NPS, UPS and Atal Pension Yojana Fees to Change from Oct 1: New Charges Explained

The Pension Fund Regulatory and Development Authority (PFRDA) has announced a revised fee structure for Central Recordkeeping Agencies (CRAs). These changes apply to the National Pension System (NPS), Atal Pension Yojana (APY), NPS-Lite, and Unified Pension Scheme (UPS). They replace the old rules issued in June 2020.

Government Sector (NPS and UPS)

• PRAN opening: ₹18 (e-PRAN kit), ₹40 (physical card)
• Annual maintenance: ₹100 per account (zero-balance accounts exempt)
• Transaction charge: Nil

APY and NPS-Lite

• PRAN opening: ₹15
• Annual maintenance: ₹15
• Transaction charge: Nil

Private Sector (NPS and NPS Vatsalya)

• PRAN opening: ₹18 (e-PRAN kit), ₹40 (physical card)
• Transaction charge: Nil

Annual Maintenance (slab-based, Tier I corpus):

• Nil balance: Nil
• ₹1 – ₹2 lakh: ₹100
• ₹2,00,001 – ₹10 lakh: ₹150
• ₹10,00,001 – ₹25 lakh: ₹300
• ₹25,00,001 – ₹50 lakh: ₹400
• Above ₹50 lakh: ₹500

Key Guidelines

• Charges are upper limits; CRAs can charge less.
• For government UPS, fees apply only during the accumulation phase.
• Any new services will be charged at actual cost with PFRDA approval.
• CRAs must display charges clearly on websites and apps.

Read more: EPFO 3.0 Rollout: Backed By TCS, Infosys And Wipro, What Will Change For Over 8 Crore PF Members.

Conclusion

The revised fee structure aims to keep pension schemes cost-effective while ensuring transparency. With no transaction charges and simplified slabs, the move supports wider participation in retirement planning.

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