• NPS has unbundled Architecture, where each function is performed by different entities.
  • NPS is based on Personal retirement accounts (PRAs) created for individual members. NPS accumulates savings into subscriber's PRA while he is working and use the accumulations at retirement to procure a pension for the rest of his life.
  • PFRDA, a Prudent Regulator created by Government of India.
  • Central Record keeping lies with NSDL which is associated with various National level projects for recordkeeping functions.
  • Renowned Financial Institutions covering Public/Private Sector Banks, NBFC, Broking houses acting as POP.
  • Funds are managed by Fund Manager from Public & Private sector with proven track record.
  • Axis Bank, functions as Trustee Bank.
  • Stock Holding Corporation of India Ltd, functions as custodian for NPS.
  • NPS has an unbundled Architecture, where each function is performed by a different entity. NPS is a unique product which provides an opportunity for subscribers, to be serviced by the intermediaries which are renowned in their areas, that too at low cost, like:
    • At present, More than 50 POPs with over 14000 POP-SPs are registered for providing NPS services.
    • At present, 7 Annuity service providers have been selected to provide the Annuity.
    • HDFC Life is one of the approved Annuity Service Provider for NPS scheme.