Functions of PoP

The Government of India (GOI) has rolled out the NPS for all citizens from 1st May 2009. Hence, various facilities (like opening Permanent Retirement Account, contributing to NPS etc) will be required to be provided to all the citizens (known as ‘Subscribers’ in the NPS architecture) at various locations across India. These processes shall be carried out through the entities known as Points of Presence (POPs) appointed by the PFRDA. POPs’ shall provide the services under NPS through their network of branches called POP Service Providers (POP-SP).

POPs are responsible to provides various NPS services to subscriber including

  • Subscriber Registration
  • Regular subscriber’s contribution
  • Change in subscriber details
  • Change of investment scheme/fund manager
  • Processing of withdrawal request
  • Processing of request for subscriber shifting
  • Issuance of printed Account statement
  • Any other service prescribed by PFRDA

For interfacing with CRA system, according to their convenience, a POP  can opt any one of the following models of operation at the time of registration in the CRA system:

  • Centralised Model : All the activities related in the CRA system will be carried out by the POP
  • De-centralised model: All the activities in the CRA system will be carried out by POP- SPs and POP will act as oversight mechanism
  • Quasi-Centralised Model: All the activities except fund transfer will be carried out by the POP- SPs. Fund Transfer to trustee Bank will be done by POP

* Further, Centralised Model is split into three sub models i.e., Model - A, Model - B and Model - C on the basis of the functions being performed by the POP and POP-SPs.

The roles of POP and POP-SPs under each mode of operation are given below:

Centralised Model:

Uploading/Capturing Entity in each sub mode within Centralized model
Functionality Model  A Model B Model C
Contribution Upload/Fund Transfer POP POP POP /POP-SP
MIS Upload POP POP POP-SP
Subscriber Details Update (Both Tier I & II) POP POP-SP POP-SP
IPIN-TPIN / PRAN Request POP POP-SP POP-SP
Withdrawal Request POP POP-SP POP-SP
Subscriber Shifting Request POP POP-SP POP-SP
TIER 2 Activation POP POP-SP POP-SP
Grievance Raising/Resolving POP / POP-SP POP/POP-SP POP/POP-SP
Option to view/generate Statement of Transaction /Statement of Holding

POP

POP-SP

POP-SP

De-centralised and Quasi-Centralised Model

Uploading/Capturing Entity in each mode
Functionality De-centralized Quasi-Centralized
Contribution Upload POP-SP POP-SP
Fund Transfer to Trustee Bank POP-SP POP
MIS Upload POP-SP POP-SP
Subscriber Maintenance POP-SP POP-SP

 

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