The Pension Fund Regulatory and Development Authority (PFRDA) has issued guidelines for Point of Presence (PoPs) performing activities of the National Pension System (NPS). The guidelines, effective from July 1, 2023, supersede the earlier guidelines issued in 2017.
The guidelines cover various aspects including service standards, standard operating procedures, subscriber on-boarding procedure, contribution management procedure, reports and disclosures, redressal of grievances, and other functions. PoPs are advised to adhere to these guidelines to ensure compliance with the regulations governing the NPS.
Guidelines for Operational Activities to be followed by PoPs performing activities of NPS
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
Circular No.: PFRDA/2023/21/SUP-POP/04
June 30, 2023
All Point of Presence (PoPs) performing activities of NPS
Dear Sir / Madam,
Subject: Guidelines for Operational Activities to be followed by Point of Presence (PoPs) performing activities of National Pension System (NPS)
In exercise of the powers conferred under Section 14 of Pension Fund Regulatory and Development Authority Act, 2013 read with the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 (as amended) more particularly Regulation 41 and 42, thereof, following Guidelines are being issued. The Guidelines shall be applicable to categories of Point of Presence registered under Regulation 3(1)(i), 3(1)(ii) and 3(1)(iii) of Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and performing activities of NPS. The guidelines may be modified by the Authority from time to time depending upon the service requirements. These guidelines shall be effective from July 01, 2023 and shall supersede the earlier guidelines issued vide circular no. PFRDA/02/05/104/0001/2017-RnS-POPs dated September 15, 2017.
The detailed guidelines covering following points are enclosed along with this circular:
- Service Standards
- Standard Operating Procedures
- Subscriber On-boarding Procedure
- Contribution Management Procedure
- Reports and Disclosures
- Redressal of grievances
- Other Functions
PoPs are advised to adhere to these Guidelines.