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Retirement Advisers

National pension trust

A retirement adviser is an individual, registered partnership firm, body corporate, or registered trust or society, who provides advice on the NPS or other pension schemes regulated by the PFRDA. Availing of the services of retirement advisor is optional.

 

Roles and Responsibilities of a Retirement Adviser

The role of a retirement adviser is not only limited to advising existing subscribers on the benefits of retirement planning through NPS, but it also extends to the following:

  • Helps potential subscribers by filling out their registration forms as part of the enrolment process, including personal details, nomination details, pension fund and investment choice under NPS.
  • Enables and assists in onboarding processes of potential subscribers and discloses all conflicts of interests as and when they arise.
  • Imparts advisory services to NPS subscribers of the manner of filling the registration form for enrolment, exit forms, various other forms required to modify or change personal master details, nomination, Point of Presence, Pension Funds, investment choice and other related activities under NPS.
  • Advices the subscribers on a periodic basis about the performance of Pension Funds, underlying asset portfolio, NAV, general financial market trend or any other relevant information through dedicated e-mail, newsletters or other specified means.
  • Creating impactful awareness about the NPS and the fund performance of each pension fund. This includes a comparative analysis of the scheme and investments that are made by pension funds. This is based on the information that is approved or made available by the concerned authority.

A retirement adviser helps plan and make an informed decision about the benefits of retirement planning through NPS by considering the following factors:

  • Due understanding of your requirements to suggest you the most suitable product by collecting basic information of the prospects such as information pertaining to age, marital status, dependents, current assets, liabilities, income, planned purchases, planned retirement age; plans post-retirement, family history of health and longevity and the current health position.
  • Understanding your financial and retirement goals.
  • Analyzing your current financial situation and current investments.
  • Your Risk profiling
  • Asset Allocation.
  • Investment allocation strategy.
  • Periodic monitoring and balancing.
  • Likelihood of immediate and near future financial commitments of either self or family.

Online Retirement Adviser Registration

The documents required to register as a retirement adviser are different for an individual and a non-individual. Let's see the list below:

Requirements to register as an individual retirement adviser

  • Aadhaar for eKYC through OTP authentication (Aadhaar should be registered with a mobile number)
  • PAN card
  • Valid email address
  • Graduation certificate
  • NISM certificate or FPSB certificate or SEBI investor adviser - Certificate of Registration
  • Proposed business plan
  • Process of risk profiling for subscribers accessing suitable advice
  • Details regarding office infrastructure and communication facilities for undertaking retirement advisory services
  • Credit report (credit score of more than 700; report not older than 6 months)
  • Signature in the required format for e-signing the application form

Requirements to register as other than an individual retirement adviser

  • Tax account number of registering entity
  • PAN card
  • Aadhaar card
  • Graduation certificate of directors / partners / proprietors / members / trustees
  • NISM certificate or FPSB certificate or SEBI investor adviser - Certificate of Registration
  • Proposed business plan and means of achieving it
  • Details of the shareholding pattern of the applicants (shareholding of 5% and above)
  • Process of risk profiling for subscribers accessing suitable advice
  • Details regarding office infrastructure and communication facilities for undertaking retirement advisory services
  • Credit report for applicants other than financial institutions and banking companies (credit score of more than 700; report not older than 6 months)
  • Assets and liabilities or a net worth certificate issued by a Chartered Accountant, along with the membership number of the Chartered Accountant (not more than 6 months old)

You need to fulfill all the above-mentioned requirements to be able to register as a retirement adviser, either as an individual or a non-individual.

View retirement adviser regulations List of RA's

Important FAQs

Where can I make an application to get registered as a retirement adviser?
Do I have to upload all the documents and other details in the online process?
Can an incorporated company be my retirement adviser?
Can my retirement adviser help me with asset allocation?
Do I need to submit the physical application post applying through an online process?
For detailed FAQs, please visit
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