The Pension Fund Regulatory and Development Authority (PFRDA) on December 31, 2025, notified regarding the charge structure of Points of Presence (PoP) for Common Schemes under NPS (All Citizen and Corporate Model), including NPS Vatsalya and NPS Lite.
The following has been stated namely: -
• It has revised the charge structure applicable to PoPs for NPS (All Citizen and Corporate Model), NPS Vatsalya, and NPS Lite, effective from January 01, 2026.
• For the first year of subscriber onboarding, PoPs may either levy AUM-based charges at 0.2% p.a. (0.1% p.a. for CPSE employees) on a quarterly pro-rata basis (subject to minimum charges) or opt for a flat charge of ₹200 per new account, with no AUM-based charge applicable in the first year under the flat-fee option.
• From the second year onwards, AUM-based charges apply uniformly to all active (non-dormant) accounts, while dormant accounts are exempt from charges. The circular clarifies the method of recovery through unit cancellation by CRAs, tax applicability, quarterly computation, exemption for subscribers onboarded and transacting entirely through e-NPS/D-Remit, and compliance requirements for PoPs to intimate their charge options to CRAs by January 15, 2026.
• It mandates public disclosure of updated charges, rectification of any inadvertent excess collections, and supersedes the earlier circular dated January 31, 2025, on PoP service charges.
[Notification no. - PFRDA/2025/24/REG-POP/05]
