PFRDA:Increase Pension Coverage &Incentives Payable to POPs,NPS
PFRDA
takes a new initiative to increase pension coverage by increasing the
incentives payable to Points of Presence (POPs), the principal distributive
points for NPS.
Pension Fund Regulatory and Development Authority (PFRDA) has
taken several initiatives in the past few years to increase pension coverage in
the country, notably introducing e-NPS, reducing minimum contribution levels,
new investment instruments, aggressive life cycle funds etc. PFRDA has now taken a further step in this direction by increasing
the incentives payable to Points of Presence (POPs), the principal distributive
points for National Pension System (NPS).
Principal Distribution Point
|
Services offered
|
Current Charge
|
New Charge
|
POP
|
Initial Subscriber Registration*
|
Rs. 125/-
|
Rs. 200/-
|
Initial Contribution
|
0.25% of the contribution Min: Rs.
20/- & Max : Rs.25,000/-
|
0.25% of the contribution Min: Rs.
20/- & Max : Rs.25,000/-
|
|
All Subsequent Contribution
|
|||
All Non-Financial Transaction
|
Rs. 20/-
|
Rs. 20/-
|
|
Persistency*
|
-----
|
Rs. 50/- per annum (only for NPS-All
Citizen)
|
|
e-NPS* (for subsequent contributions)
|
0.05% of the contribution Min Rs 5/-
& Max Rs 5000/- (Only for NPS- All Citizen and Tier-II Accounts)
|
0.10% of the contribution Min Rs 10/-
& Max Rs 10000/- (Only for NPS- All Citizen and Tier-II Accounts)
|
*Changes
effected
A new incentive towards increasing persistency has been introduced
under which POPs will receive an incentive of Rs. 50/- per account per annum
for every account which continues to contribute a minimum of Rs 1000/- in a
financial year.
PFRDA believes that the renewed incentive will help in increasing
the reach of pensions in India, through the efforts of Points of presence
(POPs).
Source:PIBNEWS
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