The Pension Fund Regulatory and Development Authority (PFRDA) on June 17, 2026, issued a revised audit framework for PoPs performing NPS-Lite activities.
The following has been stated:
It has mandated that all Points of Presence performing NPS-Lite activities (PoPs-NPS-Lite) conduct audits of their accounts and processes through an independent external chartered accountant or audit firm in accordance with the revised operational guidelines. Under the new framework, PoPs-NPS-Lite are required to submit an audit report once every three years, covering all three financial years, within three months from the end of the relevant financial year. The revised audit framework will apply from April 1, 2026, to March 31, 2027, with the first audit report due within three months from the end of FY 2028-29, subject to submission of the audit report for FY 2025-26.
The audit will assess the adequacy and effectiveness of internal controls, compliance with applicable PFRDA regulations, guidelines, and circulars, KYC requirements under the Prevention of Money Laundering Act (PMLA), and data security measures. PoPs are required to maintain all prescribed books of accounts, records, and electronic documents. PFRDA will review the audit reports and may initiate appropriate action where reports do not meet prescribed requirements. Additionally, the Authority may arrange an audit at its discretion for PoPs that fail to submit audit reports within the stipulated timelines.
Please refer to the document attached below for more details.
[Circular No.: PFRDA/2026/38/SUP-POP/07]
