POP and CRA Charges under the New Pension Scheme
POP stand for Points of Presence and CRA stands for Central Record keeping Agency. These are two of the various charges that are applicable in case of NPS. The applicable charges are listed below.
Given below are the POP and CRA Charges for the New Pension Scheme:
Corporate entities can negotiate the charges with POP for the provision of the NPS service (this is subject to the limits and ceilings that have been put in place by the PFRDA).
Points of Presence (POP)
Here are the current POP charges for the NPS for All Citizens:
Intermediary | Charged Under Heading | Charges (Service taxes and other applicable levies will be charged as per the existing laws) | Method through which charges are deducted |
POP | Initial subscriber registration and contribution upload. | Rs.100, plus 0.25% of the contribution (which is subject to a minimum of Rs.20 and a maximum of Rs.25,000). | This charge is collected up front. |
Any subsequent transaction. | 0.25% of the contribution (which is subject to a minimum of Rs.20 and a maximum of Rs.25,000). Any other transaction not involving contributions from subscribers = Rs.20. |
Other Intermediary charges
Intermediary | Charged Under Heading | Charges (Service taxes and other applicable levies will be charged as per the existing laws) | Method through which charges are deducted |
CRA | PRA Opening Charges | Rs.50 | Cancellation of Units. |
Annual PRA Maintenance costs (per account) | Rs.225 | ||
Charges per registration | Rs.5 | ||
Trustee Bank | Transactions emanating from RBI locations (per transaction). | Rs.0 | Deduction of NAV. |
Transactions emanating from non-RBI locations (per transaction) | Rs.15 | ||
Custodian (on asset value that’s in custody | Asset Servicing Charges | 0.0075% p.a. (Electronic segment) | Deduction of NAV. |
0.05% p.a. (Physical segment) | |||
PFM charges | Investment Management Fees | As charged by PFM | Deduction of NAV. |
Here’s some important information relating to the charges mentioned above
- The CRA’s charges include charges for:
- The maintenance of the electronic information of the balances in the PRA.
- Sending out of annual account information once a year (in print).
- Changing PRA details.
- The PFM’s Investment Management Fees include all charges related to the transaction such as:
- Brokerage.
- Transaction Cost.
- And does not include:
- Custodian Charges.
- Applicable taxes.
- This fee is calculated on the average monthly assets managed by the pension fund.
- The subscriber is not charged Trustee Bank Charges directly. The term “transaction” refers to all the activities right from receiving the electronic instructions (or physical instrument) to transfer funds to the designated PFMs.
- It also includes all activities leading to credit the beneficiary account, on the outflow side.
- Demat / Remat charges, SEBI charges and all charges relating to the receipt of shares are extra (in relation to Custodian Charges).
Grievance Redressal as per Regulation 31 of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015:
The details of the Ombudsman appointed are available on the PFRDA website – https://www.pfrda.org.in/.
At present, Shri Narender Kumar Bhola has been appointed as the new Ombudsman in terms of the PFRDA (Redressal of Subscriber Grievance) Regulations, 2015.
Details of the ombudsman are as given below:
Shri Narender Kumar Bhola
Pension Fund Regulatory and Development Authority
B-14/A, Chatrapati Shivaji Bhawan,
Qutab Institutional Area, Katwaria Sarai, New Delhi- 110016
Chhatrapati Shivaji Bhawan,
Email ID: ombudsman@pfrda.org.in
Landline No.: 011 -26517507 (Ext : 188)
FAQs on POP and CRA Charges
- What is pop charges in NPS?
The charges connected with the Point of Presence (POP) entities in the NPS system in India are commonly referred to as "POP charges" in the context of NPS (National Pension System).
- What is CRA and pop in NPS?
Points of Presence and Central Recordkeeping Agency are both abbreviations for the same thing. These two fees are just a couple of the many that apply in the case of NPS.
- What is CRA for NPS?
All NPS subscribers' centralised recordkeeping, administrative, and customer service tasks are handled by Central Recordkeeping Agencies (CRAs).
- Can I remove pop from NPS?
Yes, it is possible for a subscriber to alter his or her POP or POP-SP. However, a subscriber using the Corporate model is unable to change his or her linked POP/POP-SP until they change jobs or leave the industry.
- What is pop charge?
Rs.50 annually for contributions between Rs.1,000 and Rs.2,999.
- How to convert pop to CRA?
On the CRA website, at www.npscra.nsdl.co.in, you can find the form ISS1. Send it to the target Nodal Office, or the Nodal Office with whom you will be associated after moving. The target Nodal Office will make it easier to transfer PRAN and the total NPS contributions made by the source sector into the CRA system.
- What is the minimum contribution for NPS CRA?
A subscriber would be required to invest Rs. 100 when registering. Although there is no minimum annual contribution requirement, it is advised that at least Rs. 1000 be contributed each year to guarantee a decent income after retirement.
- How do I know my pop of NPS account?
By visiting The NSDL website, the subscriber can find the closest POP-SP. On https://enps.nsdl.com, subscribers can sign up. PRAN and birthdate are required for authentication. The subscriber's registered number will receive an OTP.
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