PFRDA Updates Point of Presence Charge Framework for NPS and NPS Lite: Key Changes Effective October 1, 2026

The Pension Fund Regulatory and Development Authority (PFRDA) has issued a revised charge structure governing Points of Presence (PoPs) across all schemes under the National Pension System (NPS) and NPS Lite, effective 1 October 2026. The revision was communicated through Circular No. PFRDA/2026/46/REG-POP/08 dated 28 August 2026, addressed to all PoPs, Central Record Keeping Agencies (CRAs), and other relevant stakeholders.

This update carries significant implications for subscribers, PoPs, and CRAs alike, reshaping the fee landscape for one of India's most widely used retirement savings platforms.

Regulatory Foundation

The authority to prescribe charge limits for PoPs flows from Regulation 16 of the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018, which stipulates that charges collected by a PoP from subscribers must remain within the limits, mode, and manner of collection as permitted by the Authority.

The circular has been issued in the exercise of powers granted under sub-section (1) of Section 14 read with clause (e) of sub-section (2) of Section 14 of the Pension Fund Regulatory and Development Authority Act, 2013, with the stated objective of protecting subscriber interests and promoting the development of the pension industry.

Trigger for Revision: Scheme Classification Overhaul

A key catalyst for this charge structure revision is a parallel regulatory development. PFRDA's Circular dated 28 August 2026 on the "Standardised framework for classification and presentation of Schemes under the National Pension System (NPS)" eliminated the earlier distinction between Common Schemes and those introduced under the Multiple Scheme Framework (MSF). This consolidation necessitated a corresponding revision of the PoP charge structure to ensure consistency across all NPS scheme categories.

Revised Charge Structure: Applicable from 1 October 2026

The following table summarises the charges prescribed under the new framework for All Schemes under NPS and NPS Lite:

One-Time Onboarding Charge