The Pension Fund Regulatory and Development Authority (PFRDA) on February 27, 2026, issued the guidelines for Operational Activities to be followed by Point of Presence (PoPs) performing activities of NPS Lite.
The following has been stated:
• It has issued the revised Operational Guidelines for Points of Presence (PoPs) under NPS Lite, effective from April 01, 2026. The guidelines comprehensively prescribe uniform procedures and service standards for PoPs handling NPS Lite operations, superseding earlier instructions.
• They detail norms relating to subscriber onboarding, including KYC compliance and documentation, structured contribution collection and timely remittance to the Trustee Bank, reconciliation processes, and coordination with the Central Recordkeeping Agency (CRA).
• The circular mandates defined service timelines, reporting obligations, and maintenance of proper records to ensure transparency and auditability. It also strengthens risk management and fraud prevention mechanisms, requiring internal controls, AML/CFT compliance, and periodic certification.
• Further, PoPs shall establish robust grievance redressal systems and submit periodic reports to PFRDA. Overall, the revised framework aims to standardise operations, enhance accountability, and improve efficiency and transparency in the functioning of NPS Lite.
[Notification no. - PFRDA/2026/12/SUP-POP/04]
