Activities under National Pension System & NPS Lite Swavalamban Scheme from March to June 20

Activities under National Pension System (NPS) & NPS Lite Swavalamban Scheme from March to June 20 – PFRDA Circular dated 6 April 2020.

Pension Fund Regulatory and Development Authority

Circular no:PFRDA/2020/6/SUP-POP/1

Date: 06.04.2020

Activities under National Pension System (NPS) & NPS Lite Swavalamban Scheme from March to June 20.

To prevent the spread of COVID19, Government of India and various states have initiated various measures including lock-down in the country. To ensure proper service to subscribers, Point of Presence (POPs) are advised to undertake the activities prescribed under Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 / Pension Fund Regulatory and Development Authority (Aggregators) Regulations, 2015 and guidelines /circulars issued there under as per the best available means and resources in transparent manner.

The POPs are requested to intimate subscribers to opt for online platforms for conduct of transactions under NPS and NPS Lite. The PoPs are advised to refer to PFRDA Circular CIR No: PFRDA/2020/2/CORP/1 Date: 24th March,2020( attached)

On the request of the PoPs, the Authority has permitted the following relaxations:

POPs may submit the compliance reports ( due between 1
st March 20 and 30th June 20) within 30 days from the normal due date through email;
Waiver of compensation to be paid to subscribers due to delays in prescribed TATs under guidelines for period 1st March 2020 to 30th April 2020;
POPs are advised to report the delay in the exception report submitted to NPS Trust.

Date: 06.04.2020

sd/-
Ms Sumeet Kaur Kapoor
(Chief General Manager)

Click to view the PFRDA Circular

Source: PFRDA