.org.in/index1.cshtml?lsid-173

The Aggregators are requested to disseminate the information to their underlying NPS-lite collection centers (NLCCs). In case any further clarification is required, they may contact shri.sunil Samuel at 022-24994279 (email id – sunlis@nsdl.co.in) or Shri.Kaustubh S.Vaidya at 022-24994577 (email id – kaustubhV@nsdl.co,in).

Sd/-
(Rakesh sharma)
General Manager

Source: http://www.pfrda.org.in//MyAuth/Admin/showimg.cshtml?ID=580

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Pension Fund Regulatory and Development Authority

CIRCULAR

PFRDA/2013/13 /PDEX/08

20th August 2013

Subject: Portability of PRAN – NPS Lite/Swavalamban to NPS – All Citizen Model and other sectors

There were several requests from NPS Lite/Swavalamban subscribers seeking porting of their PRANs from NPS Lite/Swavalamban to the All Citizen Model of NPS(UOS). PFRDA after examining the matter has approved the shifting/porting of NPS/Lite/Swavalamban accounts to NPS-All Citizen model and other Sectors through an Inter platform shift process which is detailed as below:

1. The subscriber has to submit the following documents to the new nodal office (POP/PAO/DDO etc) who in turn will process the application and forward the document to CRA.

a. Duly filled in Inter platform shift (IPTR-1) form along with the duly filled in registration form of the sector to which he wishes to migrate

b. Submit the PRAN already issued and in absence of PRAN has to provide a notorised affidavit as to the reasons for non-submission.

2. CRA upon receipt of request would initiate the process for creation of new Permanent Retirement Account (PRA) with new PRAN for the subscriber on the target platform and disable the earlier PRAN of the subscriber in the system. The earlier/old PRAN would not be allotted to anybody else in the system. Also, the earlier record would be tagged to the new account for audit trail as well as for knowing information like if the subscriber has availed Swavalamban benefit under the earlier PRAN or not etc.

3. CRA would issue necessary instructions for monetization of the accumulated corpus in the old/earlier PRAN and also necessary instructions for crediting of such accumulated corpus received upon monetization into the new PRAN account. The entire activity would be a controlled activity from CRA end.

4. There would not be any requirement of providing KYC documents once again by the subscriber, if the same have been submitted/collated at the time of subscriber registration under NPS already and the address provided in the new registration for is matching with that of existing record. If there is any change in the address from the existing NPS account address proof need to be submitted afresh. The CRA would tag the KYC documents to the new PRAN and ensure that all the required details are available.

5. CRA would print and dispatch the PRAN card directly to the subscriber/aggregator as the case may be and CRA would not be charging any extra charges for the same.

Subscribers intending to shift their PRAN from NPS Lite/Swavalamban to All Citizen Model and other sectors may approach the new/intended contribution uploading office (POP/PAO/DDO etc) for doing the needful on the matter. The format for Inter platform shift (IPTR-1) form is being attached along with the circular.

sd/-
Venkateswarlu Peri
General Manager

Source: www.pfrda.org.in
[http://pfrda.org.in/writereaddata/linkimages/Circular%20on%20Inter%20platfrom%20Shifting837264889.pdf]

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CRA had reduced Annual Maintenance Charges (AMC) from Rs. 350 to Rs. 280 and Transaction Charges from Rs. 10 to Rs. 6 once the number of accounts (PRANs) crossed 10 lakhs. It was committed to reduce the charges once the number of accounts reaches 30 lakhs. However, with commendable increase in the number of subscribers in a short span of one year, CRA has reduced the AMC by almost 20% to Rs. 225 and Transaction Charges by more than 16% to Rs.5 even before reaching the milestone.

Source: https://www.npscra.nsdl.co.in/news_detail.php?id=24

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PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

Cir no: PFRDA/ 2013/2/ PDEX / 2
SL-6

Subject: Empanelment of Annuity Service Providers (ASPs) under National Pension System for providing annuity services

PFRDA has issued necessary instructions to CRA with respect to the Empanelment of Annuity Service Providers (ASPs) under National Pension System for providing annuity services. The said information is being re-iterated hereunder for the information of all stakeholders for a better appreciation of the matter.

Following seven Annuity Service Providers (ASPs) have been empanelled for the purpose.
1. Life Insurance Corporation of India
2. SBI Life Insurance Co. Ltd.
3. ICICI Prudential Life Insurance Co. Ltd.
4. Bajaj Allianz Life Insurance Co. Ltd.
5. Star Union Dai-ichi Insurance Co. Ltd.
6. Reliance Life Insurance Co. Ltd.
7. HDFC Standard Life Insurance Co. Ltd.

The companies would be offering their approved annuity products to NPS subscribers and would also designing products suiting our requirements.

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