NPS charges: New PoP fee rules from December 1; Check how much subscribers may pay

The regulator announced the change in a circular dated October 26, 2026. The extension gives the Central Recordkeeping Agencies (CRAs) additional time to implement the revised charges applicable to subscribers across the covered schemes.

The revised framework was originally notified on August 28, 2026. PFRDA has clarified that the latest circular changes only the implementation date, while all other provisions of the earlier circular remain unchanged.

What has PFRDA changed for NPS subscribers?

In its October 26 circular, PFRDA said the date for implementing the revised charge structure, previously set for October 1, 2026, “stands revised to 01.12.2026”.

The regulator has directed CRAs to implement the revised structure for the deduction of applicable charges from December 1, 2026.

The circular, numbered PFRDA/2026/53/REG-POP/09, was issued to all Points of Presence, CRAs and other stakeholders.

For NPS and NPS Lite subscribers, the key takeaway is that the revised charges will take effect later than originally planned. The extension does not mean the revised framework has been withdrawn.

What are the revised NPS PoP charges?

Under the revised framework announced in August, PoPs will receive a one-time onboarding charge of ₹200 per Permanent Retirement Account Number (PRAN) for subscribers registering through the applicable channels.

Rather than deducting the entire amount at once, the charge is to be recovered through the cancellation of units in quarterly instalments equivalent to ₹50 per quarter.

The revised framework also provides for an annual charge of 0.20% of assets under management (AUM), adjusted through the net asset value (NAV) and payable to the PoP quarterly, for schemes other than dormant accounts.

Will dormant NPS accounts attract these charges?

The revised framework excludes dormant accounts from the annual AUM-linked PoP charge.

Under the definition reported in connection with the August circular, an account may be classified as dormant where there has been no contribution for four consecutive quarters following a contribution, based on the prescribed identification process across CRAs.

Subscribers should check the detailed August 28 circular for the precise applicability conditions and how their accounts are classified.

What happens next?

The revised charge structure is scheduled to come into effect on December 1, 2026. CRAs will implement the revised framework for the deduction of applicable charges from that date.

NPS and NPS Lite subscribers should review the revised fee structure and understand onboarding and recurring charges.