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CIR No: PFRDA/2026/10/SUP-POP/02 Dated: 27th February, 2026
CIRCULAR
To,
All Point of Presence (PoPs-APY)
Subject: Guidelines for Operational Activities - to be followed by Point of Presence (PoPs)
performing activities of Atal Pension Yojana (APY)
In exercise of the powers conferred under Section 14 of Pension Fund Regulatory and
Development Authority Act, 2013 read with Chapter VII of Pension Fund Regulatory and
Development Authority (Points of Presence) Regulations, 2018 and amendments thereof,
(hereinafter referred as “PoP Regulations”) following guidelines are being issued for compliance
by all Points of Presence registered under Regulation 3 (1) of PoP Regulations (hereinafter
referred to as ‘PoP-APY’). Each PoP-APY shall adhere to the revised guidelines in all its
operational activities with respect to APY. These guidelines shall be effective from 1st April 2026
and shall supersede the existing guidelines. The first reporting under these guidelines shall be
applicable from Half-Year ending on September 2026 onwards.
The detailed guidelines covering following points are enclosed along with this circular.
A. Service Standards
B. Standard Operating Procedures.
C. Subscriber On-boarding Procedure
D. Contribution Management Procedure
E. Reports and Disclosures.
F. Redressal of grievances.
G. Exit processing
H. Other Functions
All entities are advised to update their system and processes to follow the operational
guidelines issued by the Authority.
(Ashish Kumar)
Chief General Manager
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 1GUIDELINES ISSUED UNDER SECTION 14 OF THE PENSION FUND REGULATORY AND
DEVELOPMENT AUTHORITY, ACT, 2013 READ WITH THE PENSON FUND REGULATORY AND
DEVELOPMENT AUTHORITY (POINT OF PRESENCE) REGULATIONS 2018 (AS AMENDED) IN
RESPECT OF THE POINT OF PRESENCE REGISTERED UNDER THE REGULATION 3(1)(b)
THEREOF.
In exercise of the powers conferred under Section 14 of Pension Fund Regulatory and
Development Authority Act, 2013 read with Chapter VII of Pension Fund Regulatory and
Development Authority (Points of Presence) Regulations, 2018 and amendments thereof
(hereinafter referred as “PoP Regulations”), more particularly Regulation 15, the following
guidelines are being issued for compliance by all Points of Presence registered under
Regulation 3 (1) (b) of Pension Fund Regulatory and Development Authority (Point of
Presence) Regulations, 2018 and amendments thereof:
Regulation 3(1)(b) - Atal Pension Yojana (APY) (hereinafter referred in these Guidelines as
‘PoP-APY’ for convenience of reference).
These guidelines shall be effective from 01st April, 2026 and shall supersede the existing
guidelines. Notwithstanding such supersession, anything done or any action taken under or in
terms of the said guidelines, shall be deemed to be valid and have effect, for the period, when
such guidelines was in force and remains applicable. The present guidelines may be modified
by the Authority from time to time depending upon the service requirements/amendments in
the Regulations, if any.
PoPs shall display these guidelines on its website/intranet.
A. Service Standards
[1] PoP-APY shall follow the ‘Service Standards’ for all activities under APY as specified in
the Schedule of these guidelines for providing the services to subscribers/prospects of APY in
mode and manner specified therein.
[2] PoP-APY shall deduct the contributions from the Savings Bank accounts of subscribers
enrolled under Atal Pension Yojana (hereinafter referred to as ‘APY’) in accordance with
Schedule.
[3] PoP-APY shall provide subsequent services such as upgradation and down gradation
of pension amount, shifting of PoP-APY, change in personal details of subscribers, processing
of death claims, voluntary exit requests or any other requests introduced by the Authority, in
accordance with Schedule.
[4] PoP-APY shall be liable to compensate the affected subscribers in the event of any
delay or violation on part of the PoP-APY in performing the Service Standards, as specified
under Schedule on receipt of claim from the subscribers. Besides the delay in TATs as specified
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 2in Schedule, in case of any loss suffered by a subscriber due to any other operational lapse by
PoP-APY like wrong inputting of DOB and pension amount etc, PoP-APY make good the loss,
on claim filed by the subscriber.
[5] PoP-APY shall resolve the grievances of the subscribers in accordance with Pension
Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations,
2015 and any amendments thereof.
[6] In accordance with PFRDA (PoP) Regulations, 2018 and amendments thereof, PoP-APY
may engage the services of other service providers or banking correspondents, for facilitating
the distribution of pension schemes as facilitators and shall ensure the following while
associating with any facilitators:
(i) The terms and conditions of operations between PoP-APY and facilitator(s) shall be
mutually agreed upon and shall be in accordance with Pension Fund Regulatory and
Development Authority (Points of Presence) Regulations, 2018 and subsequent
amendments thereof and any other instructions issued by the Authority from time to
time.
(ii) PoP-APY shall ensure flow of information facilitators to PoP-APY in such a way that
all Turn Around Times (TATs) as specified under service level standards in Schedule
are adhered to, without any delay or deviation.
(iii) PoP-APY shall ensure that the facilitators should contact or communicate only with
the associated PoP on all matters and any direct communications with the Authority
shall not be entertained.
(iv) PoP-APY shall compile and submit the specified MIS reports to the Authority on
behalf of all its associated facilitators. Facilitator shall not directly submit any MIS
report / information to the Authority.
[7] PoP-APY shall have the necessary checks and balances in its system in order to ensure
non-opening of multiple APY accounts for the same subscriber.
[8] PoP-APY shall display Atal Pension Yojana (APY) – Subscriber Information Brochure on
its website and/or at branches, as the case may be.
[9] PoP-APY shall make available all APY related forms, as specified by the Authority from
time to time, on its website and/or at branches, as the case may be.
[10] PoP-APY shall adhere to the regulations, circulars, guidelines, directions, advisories or
any other instructions issued by the Authority from time to time. Further, PoP-APY shall
adhere to any notification issued by Government of India on APY, including GOI notification
dated 16th October 2015, and notification dated 11 May 2017.
B. Standard Operating Procedures
PoP-APY shall adhere to the Standard Operating Procedures (SOPs), for interfacing with
Central Record Keeping Agencies (CRAs), Trustee Bank (TB) and/or the Authority for
operational activities with respect to APY.
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 3C. Subscriber On-boarding Procedure
PoP-APY shall follow the service requirements for on-boarding of subscriber under APY as
specified in the Schedule.
D. Contribution Management Procedure
PoP-APY shall collect and process the contributions as per the service requirement specified
in the Schedule. PoP-APY shall comply with the following procedures and parameters to
ensure transparency, uniformity and risk minimization:
[1] APY contribution collection process
(i) PoP-APY shall ensure that credible collection infrastructure is available for its
underlying subscribers.
(ii) PoP-APY shall open or have a collection account in the name of “Name of the PoP
or its abbreviation –Collection Account – Name of pension scheme or its abbreviation
– National Pension System Trust or its abbreviation” or as specified under Pension
Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
and amendments thereof from time to time.
(iii) As an illustration, if State Bank of India is registered with the Authority for
performing activities of APY, the collection account may be in the name of “SBI-
Collection Account - APY - NPS Trust”. The collection account shall be a non-
withdrawable account, with an option to transfer the funds to NPS Trust account. In
exceptional cases such as wrong entries, unidentified entries or amount not pertaining
to subscriber contribution, it may be credited to any other account as may be specified
by the Authority through guidelines/circulars and any other instructions issued by the
Authority from time to time. The a uthority to transfer the collection amount will reside
with the PoP. PoP shall also record reasons for such transfers in writing and the same
is subject to audit and inspection.
(iv) PoP-APY may have a collection account with itself if it is a banking entity or with
any scheduled commercial bank, if it is a non-banking entity.
(v) PoP-APY shall ensure issuance of acknowledgement slip / receipt with unique
number (preferably electronic receipt) to the subscribers at the time of registration.
PoP-APY shall ensure to intimate the subscribers about the subsequent contributions
through SMS, e-mails or any other electronic mode.
(vi) PoP-APY shall run the debit cycle as mentioned in Schedule of these guidelines in
order to ensure deduction of subscriber’s contribution from the savings bank account
of the subscriber under APY.
(vii) In case of subsequent contributions, PoP-APY shall run the debit cycle once for all
APY subscribers within first ten calendar days of the month / quarter / half year, as
the case may be. Post completion of first debit cycle, PoP-APY shall continue to raise
demand on all working days till the collection of contribution from the saving bank
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 4account of all such subscribers. Periodic contribution as per the frequency opted by
subscribers shall be debited on FIFO basis i.e. - due instalment shall be recovered first
along with the fixed amount of overdue charges as applicable from time to time.
Overdue charges shall become payable by the subscriber, if the contribution could not
be collected from the saving Bank account of the subscriber in the first month,
notwithstanding the fact that the chosen frequency of remittance is quarterly or half
yearly.
[2] Pooling of contribution in the single designated collection account
(i) PoP-APY shall ensure that no funds remain un-reconciled in the collection account.
It shall also ensure that the details of all contributions received in collection account
are uploaded into CRA system and ensure remittance of the funds to the Trustee Bank,
as per the timelines prescribed under Schedule.
(ii) PoP-APY shall maintain branch-wise, complete audit trail of all transactions
processed under APY including receipt of APY registration form, PRAN
generation/activation, issuance of acknowledgement receipt, deduction of
contribution, SCF upload, fund remittance to the Trustee Bank, receipt of Government
Co-contribution by it, if any, credit of Government co-contribution into the respective
savings bank account of the subscribers, refund of un-utilized Government Co-
contribution to the PFRDA, receipt of forms at the nodal office, receipt and processing
of other subsequent requests, receipt of exit forms at branch and/or nodal office etc.
along with date of such transactions.
[3] Risk and Fraud Mitigation Measures
(i) PoP-APY shall have robust and efficient mechanisms for the identification,
assessment, quantification, control, mitigation and monitoring of the risks associated
with all the activities related to APY.
(ii) PoP-APY shall have necessary control to avert the risk relating to Anti Money
Laundering (AML) or Combating Financing of Terrorism (CFT) and shall be guided by
the circulars, guidelines, directions, advisories etc. issued by the Authority from time
to time.
(iii) PoP-APY shall monitor the functioning and processing of the collection account on
daily basis.
(iv) PoP-APY shall ensure adequate vigilance and due diligence in subscriber
registration, the entire fund collection process, and at the time of exit, and shall
receive withdrawal/exit requests along with all prescribed documents.
(v) The compliance officer of the PoP-APY shall regularly review internally the
compliance of the Act, rules and regulations, notifications, circulars, guidelines,
directions, advisories etc. issued by the PFRDA/GoI from time to time, on periodic
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 5basis or more frequently, if required, and record of the same shall be maintained. Any
deviations in this regard shall be unconditionally reported to the Authority.
(vi) PoP-APY shall take all measures necessary for prevention of all forms of fraud and
develop and follow PFRDA’s (Framework for Prevention and Reporting of Fraud Under
NPS Architecture) Guidelines and amendments thereof.
(vii) PoP-APY shall lay down internal controls to be followed and ensure that such
controls are adequate and operating effectively; and
(viii) PoP-APY shall make provision for indemnifying the subscriber for any loss on
account of fraud or negligence on the part of the point of presence or its other service
providers or banking correspondents, which has been established.
E. Reports and Disclosures
[1] PoP-APY shall submit duly checked and verified reports to Supervision department - PoP,
PFRDA through the mode(s) as specified by the Authority from time to time:
(i) The Exception Report on all activities (as per Annexure 1) shall be submitted within
30 (thirty) days from the end of the respective reporting period. The reporting
frequency will be based on the PoP’s subscriber base as on the last Financial Year, as
under (Such a list of PoPs, based on their subscriber base, shall also be made available
on PFRDA’s website):
(a) PoPs-APY with subscriber base of 1,00,000 and above – to submit the Exception
Report on a Half – Yearly basis
(b) PoPs with subscriber base of less than 1,00,000 – to submit the Exception
Report on Annual basis.
Note: Notwithstanding the above periodic reporting, compliance officer of the PoP
shall report any major deviation/breach to the Authority on occurrence basis.
(ii) Cyber Security Certificate in accordance with applicable circular on [Annual Cyber
Security Compliance certificate (as per Annexure 2)] within 30 (thirty) days from the
end of the Financial Year. Report on cyber-attacks incident pertaining to APY activities,
if any are to be submitted in terms of the Information and Cybersecurity Policy of
PFRDA.
[2] The details of APY related activities undertaken by facilitators /any other channel
approved by PFRDA or Government of India shall also be included by the PoP-APY in the
report mentioned above.
[3] PoP-APY shall submit the details/reports as may be specified by PFRDA from time to time.
(All the above-mentioned reports shall invariably be duly checked and verified by the
Compliance Officer.)
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 6F. Redressal of grievances
[1] PoP-APY shall maintain Grievance Redressal Mechanism internally as per Pension Fund
Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015
and amendments thereof for redressing complaints with respect to the services rendered to
APY subscribers. The name, e-mail id/s and telephone number/s of the designated Grievance
Redressal Officer (GRO) of the PoP/service provider branches/offices shall be made public
through display on website preferably and/or at branches. The GRO shall ensure that the
grievances of subscribers are redressed effectively and expeditiously.
[2] PoP-APY shall monitor grievances lodged in Centralized Grievance Management System
(CGMS) portal on daily basis and it shall ensure that those grievances are resolved on
immediate basis.
[3] PoP-APY shall display contact details of grievance redressal cell for receiving the grievances
directly from the mapped subscribers and shall be responsible for uploading such grievances
received directly from the mapped subscribers and other intermediaries into CGMS portal of
CRA, and ensure redressal of the same within the timeline specified in Pension Fund
Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015
and amendments thereof. PoP shall also maintain the record of grievance received directly
from the subscriber in physical or digital mode.
[4] PoP-APY shall lodge its grievance, if any, against any intermediary such as CRA or Trustee
Bank in C GMS.
[5] Top management of PoP shall review grievances under APY as specified by the Authority
for the quality of resolution to be apprised to the Board of the PoP.
[6] POP-APY shall devise a mechanism for reporting quality of grievance resolution observed
by the top management to the Board of PoP. Such report should inter-alia include number of
grievances received by the PoP over a period, number of grievances resolved by it; number of
cases where appeals have been filed, Turn Around Time (TAT) taken for grievance resolution
and report regarding review of quality of resolution of top management.
[7] PoPs-APY are required to comply with and take necessary action on communications
issued by the NPS Trust and/or the Ombudsman.
G. Exit processing
[1] All the exit cases shall be processed as per guidelines issued by PFRDA/GoI from time to
time.
[2] PoP-APY shall check the status of the bank account of the subscriber linked to the APY
account before processing the exit cases and shall not process the exit without ensuring that
active savings bank account is available for crediting the closure proceeds.
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 7[3] PoP-APY shall sensitize subscribers to not close the savings bank account till the credit of
exit proceeds of APY.
[4] PoP-APY shall ensure proper credit of the final withdrawal proceeds in savings bank
account of the subscriber, to his satisfaction.
H. Other Functions
[1] Appointment of Compliance Officer, Designated Director and Principal Officer
(i) PoP-APY shall appoint Compliance Officer, Designated Director and Principal
Officer as per proviso under regulation 21 of Pension Fund Regulatory and
Development Authority (Points of Presence) Regulations, 2018 and amendments
thereof. The Compliance Officer shall be responsible for monitoring compliance under
APY including provisions of the PFRDA Act 2013, rules, regulations, notifications,
circulars, guidelines, directions, advisories and any other instructions issued by the
Authority from time to time.
(ii) PoP-APY shall ensure that any change in the above-mentioned officers is
communicated to the Authority within 3 (three) working days of the same as per
format (Annexure 3). Further, frequent change of compliance officer may be avoided
to ensure the continued monitoring and compliances. POP to also ensure proper
handover takeover of the duties, in case of any such changes.
(iii) The latest details available with the Authority in respect of the Compliance Officer
of the PoP-APY shall be considered for serving any notice(s) or taking any regulatory
action(s) in case of any breach of any regulations and operational guidelines as
envisaged under the extant Regulations.
[2] Display of list of Service Provider Branches
PoP-APY to ensure that the list of Service Provider Branches performing the activities of APY
shall be made available on its website.
[3] Confidentiality
PoP shall maintain absolute confidentiality with respect to all records, data and information
received by it in accordance with PFRDA (Point of Presence) Regulations, 2018 and
amendments thereof from time to time.
[4] IT and cyber security requirements:
PoP-APY shall have adequate IT infrastructure at all its branches, registered for carrying out
activities under APY, prescribed under the PFRDA Act, 2013, Rules, Notifications, guidelines
etc.
(i) For access to CRA system, the concerned PoP-APY shall:
a. Have regular and uninterrupted internet connectivity for web-based
interaction;
b. Have demonstrated capability to electronically transmit the information
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 8related to APY subscriber contribution through Subscriber Contribution
Files (SCFs) as per the specified timelines;
c. Have adequate systems with Operating System (OS), web browsers at all
its branches and back-office software for:
I. Receiving transactions requests and uploading in the CRA system;
II. Issuance of acknowledgement with unique ID against receipt of
subsequent contribution and all other activities; and
III. Monitoring status of each transaction and generating regular MIS
reports for internal control purposes.
(ii) It shall be the responsibility of the PoP-APY to utilize the IT infrastructure and act
on the basis of views and reports made available by CRA for providing quality service
delivery to the APY subscribers.
(iii) PoP-APY shall ensure timely completion of the APY module development as per
the direction/s from the Authority from time to time.
(iv) PoP-APY shall ensure compliance of cyber security policy and submit the reports
as determined by the Authority from time to time.
[5] Compliance with respect to other guidelines
PoPs-APY shall follow the Guidelines, Circulars, Notifications, Advisories and
Directions issued by the Authority from time to time and any other law in force while
performing the activities related to Point of Presence.
Referred circulars and other relevant documents are available at www.pfrda.org.in.
*********************************************
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 9SCHEDULE: Service Standards for PoP-APY
Types of Service Requirements Turn Around Time Compensation
Activities payable in case of
delay by POP-APY
1. Registration of subscriber under APY
a. Subscriber i. PoP-APY / Branches of PoP-Maximum T+2, Where For each delayed
registration APY / BCs/ Facilitators shall T is the receipt of transaction at PoP-APY
promptly address the queries Subscriber / Branches of PoP-APY
of potential subscribers Registration Form / BCs/ Facilitators, PoP-
regarding APY. (SRF) at PoP-APY / APY shall pay: @ 8%
Branches of PoP-APY / p.a. of the initial
ii. The PoP-APY / Branches of BCs/ Facilitators contribution amount
PoP-APY / BCs/ Facilitators including correction of rounded off to next
shall collect dully filled in discrepancies. integer value, for the
Subscriber Registration Form period of delay (This
(SRF) and simultaneously carry amount should be
out customer due diligence credited to the
procedures in adherence to subscriber’s PRAN)
Prevention of Money
Laundering Act, 2002 through
effective use of Know Your
Customer Verification
Processes and also in
compliance of guidelines/
circulars/ directions/
notifications issued by the
PFRDA / GOI from time to
time.
iii. PoP-APY / Branches of PoP-
APY / BCs/ Facilitators shall
affix the receipt date and time
on the SRF.
iv. Enter the subscribers’
details into the APY module
available under CBS.
v. In case of any discrepancy
found during the collection or
verification of SRF or
activation of PRAN allotted to
the subscriber or during
customer due diligence, PoP-
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 10APY/ Branches of PoP-APY /
BCs/ Facilitators shall:
a. Coordinate with the
applicant to rectify the
discrepancies found by
promptly calling information
from the applicant or getting
the new form filled, if
required.
b. In case of rejection, reasons
to be provided to applicant in
writing.
vi. PoP-APY / Branches of PoP-
APY / BCs/ Facilitators shall
provide acknowledgement
slip / receipt along with
receipt date and
stamp/signature to the
subscriber.
vii. PoP-APY shall ensure the
timely communication of
PRAN to subscribers in
written and confidential
manner.
viii. PoPs using BC mode must
ensure that information
captured are as per the
details mentioned in the bank
CBS.
ix. PoP shall ensure that KYC
details of all the subscribers
uploaded onto the CRA
system are strictly as per the
details available in the CBS.
x. PoP shall use the latest SRF
for registration.
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 112. Contribution Processing
a. Collection PoP-APY shall put Standing Maximum T+1, Where For each delayed
and Instruction based on the T is the activation date transaction at PoP-APY
processing of frequency opted by of PRAN by CRA / Branches of PoP-APY,
initial subscribers and initiate the PoP-APY shall pay:
contributions first deduction from the @8% p.a. of the
savings bank account of the contribution amount
subscriber. rounded off to next
integer value, for the
period of delay. (This
amount should be
credited to the
subscriber’s PRAN)
b. Collection i. PoP-APY shall run the debit i. PoP-APY shall run PoP-APY shall pay the
and cycle once for all APY the debit cycle once overdue interest (ODI)
processing of subscribers within first ten for all APY subscribers as per ODI rates
subsequent calendar days of the month / within first ten determined by the
contributions quarter / half year, as the case calendar days of the GOI/Authority from
may be. month / quarter / half time to time, in case
year, as the case may the subsequent
ii. Post completion of first be. contributions file is
debit cycle, PoP-APY shall uploaded post the
continue to raise demand on ii. Post completion of stipulated time in CRA
all working days till the first debit cycle, PoP- system.
collection of contribution from APY shall continue to
the savings bank account of all raise demand on all
such subscribers. working days till the
collection of
iii. Periodic contribution as per contribution from the
the frequency opted by savings bank account
subscribers shall be debited on of all such subscribers.
FIFO basis i.e.- due instalment
shall be recovered first along
with the fixed amount of
overdue charges as applicable
from time to time.
c. Upload of i. PoP-APY shall prepare Maximum T+2, where For each delayed
SCF and and upload SCF into CRA T is the date of transaction at PoP-APY
remittance of system. deduction of / Branches of PoP-APY,
initial and subscriber’s PoP-APY shall pay:
subsequent ii. The transaction id thus contribution from @8% p.a. of the
contributions generated shall be entered by savings bank account. contribution amount
the PoP-APY in the NEFT/RTGS rounded off to next
window while remitting the integer value, for the
contributions to Trustee Bank period of delay. (This
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 12amount should be
credited to the
subscriber’s PRAN)
3. Processing of Service request(s)
a. Subscribers’ i. PoP-APY / Branches of Maximum T+5, where For each delayed
service PoP-APY shall provide T is the date of receipt transaction at PoP-
request(s) acknowledgement slip / of service request at APY/ Branches of PoP-
receipt with unique number the APY, PoP-APY shall pay:
along with receipt date and branches/nodal office, @Rs. 5/- per day
stamp/signature to the provided that all the subject to maximum
subscriber. necessary documents Rs. 100. (This amount
have been furnished/ should be credited to
ii. PoP-APY / Branches of provided in totality. the subscriber’s PRAN)
POP-APY shall upload and
process the service request(s)
as per the SOP (Standard
Operating Procedure)
provided by CRAs at their
portal Further, PoP shall
ensure that all
modification/service request
should be supported by
relevant documents.
4. Grievance Management and Exit processing
a. Grievances i. POP –APY / Branches of As per the PFRDA As per the PFRDA
received from PoP-APY should check CGMS (Redressal of (Redressal of
APY portal on daily basis. subscriber grievance) subscriber grievance)
subscribers/ Regulations, 2015 and Regulations, 2015 and
prospects ii. PoP-APY / Branches of PoP- if, any amendments if, any amendments
APY shall receive and upload thereto. thereto.
grievances, if received directly
or through other
intermediary, into CGMS at
CRA portal on the same day.
iii. PoP-APY / Branches of
PoP-APY shall resolve the
grievances received in CGMS
in accordance with the
relevant regulations but
efforts may be made to
resolve the same at the
earliest.
i. Voluntary exit: Maximum T+7, where i. For each delayed
T is the receipt of such transaction at PoP-APY
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 13b. Processing a. PoP-APY / Branches of PoP- forms along with / Branches of PoP-APY,
of exit APY shall provide supporting including delay due to
requests acknowledgement slip documents, if any as wrong/in-correct
/receipt with unique number prescribed therein. processing, PoP-APY
along with receipt date and shall pay: @ 8% p.a. of
stamp / signature to the the exit proceeds
subscriber. amount rounded off to
next integer value, for
b. PoP-APY shall check the the period of delay.
status of the bank account of (This amount should be
the subscriber linked to the credited to the
APY account before processing subscriber’s savings
the exit cases and shall not bank account)
process the exit without
ensuring that active savings ii. In case the loss to
Bank account is available for subscriber is more
crediting the closure proceeds. than the
compensation
c. PoP-APY / Branches of PoP- applicable, then PoP-
APY shall upload and process APY shall make good
the exit requests as per the the loss and credit the
SOP (Standard Operating same to the
Procedure) provided by CRAs subscriber’s savings
at their portal. bank account.
d. PoP shall use only PFRDA
prescribed form for processing
exit request.
e. PoP shall put in place
adequate system controls to
ensure that the linked savings
bank account remains active
until the APY exit proceeds are
credited, so as to prevent
return of funds arising from
closure of the account prior to
such credit.
ii. Exit due to death: Maximum T+12,
where T is the receipt
a. POP-APY / Branches of POP- of such forms along
APY shall provide with all supporting
acknowledgement slip documents as
/receipt with unique number prescribed therein.
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 14along with receipt date and
stamp / signature.
b. POP-APY / Branches of POP-
APY shall upload and process
the exit requests as per
the SOP (Standard Operating
Procedure) provided by CRAs
at their portal.
c. PoP shall exercise
appropriate due diligence and
obtain all prescribed
supporting documents to
ensure that death claims are
processed in accordance with
the prescribed guidelines and
the proceeds are credited to
the rightful beneficiary
(claimant).
d. PoP shall use only PFRDA
prescribed form for processing
exit request for death claims.
Note: The working days are to be considered for calculation of T and the prescribed TATs
indicate the maximum timeframe prescribed for particular activities. However, PoP-APY shall
ensure carrying out the activities in fastest possible time.
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 15Annexure -1
Exception Report for the Half-Year/ Financial Year ended ……….……… (as applicable)
[To be submitted by PoP-APY through modes as specified the Authority from time to time
within 30 calendar days from the end of the Half-Year/ Financial Year]
PoP Registration Number: CERSAI-CKYCR Registration Number:
-------------------------------------------- --------------------------------------------
CERSAI-BUDS Registration Number: FINNET 2.0 Registration Number:
-------------------------------------------- --------------------------------------------
I certify that M/s …………….. (Name of the PoP-APY) has complied with the provisions of the
Pension Fund Regulatory and Development Authority Act, 2013, PFRDA (Point of Presence)
Regulations, 2018 (as amended), the Guidelines, Circulars, Notifications and Directions issued
by the Authority from time to time and any other law in force while performing the activities
related to Point of Presence.
I further certify that M/s …………….. (Name of the PoP-APY) has adhered to TAT applicable for
various activities as laid down in Schedule of the operational guidelines. Compensation has
been credited to the PRANs of affected subscribers (bank account in case of closure of PRAN)
on receipt of claim, in case of delays in processing activities during the above-mentioned
period. The list of delays for the claims received from the subscribers are mentioned in Section
A of the report.
Section A: Delays in processing activities during the Half-Year/ Financial Year ended ………
(as applicable) (Beyond prescribed TAT)
(Amount in INR)
Sl. Type of activities Number of Amount of Compensation Reasons for non- In case of non-
No And Existing claims claims amount paid by payment of payment,
TATs received for the PoP Compensation whether reported
received for
compensation Amount to PFRDA, if yes,
compensation
please specify
date of
communication
1 Subscriber
registration
TATs: As
specified in the
Schedule
2 Processing of
contribution
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 16TATs: As
specified in the
Schedule
3 Processing of
service
request
TATs: As
specified in the
Schedule
4 Processing of
Exit Request
TATs: As
specified in the
Schedule
Insert additional rows wherever required.
Note:
1. In case no claim is received from the subscribers, it shall be mentioned in the report as ‘No
deviation observed/NIL’.
2. For the purpose of computation of TAT, non-working days shall be excluded.
3. For the purpose of compensation, all calendar days shall be considered.
Section B: Details of collection account maintained by PoP as on Half-Year/ Financial Year
ended …………….… (as applicable)
Section B1: Details of closing balance
(Amount in INR)
Sl. Bank Name of the Name of Balance Out of (D), Out of (E),
No. account Bank collection as on Balance Unreconciled
Number (B) account Half- beyond T+2 balance as on
Year/ (Amount not Half-Year/
(A) (C)
Financial processed Financial Year
Year within ended
ended specified TAT) (F)
(D) (E)
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 17Section B2: Ageing report of unreconciled balance as reported under Column F of section B1
(Amount in INR)
Ageing of unreconciled balance as reported under Column F of section B1
SI. No Ageing Amount Reason for the
unreconciled balance
1 Upto 1 month
2 More than 1 month
and upto 3 months
3 More than 3 months
and upto 6 months
4 More than 6 months
and upto 1 Year
5 More than 1 Year
Section C: Grievances redressal as on end of half-year/ Financial Year ended………….
Sl. Number of Grievances Reasons
No. Pending as Received Resolved Pending as Pending for
on last day during the during the on last beyond 30 pending
of previous HY/Y HY/Y day of the (thirty) grievances
HY/Y HY/Y days as on beyond 30
(B) (C)
(A) ((A+B)-C) = last day of (thirty)
(D) the HY/Y days, if
(E) any
(F)
Top 5 (Five) Reasons for the grievances
1.
2.
3.
4.
5.
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 18Section D: Details of Exit Cases as on end of half-year/ Financial Year ended……….
Section D1: Details of Pending Exit Cases:
Sl.
Number of Exit Request Reasons
No.
Type of Pending Received Processed Pending Pending for
Exit as on last during the during as on last beyond pending
Requests day of HY/Y the HY/Y day of the TAT as on exit
previous (B) (C) HY/Y last day of request
HY/Y ((A+B)-C) the HY/Y beyond
(A) =D (E) TAT, if
any
(F)
1. Pre-
mature
Exit
2. Normal
Exit
3. Exit Due
to Death
Section D2: Details of APY accounts where the subscribers have attained the age of 60
years but exit is yet to be processed:
Sl. No. Aging No. of PRANs
1. Above 1 month -3 months
2. Above 3 months -12 months
3. More than 12 months
I hereby certify that also the information reported in Sections A, B, C and D is true and correct.
Name of Compliance Officer:
Designation:
Correspondence Address:
Mobile No. / Landline No.:
Email id:
Date:
Signature of compliance officer
Place:
along with official seal.
(Seal not required, if digitally
signed)
Note 1. Insert additional rows wherever required.
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 19Annexure 2
Cyber Security Compliance certificate for the FY 20__
(To be submitted by PoP-APY through modes as specified by the Authority from time to time
within 30 calendar days from the end of the FY)
This is to certify that (Name of PoP-
APY) registered vide Reg. No. with Pension
Fund Regulatory and Development Authority (PFRDA) has:
Adopted and complied with the Information and Cyber Security Policy approved by the Board
and has adhered to the extant Information and Cyber Security Policy Guidelines issued by
PFRDA or the respective Principal Financial Sector Regulator (RBI / SEBI / IRDAI / NHB), as
applicable, for the protection of data, information, and IT systems.
Further, a Cyber Security Audit was conducted in accordance with the guidelines issued by
the respective Principal Financial Sector Regulator, and all remedial actions recommended in
the audit report have been duly implemented. Cyber incidents, if any, were reported to CERT-
In and PFRDA, and were also reported to the respective Principal Financial Sector Regulator,
wherever applicable, in terms of the Information and Cybersecurity Policy of such Principal
Financial Sector Regulator.
Name of CISO/Compliance Officer:
Designation:
Mobile No.:
Email ID:
Date:
Place: Signature of CISO/Compliance officer
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 20Annexure 3
PoPs shall submit the details of the Compliance Officer, Designated Director and Principal
Officer appointed by PoP in the below mentioned format within three working days of
change/update.
To
The Head of the Department
Supervision Department - PoPs and RAs
Pension Fund Regulatory and Development Authority
Subject: Reporting of Change of Compliance Officer, Designated Director and Principal
Officer
This is to inform that (Name of PoP-APY) registered vide
Reg. No. _________with Pension Fund Regulatory and Development Authority
hereby informs that, there is change of Compliance Officer, Designated Director and
Principal Officer. The details of the Compliance Officer, Designated Director and Principal
Officer who has taken charge w.e.f __________(date of appointment/assumption of
charge) is as below:
Format for submission of details of the Compliance Officer, Designated Director and
Principal Officer of the PoP
Name
Designation
Email ID
Contact (Mobile number)
Address for correspondence
Sign and Stamp of Compliance Officer
ई-500, टॉवर ई, प ांचव ां तल , वर्ल्ड ट्रे् सेंटर, नौरोजी नगर, नई दिर्लली – 110029
E-500, Tower E, 5th Floor, World Trade Center, Nauroji Nagar, New Delhi – 110029
Phone: 011 - 40717900. Website: www.pfrda.org.in
Page | 21