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NPS TRUST

Functions of Aggregators

National pension trust

Aggregators for NPS refer to intermediaries (like PoPs) that perform functions under NPS-Swavalamban scheme to facilitate registration, account maintenance and grievance handling.

Functions of Aggregators

Process of Subscriber Servicing

  • If you want to change your details, then you can submit a change request form with the help of aggregators. These changes can include:
    • Name update
    • Address update
    • Phone number / mobile number / email ID update
    • Bank details update
    • Change in the nomination details
    • Switch / scheme preference change request
  • Any withdrawal requests
  • Re-issuance of PRAN card
  • Subscriber Contribution Processing
  • There are four stages to processing your contribution with NPS-Swavalamban:
    • The aggregator collects your contribution towards your pension through cash or cheque. Upon collection, the aggregator issues an electronic receipt bearing an appropriate acknowledgement number.
    • The aggregator deposits the contribution received into the collection account on a T+1 day basis. T is the date of collection of money by the aggregator.
    • The aggregator prepares the Subscriber Contribution File (SCF) and uploads it into the CRA system. This is done after receiving clear funds on or before T+2 days.
    • After receiving clear funds, the aggregator remits the funds to the NPS Trust account maintained with Trustee Bank within T+2 days.
  • Redressal of grievances:
    • Aggregator constitutes an appropriate Grievance Redressal Mechanism with reference to PFRDA (Redressal of subscriber grievance) Regulations, 2015 internally for redressing complaints about the services rendered to NPS-Lite/Swavalamban subscribers. The name and telephone number of the designated Grievance Redressal officer of the ‘aggregator’ is made available to the subscriber. The designated officer should ensure that grievances of subscribers are redressed properly.
    • If you think that your complaint has not been satisfactorily addressed, you will have the option to approach the Oversight office (NLOO) and Accounting office (NLAO) of the concerned aggregator for redressal of their grievances.
    • Aggregator carries out the following set of activities in respect of receiving, entry of grievances in NPS-Lite, verification and redressal of grievances from the subscribers and other NPS-Lite Intermediaries: a. Receiving of grievances submitted by the subscriber against Aggregator or any other NPS Intermediary in the prescribed format and uploading of all grievances in the Central Grievance Management system (CGMS) of CRA lite on a daily basis. The CGMS system of CRA lite would route the grievances to respective NPS intermediaries.

You can raise your grievance to the Aggregator directly or raise it in the CGMS portal of the CRA or at the CRA call center.

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