The Pension Fund Regulatory and Development Authority (PFRDA) on June 17, 2026, has issued a revised audit framework for Points of Presence (PoPs) performing National Pension System (NPS) activities, including NPS Vatsalya.
The following has been stated:
The PoPs are required to have their NPS accounts and processes audited by an independent external chartered accountant or audit firm in accordance with the operational guidelines issued on February 27, 2026.
Under the revised framework, applicable from April 1, 2026, to March 31, 2027, PoPs with less than 10,000 subscribers as of the last day of the financial year must submit an audit report once every three financial years, with the first report due by June 30, 2029, provided the audit report for FY 2025-26 has been submitted. PoPs with 10,000 or more subscribers must submit an audit report annually, with the first report due by June 30, 2027. PoPs having fewer than 100 NPS accounts are exempt from audit report submission; however, upon reaching 100 or more subscribers, they must submit audit reports for all preceding financial years.
The audit shall evaluate internal controls, compliance with the PFRDA Act, Regulations, Guidelines, KYC requirements under the PMLA, and data security measures. PoPs are required to maintain prescribed books of accounts, records, and electronic documents. PFRDA will review audit reports and may take appropriate action for non-compliance. The Authority may also arrange audits for PoPs that fail to submit audit reports within the prescribed timelines.
Please refer to the document attached below for more details.
[Circular No. PFRDA/2026/36/SUP-POP/05]
