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Applicable fees and charges levied on NPS Subscribers

Intermediary
Charge head
Service Charges*
Private
Govt.
Lite/APY

CRA

PRA Opening charges
NSDL Rs 40   or   Karvy Rs 39.36
Rs 15
Annual PRA Maintenance cost per account
NSDL Rs 95   or   Karvy Rs 57.63
NSDL Rs 25 or Karvy Rs 14.40
Charge per transaction
NSDL Rs 3.75 or  Karvy Rs 3.36
Free

POP

Initial subscriber registration and contribution upload
Rs. 200
NA
NA
Any subsequent transactions
0.25%  of contribution,
Min. Rs 20 Max. Rs 25000
Non-Financial Rs 20
NA
NA
Persistency
> 6 months & Rs 1000 contribution
Rs 50 per annum
NA
NA
Contribution through eNPS
0.10% of contribution,
Min. Rs 10 Max. Rs 10000
NA
NA

Trustee Bank

 
NIL

Custodian

Asset Servicing charges
0.0032% p.a for Electronic segment & Physical segment

PF charges

Investment Management Fee
0.01% p.a.

0.0102% p.a.

NPS Trust

Reimbursement of Expenses
0.01% p.a

* In case of Government employees, CRA charges are being paid by the respective Governments.

International Comparison of Fees/Charges under NPS

International Organisation of Pension Supervisors (IOPS) in its Working Paper 6 “Comparison of Costs + Fees in Countries with Private Defined Contribution Pension Systems” published by Denise Gomez Hernandez and Fiona Stewart had introduced the concept of “Charge Ratio” and “Equivalent Asset Fee” for enabling standardized international comparison of fees due to existence of diversity of charges across countries.

“Charge Ratio” measures the impact that any type of administrative charge can have on the final balance (after 25 or 40 years) of an individual retirement account compared to the hypothetical balance that could be obtained if no administrative fees were charged at all.

“Equivalent Asset Fee” is the annualized charge over assets which would have generated exactly the same final asset accumulation as the actual combination of charges on flows entering the individual account, on the accumulated assets and on the returns applied to the individual retirement account as well as any entry or exit charges applied to an individual retirement account during a certain period of time.
 

Charge Ratio and Equivalent Asset Fee under NPS

Particulars
Private
Government
Lite/APY
Charge Ratio
4.75%
0.72%
0.93%
EAF
0.169%
0.025%
0.032%

Assumptions
Monthly Contribution – Rs 1000
Return on Contribution – 8%
Contribution Period – 40 years
Maximum of CRA charges