PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

CIRCULAR

CIR No: PFRDA/2022 /18/SUP- POP/02

Date: 3.08.2022

To,
Points of Presence (PoPs)

Subject: Instruction to stop Facility of Payment of Subscriptions/ Contribution to Tier-II Account of NPS through Credit Card – Urgent

The Authority has decided to stop the facility of payment of subscriptions/contributions using credit card as a mode of payment in the Tier-II account of NPS. Accordingly, all PoPs are advised to stop the acceptance of credit card as a mode of payment for the Tier-II account of NPS with immediate effect.

2. This circular is issued in exercise of the powers conferred under Section 14 of Pension Fund Regulatory and Development Authority Act, 2013 to protect the interests of subscribers and to regulate, promote and ensure orderly growth of the National Pension System and pension schemes to which the Act applies.

3. A copy of this Circular is available on the website of PFRDA at www.pfrda.org.in.

Yours sincerely,

Gurminder Kaur
(General Manager)

Download Instruction to stop Credit Card Facility under NPS Tier-II -Urgent PDF

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PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

PFRDA/2013/11/PDEX/7

May 22, 2013

To,
All POP’s, Aggreators, CRA, Central and State Governments,

Dear Sir Madam,

Sub: 1. KYC documents required for entry & exit of National Pension System – Addendum.
2. Making PAN Card a Mandatory requirement for opening and operation of Tier II account

Pursuant to PFRDA’s earlier circular no PFRDA/2013/1/PDEX/25 dated 11.01.2013 with respect to revised list of Know Your Customer (KYC) documents required for both entry and exit under National Pension System, it has been decided to include below mentioned documents in addition to the acceptable KYC documentation, on the basis of feedback received from various entities registered under NPS:

Identification Proof	Identity card issued by Central/State government and its Departments, Statuary/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities and Professional Bodies such as ICAI, ICWAI, lCSl, Bar Council etc.
Address Proof	The identity card/document with address, issued by any of the following: Central / State Government and its Departments, Statuary/Regulatory Authorities, Public Sector Undertakings, Schedules Commercial Banks, Public Financial Institution for their employees.

2. It has also been decided to make submission of PAN Card a mandatory requirement for opening and operation of a Tier II account for all sectors under NPS with immediate effect to ensure compliance with AML/CFT guidelines.

CIRCULAR

In pursuance of this, all existing Tier II accounts under NPS need to be made PAN compliant. The subscribers would be given a time period of 3 months from the date of issuance of this circular, after which the operation of such account would be suspended till the requirement is complied with.

This is for the information of all concerned. The circular has also been placed on PFRDA website at http://www.pfrda.org.in and CRA website at http://www.npscra.nsdl.co.in.

Yours faithfully,
Sd/-
Venkateswarlu Peri
General Manager

Source: www.pfrda.org.in

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