PFRDA introduces StAR NPS platform for onboarding National Pension System subscribers

The Pension Fund Regulatory and Development Authority (PFRDA) has launched a new digital onboarding platform, ‘StAR NPS’, aimed at making account opening and contributions under the National Pension System (NPS) faster, simpler and more transparent for subscribers.

In a circular dated June 3, 2026, the regulator said the platform has been developed by BSE Technologies Pvt. Ltd. (BTPL) to enable a fully digital, assisted onboarding journey through Points of Presence (PoPs) and their network of pension agents, including mutual fund distributors.

Digital onboarding through PoPs and agents

“The platform is intended to provide a technology-enabled assisted onboarding journey for NPS subscribers through PoPs and their associated network of various categories of Pension Agents, which may include Mutual Fund Distributors, while enabling seamless integration with entities within the NPS ecosystem such as Central Recordkeeping Agencies (CRAs) and Trustee Bank.”

It added that PoPs will continue to act as reporting entities under the Prevention of Money Laundering Act (PMLA), while pension agents will function as facilitators.

“Pension Agents, shall act solely as facilitators for onboarding and shall not undertake any regulated intermediary functions beyond the scope permitted under the PoP framework.”

Direct fund transfer to Trustee Bank

A key feature of the new system is direct transfer of contributions to the Trustee Bank.

“The contribution shall be directly remitted to the Trustee Bank, without routing through the accounts of the PoP.”

“The aforesaid mechanism is intended to facilitate seamless digital processing of contributions, eliminate the requirement of fund pooling and manual reconciliation at the PoP level.”

Charges, eligibility and settlement timeline

PFRDA has capped onboarding charges under the platform at ₹200 plus applicable taxes, with no additional charges for subscribers.

“The subscriber shall not be charged any amount over and above the prescribed onboarding charges at the time of registration under this framework.”

The platform will be available to resident Indian individuals aged 18 to 85 years and will support digital KYC via CKYC and DigiLocker.

“Currently, this framework shall be applicable only to: (i) Resident Indian individuals, and (ii) Individuals aged 18 years and above and up to 85 years.”

PFRDA also said contributions will be settled on a T+1 basis.

“The TAT for the fund settlement would be T+1, T being the day of receipt of clear funds from subscriber or within such timelines as may be prescribed, modified, or amended by PFRDA from time to time.”

The regulator said the framework is aimed at expanding digital access and improving interoperability across the NPS ecosystem.