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- Thus, as per the National Pension System architecture, individuals can subscribe to the National Pensions Scheme with PFRDA-appointed intermediaries via the two accounts mentioned above. These intermediaries can include – Trustee banks Custodians CRA or Central Recordkeeping Agency NPS trust PoP or Points of Presence Annuity Service Providers.
groww.in/p/savings-schemes/national-pension-schemeNational Pension Scheme (NPS) - Features, Application, Types
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Monitors the establishment of adequate infrastructural facilities by itself and the intermediaries, to be able to discharge the role and responsibilities of the intermediaries under the National Pension System. Ensures all the operating procedures and systems are adequately documented and backed by operation manuals; Redressal of subscriber ...
- Functions of NPS Trust
The responsibilities of the NPS Trust include taking care of...
- Charges under NPS
To become a subscriber of NPS, you are required to pay...
- Functions of NPS Trust
Why there are different intermediaries in NPS? What is Corporate Sector? NPS caters to which all Sectors? What are the modes through which employers can adopt NPS for their employees? Which all entities are eligible to adopt NPS for their employees? Is it mandatory for an employer to offer NPS to its employees?
The responsibilities of the NPS Trust include taking care of your assets, ensuring adherence to the regulations and directives issued by the PFRDA, managing the accounts and monitoring the operational / service level activities of intermediaries. Let us go through the functions one by one.
To become a subscriber of NPS, you are required to pay nominal charges as part of the onboarding process. There is a clear break-up of the charges that you need to pay, and there are no hidden costs or fees. The applicable charges levied as part of the process are as follows: Intermediary. Charge head.
• NPS is administered through an unbundled architecture involving intermediaries appointed by the PFRDA viz. Pension Funds, Custodian, Central Recordkeeping Agency (CRA), National Pension System Trust, Trustee Bank, Points of Presence (PoP) and Annuity Service Providers (ASPs).
The National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions for all its employees who ...
PFRDA was established by Government of India on 23rd August, 2003. The Government has, through an executive order dated 10th october 2003, mandated PFRDA to act as a regulator for the pension sector.