PFRDA fixes maximum charges for NPS, APY, UPS, NPS Vatsalya accounts: What you'll pay from Oct 1

The pension fund regulator announced the new cap on various charges in a circular dated September 15, 2025. The revised charges will be applicable from October 1, 2025.

Here's a look at the revised charge structure for various pension schemes and services to be effective from October 1.

Charges for private sector subscribers (NPS and NPS Vatsalya)

• e-PRAN Kit: ₹18
• Physical PRAN Card ₹40
• Transaction charge: 0

For private sector subscribers, a pension scheme resides in an account and each account attracts a charge based on slab-wise corpus as mentioned below:

Charges for Government subscribers (NPS and UPS)

For UPS subscribers, the charges stipulated above are applicable only during the accumulation phase. The charges applicable for them during the payout phase will be separately stipulated by PFRDA at a later stage.

Charges for APY & NPS Lite

Can CRAs reduce or increase the charges prescribed by PFRDA?

The charges mentioned above are the upper cap. CRAs cannot charge more than the amount prescribed by the regulator.

However, CRAs are free to reduce the charges, but there is a condition:

"CRAs shall be free to reduce the charges any time or based on the negotiations, if any, with the employers/subscribers/PoPs, such that the reduced/negotiated charges shall not be below the upper cap fixed in respect of the immediately preceding slab," the regulator said.

CRAs are required to display the above charges on their official website/mobile application.

The regulator said that in case of any new services introduced by CRAs, it may recover actual charges without any markup on utilisation of such services by the subscribers, subject to the approval of PFRDA.