Functions of Nodal Offices in NPS Swavalamban
Subscribers of NPS Lite in the age group of 18 to 60 can join NPS Lite through Aggregators and contribute till the age of 60. These pension contributions will be invested in various schemes of different Pension Funds appointed by PFRDA. The Subscriber’s contributions will be invested as per the scheme preference opted by the respective Aggregators. The Subscribers shall submit their contributions towards NPS through the Collection Offices (NLCC) of the Aggregators. NPS Lite Oversight Office(NL-OO)/ NPS Lite Accounts Office (NL-AO) shall upload the details of NPS contributions of the Subscribers to the NPS-Lite system. Simultaneously, NL-OO/NL-AO shall transfer the funds to NPS account maintained with Trustee bank. On the basis of contribution details uploaded by NL-OO/NL-AO, CRA will provide fund transfer instructions to the Trustee Bank as a part of settlement process. Trustee bank will transfer the funds received from NL-OO/NL-AO to different PFMs as per the details provided by CRA.
NL-OO/NL-AO shall prepare Subscribers’ Contribution File (SCF) for the pension funds and upload it to NPS-Lite system. SCF will contain details such as NL-OO/NL-AO Registration number, PRAN of the Subscriber, amount of the Subscriber contribution, etc. NL-OO/NL-AO shall prepare the SCF only for the Subscribers who are registered in the NPS-Lite system.
Hierarchy of Aggragtors under NPS Swavalamban
Major Functions of Aggregator
Aggregator with the Subscribers Aggregator shall be the primary point of interaction between the subscriber and the NPS - Swavalamban architecture.
The Aggregator shall perform the following activities for the subscriber.
1. NPS - Swavalamban Awareness: The Aggregator has an important role to play in creating awareness on the following points:
2. Subscriber Registration: Helping subscriber to register into NPS -Swavalamban.
3. Subscriber Servicing: The Aggregator is the nodal point for servicing the customer. It is responsible for processing of subscriber requests for carrying out changes in the following cases:
The Aggregator must ensure that in all cases the request for change should be supported with prescribed documents
4. Grievance Handling: Receiving of grievances submitted by the subscriber against any NPS Intermediary including aggregator:
Any other task assigned by PFRDA from time to time.