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Function of PoP

A. Subscriber Registration

PoP/PoP-SP shall facilitate the registration of the subscriber for Tier I and Tier II account. The steps involved in the registration process are:

  1. Acceptance of forms : Accept only duly filed Composite Subscriber Registration form (CSRF) from the prospective subscriber on T+1 (T is the date of receipt of complete subscriber registration form)
  2. Verification of forms: Verify the Signed and complete form with DoB, bank, nomination, scheme details etc. Verify Know Your Customer (KYC) documents as per the norms prescribed
  3. Processing of forms: submit all accepted application forms (including supporting documents), to CRA/CRA-Facilitation Centre (FC) for digitization by hand where the PoP-SP and the CRA-FC are co-located or transmit to CRA in Mumbai by post. Delivery of Subscriber Registration Form and supporting documents to CRA/CRA-FC within T+2 from district level & T+7 from other locations (T is the date of receipt of complete subscriber registration form)

B. Initial Contribution Processing at the Time of Registration:

  1. Collect duly filled NPS Contribution Instruction Slip (NCIS) along with the application form and ensure all the relevant details are provided in NCIS by the Subscriber.
  2. Remit the clear funds, after deducting its charges and applicable tax, to the Trustee Bank on T+1 basis for the corresponding PRAN of the subscriber.
  3. Retain the ‘NCIS’ and other transaction related documents with itself.

C. Regular subscriber’s contribution

  1. PoP/PoP-SP shall perform all due diligence in accepting NCIS from subscriber and will check the PRAN no., Name, Payment details etc.
  2. Upload subscriber contribution details online into the CRA system Bank on T+1 basis for the corresponding PRAN of the subscriber. (T: date of receipt of clear funds)
  3. Remit the clear funds, after deducting its charges and applicable tax, to the Trustee Bank on T+1 basis for the corresponding PRAN of the subscriber. (T: date of receipt of clear funds)

D. Change in subscriber details

POPs provides the following NPS services to the subscriber:

  1. Change in subscriber’s personal details on T+1 basis.
  2. Change of investment scheme/fund manager on same day (T) if such request received within banking hours for public or next working day (T+1) if such request received after banking hours for public.
  3. Processing of withdrawal request on same day (T) if such request received within banking hours for public or next working day (T+1) if such request received after banking hours for public.
  4. Processing of request for subscriber shifting on T+1 basis.
  5. Issuance of printed Account statement
  6. Attend request from subscriber for the re-issue of i-pin , t-pin , PRAN card on T+1 basis.
  7. Any other services prescribed by PFRDA.

In all the above cases, T is the date of receipt of request.

E. Grievance handling

Activities carried by PoP/PoP-SP for handling grievances from the subscribers and other NPS Intermediaries:

  1. Receive and upload all grievances submitted by the subscriber in the Central Grievance Management System (CGMS) of CRA on a daily basis. The CGMS system of CRA would route the grievances to respective NPS intermediaries.
  2. If PoP/PoP-SP has grievances against any NPS Intermediary such as CRA or TB, it shall raise grievance using CGMS of the CRA or at the CRA call centre.