PFRDA Circular: Operationalisation of Second CRA for NPS Regular/NPS Lite/APY

PFRDA Circular: Operationalisation of Second CRA for NPS Regular/NPS Lite/APY

Circular

PFRDA/2017/1/CRA/1

Date: January 03, 2017

Sub: Operationalisation of Karvy Computershare Private Limited as second Central Recordkeeping Agency (CRA) for NPS Regular/NPS Lite/APY.

Please refer to the notice dated June 24, 2016 issued by PFRDA on the selection of Karvy Computershare Private Limited as second Central Recordkeeping Agency (CRA) for NPS.

Karvy Computershare Private Limited is currently at an advance stage of CRA system development and is expected to become operational in the near future.

With operationalisation by Karvy, there will be two CRAs operating in the NPS System under PFRDA (Central Recordkeeping Agency) Regulations, 2015 i.e. NSDL e- Governance Infrastructure Ltd and Karvy Computershare Pvt Ltd.

As per the applicabel CRA regulations, the choice of CRA can be made by the employer (existing of prospective) between the existing CRA and the new CRA depending on the policy of the employer in case where there is employer-employee relationship. In case of voluntary subscribers registered under Atai Pension Yojana, the respective Government will choose the CRA for rendering the services. In case of NPS-Lite subscribers the aggregate will have the option to choose the CRA.

The Charge structure of Karvy-CRA for NPS regular and NPS lite subscribers as accepted by PFRDA is as under:-

S.NoService Charge HeadNPS Regular (RS.)NPS Lite/APY
1PRA opening charges39.3615.00
2PRA Annual maintenance charges57.6314.00
3Transaction charges3.36-

This is Issued for the information of all concerned.

sd/-
(Venkateswarlu Peri)
Chief General Manager

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