NPS charges change Oct 1: Rs 200 fee, 0.20% annual charge; who pays?
Under the new fee structure, subscribers registering for NPS through a PoP will be charged a one-time onboarding fee of Rs 200 for each Permanent Retirement Account Number (PRAN). However, the entire Rs 200 will not be taken from the subscriber’s account at once.
From October 1, 2026, the Pension Fund Regulatory and Development Authority (PFRDA) will implement new charges for Point of Presence (PoP) entities involved in the National Pension System (NPS) and NPS Lite. These charges will be deducted by Central Recordkeeping Agencies starting from the third quarter of FY 2026-27. No distinction will be made between common schemes and schemes under the Multiple Scheme Framework (MSF).
Subscribers will now face a one-time onboarding fee of Rs 200, which will be collected as Rs 50 per quarter through CRAs, remitted to the PoP in the following quarter. For subscribers who complete registration digitally, the fee will be Rs 100, depending on the terms set by the PoP and regulator. PoP charges will not apply to dormant accounts, defined as those with no contributions for four consecutive quarters.
The minimum contribution at onboarding is Rs 250, rising to Rs 10 for subsequent contributions. Subscribers using e-NPS or D-Remit for their contributions will not have to pay PoP charges, provided their original account was opened through a PoP. Charges for 4A schemes under the NPS remain unchanged. PFRDA has mandated PoP to display the revised charge structure on their websites.
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