PFRDA has changed the fee rules for Central Recordkeeping Agencies (CRAs). These rules are for NPS, Atal Pension Yojana, NPS-Lite, and Unified Pension Scheme. The new rules will start on October 1. They will replace the old rules of June 2020.
Government Sector (NPS and UPS)
PRAN opening fee:
- e-PRAN kit: ₹18
- Physical PRAN card: ₹40
- Annual fee: ₹100 per account
- Zero balance account: No charge
Transaction fee: Nil
Atal Pension Yojana and NPS-Lite
- PRAN opening fee: ₹15
- Annual fee: ₹15
- Transaction fee: Nil
Private Sector (NPS and NPS Vatsalya)
PRAN opening fee:
- e-PRAN kit: ₹18
- Physical PRAN card: ₹40
- Transaction fee: Nil
Annual Fee (based on Tier I balance)
- Nil balance: No fee
- ₹1 – ₹2,00,000: ₹100
- ₹2,00,001 – ₹10,00,000: ₹150
- ₹10,00,001 – ₹25,00,000: ₹300
- ₹25,00,001 – ₹50,00,000: ₹400
- Above ₹50,00,000: ₹500
Main Points
- These are maximum charges. CRAs cannot take more, but they can take less.
- In private sector, annual fee depends on balance.
- For UPS (government), charges apply only in saving period. Charges for pension period will come later.
- New services will be charged at real cost and need PFRDA approval.
- All charges will be shown on CRA websites and apps. If fees are less, more money will be invested. If fees are more, costs will rise a little.