NPS charges: PFRDA postpones implementation of revised PoP fee structure to December 1; what subscribers should know

The Pension Fund Regulatory and Development Authority (PFRDA) has postponed the implementation of revised charges that Points of Presence (PoPs) can collect from subscribers under the National Pension System (NPS) and NPS Lite. The new date is December 1, 2026, instead of October 1.

The revised structure, announced on August 28, 2026, provides for a one-time onboarding charge of ₹200 per Permanent Retirement Account Number (PRAN) and an annual charge of 0.20% of assets under management (AUM) across all NPS schemes.

In its circular released on October 26, 2026, PFRDA mentioned that “the date of implementation of the revised charge structure specified therein, which was earlier prescribed as 01.10.2026, stands revised to 01.12.2026.”

It further stated, “Accordingly, the Central Recordkeeping Agencies (CRAs) shall implement the revised charge structure for deduction of applicable charges with effect from 01.12.2026.”

Here is what the change means for NPS subscribers.

What are PoPs, CRAs and NPS Lite?

Points of Presence (PoPs) are authorised intermediaries that help subscribers access NPS services, including account opening and contributions. Central Recordkeeping Agencies (CRAs) maintain subscriber records and process related transactions, including the deduction of applicable charges.

NPS-Lite was launched in 2010 to provide affordable pension coverage to unorganised-sector workers, with government co-contributions under the Swavalamban scheme. Only Gramin Dak Sevaks (GDS) of the Department of Posts are allowed to enrol in NPS-Lite, as fresh enrolments were discontinued after the launch of the Atal Pension Yojana (APY) in 2015.

What are the revised PoP charges?

Under the 2018 PoP Regulations, PFRDA regulates the charges that Points of Presence (PoPs) can collect from subscribers.

Following the removal of the distinction between Common Schemes and schemes introduced under the Multiple Scheme Framework (MSF), the regulator revised the PoP fee structure for NPS and NPS Lite schemes in its August 28, 2026, circular. The revised charges are as follows:

• One-time onboarding charge: ₹200 per Permanent Retirement Account Number (PRAN). It will be deducted in quarterly instalments of ₹50 through cancellation of units by the Central Recordkeeping Agencies (CRAs) and paid to the Point of Presence (PoP) in the month following the quarter in which onboarding is completed.
• Annual charge: The NPS account will incur an annual charge of 0.20% of assets under management (AUM). The charge will be adjusted through the scheme’s net asset value (NAV) and deducted quarterly to pay the PoP.
• Digital onboarding: A reduced one-time charge of ₹100 may apply where onboarding is fully digital and non-face-to-face, as determined by the regulator.
• Taxes: GST and other applicable taxes are additional.

Will all NPS subscribers have to pay these charges?

No. Subscribers onboarded through e-NPS who make subsequent contributions through e-NPS or D-Remit will not be liable to pay PoP charges.

However, subscribers onboarded through a PoP will remain liable for the prescribed charges even if they subsequently contribute through e-NPS or D-Remit.

According to PFRDA, a dormant account is one linked to a unique PAN across all CRAs in which no contribution is made for four consecutive quarters, as identified at the end of each quarter. Such accounts will not attract annual charges.

The circular also specifies minimum contributions of ₹250 at onboarding and ₹10 for subsequent contributions under NPS.

What should subscribers do now?

The revised charges will take effect from December 1, 2026, rather than October 1. Subscribers should check the PoP’s revised fees before opening an account.

According to the circular, PoPs must display their updated charge structures on their websites and clearly communicate the applicable charges to subscribers through pop-up notifications during digital onboarding.

Disclaimer: This is for informational purposes only. Please visit the official website for the latest updates.