List of NPS Fund Management Charges
NPS works on an unbundled architecture where multiple intermediaries (such as POP, CRA, Pension Fund Manager, Custodian, NPS Trust etc) are involved to perform different services. For each intermediary PFRDA has defined the charge structure as shown below. All the below charges are subject to change and are exclusive of GST.
Point of Presence (POP) Charges
POP charges are either taken upfront from the customer or recovered from the contribution amount deposited by the customer, as shown below:
| Charge Head | Charges |
|---|---|
| Account Opening | Rs.400 |
| Contribution Processing | 0.50% subject to min Rs.30 and Max Rs.25,000 |
| Non Financial Transaction Processing | Rs.30 |
| Persistency (Applicable for Active Retail Customer with more than 6 months tenure with POP) | Rs.50/- per annum for annual contribution Rs.1000 to Rs.2999.
Rs.75/- per annum for annual contribution Rs.3000 to Rs.6000. Rs.100/- per annum for annual contribution above Rs.6000. |
Pension Fund Manager (PFM) Charges
Effective 1st April 2021, The Fund Management charge for PFMs has been revised. The new charge structure is slab – based according to their AUM slab. Maximum charge permissible against each slab is shown below :
| AUM Slab (in Cr) | PFM Charge % for the slab |
|---|---|
| Up to Rs 10,000 | 0.09% |
| Rs 10,001 – Rs 50,000 | 0.06% |
| Rs 50,001 – Rs 1,50,000 | 0.05% |
| Rs 1,50,000 and above | 0.03% |
Central Record Keeping Agency (CRA) Charges
CRA recovers charges by cancelling units from customer’s NPS account on quarterly mode.
| Charge Head | Charges for KFintech CRA | Charges for NSDL CRA |
|---|---|---|
| PRAN Generation | Rs.39.36 | Rs.40.00 |
| Annual Maintenance | Rs.57.63 | Rs.69.00 |
| Financial Transaction Processing | Rs.3.36 | Rs.3.75 |
Other Intermediaries Charges
Charges for PFM, Custodian and NPS Trust are recovered on daily basis by adjusting NAV.
| Intermediary | Charge Head | Charges (Annual) |
|---|---|---|
| Custodian | Custodian Fee | 0.0032% |
| NPS Trust | Reimbursement of Expenses | 0.005% |
Payment Gateway Charges
For processing contribution online, the payment gateway service provider levies charges depending on the payment mode opted by the customer. These charges are levied to customers on each successful transaction.
| Mode of Payment | Charges |
|---|---|
| RuPay Debit Card | Nil |
| UPI | Nil |
| Net Banking | Rs. 3.5 |
| Credit Card | 0.85% of the contribution amount |
