NPS, NPS Lite charges revised from October 1: Check new PoP fees and onboarding charges

The Pension Fund Regulatory and Development Authority (PFRDA) has revised the charge structure applicable to Points of Presence (PoPs) for all schemes under the National Pension System (NPS) and NPS Lite, with the revised structure coming into effect from October 1, 2026.

The revised charges have been prescribed through Circular No. PFRDA/2026/46/REG-POP/08 dated August 28, 2026.

Under the revised structure, the one-time onboarding charge will be ₹200 per PRAN.

The amount is equivalent to ₹50 per quarter and will be deducted through cancellation of units by the CRA and payable to the PoP in the month subsequent to the quarter in which onboarding is completed.

The annual charge will be 0.20 per cent per annum of AUM, to be adjusted through NAV and payable to the PoP on a quarterly basis for all schemes other than dormant accounts.

A dormant account has been defined as an account identified by a unique PAN across all CRAs where, after a contribution in a quarter, there is no contribution for four consecutive quarters as identified at the end of each quarter.

For subscriber onboarding undertaken through a fully digital and non-face-to-face mode between the PoP and subscriber, a reduced one-time onboarding charge of ₹100 may be applicable, as may be determined by the Authority at the time of registration of the PoP and thereafter.

GST and other applicable taxes will be additional.

Subscribers onboarded through e-NPS and making subsequent contributions through e-NPS or D-Remit will not be liable to pay PoP charges.

However, subscribers onboarded through a PoP and subsequently making contributions through e-NPS or D-Remit will be liable to pay the PoP charges prescribed under the circular.

PFRDA has directed all PoPs to publicly display their updated charge structure on their respective websites and bring the revised charges to the attention of stakeholders.

The information will also have to be clearly presented to subscribers during the digital onboarding process through a pop-up notification.

The charge structure for PoPs under 4A Schemes will continue to be governed by their respective guidelines and circulars.

The circular will supersede Circular No. PFRDA/2026/16/REG-POP/01 dated March 10, 2026, with effect from October 1, 2026.

The revised charge structure will be implemented by the Central Recordkeeping Agencies for deduction of charges starting from Q3 of FY 2026-27 onwards.

PFRDA said the circular has been issued “to protect the interests of the subscribers to schemes of pension funds, promotion and development of the pension industry.”