Guidelines for Operational activities – to be followed by Point of Presence (PoPs) performing activities of National Pension System (NPS) including NPS Vatsalya

Circular no. PFRDA/2026/11/SUP-POP/03 Dated: 27th February, 2026

CIRCULAR To, All Points of Presence (PoPs-NPS)

Subject: Guidelines for Operational activities – to be followed by Point of Presence (PoPs) performing activities of National Pension System (NPS) including NPS Vatsalya.

In exercise of the powers conferred under Section 14 of Pension Fund Regulatory and Development Authority Act, 2013 read with the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 (as amended) more particularly Regulation 41 and 42, thereof, following Guidelines are being issued. The Guidelines shall be applicable to categories of Point of Presence registered under Regulation 3(1) of Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and performing activities of NPS.

The guidelines may be modified by the Authority from time to time depending upon the service requirements. The guidelines shall be effective from April 01, 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. 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)(a) and 3(1)(c) THEREOF In exercise of the powers conferred under Section 14 of Pension Fund Regulatory and Development A uthority Act, 2013 read with the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 (as amended) more particularly Regulation 15, following Guidelines are being issued. The Guidelines shall be applicable to Point of Presence registered under Regulation 3(1)(a) and 3(1)(c) of Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and amendments thereof for all activities under NPS / any other scheme regulated or administered by the Authority.

Regulation 3(1)(a) and 3(1)(c)- National Pension System (NPS) and any other scheme regulated or administered by Authority. (Hereinafter referred in these Guidelines as ‘PoP-NPS’ for convenience of reference).

These guidelines shall be effective from April 01, 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-NPS shall follow the ‘Service Standards’ for all activities under NPS as specified in the Schedule of these guidelines for providing the services to subscribers/prospects of NPS in mode and manner specified therein.

[2] PoP-NPS shall provide subsequent services such as upload of SCF in CRA system and other services like shifting of PoP-NPS, change in personal details of the subscriber, processing of death claims, processing of exit/withdrawal request, follow up on initiation of exit request under NPS by the subscriber etc., in accordance with Schedule of guidelines.

[3] PoP-NPS shall be liable to compensate the affected subscribers in the event of any delay or violation iin the Service Standards as specified in the Schedule. Besides the delay in TAT for various activities as specified in the Schedule, in case of any loss suffered by subscribers due to any other operational lapse, PoP shall make good the loss to the subscribers. Such compensation as specified in the Schedule shall be paid to the affected subscribers suo moto, 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 | 2without waiting for a complaint/grievance or claim from the subscriber.

[4] PoP-NPS shall resolve the grievances of the subscribers in accordance with Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015 and amendments thereof.

[5] PoP-NPS shall consider following points for association with any Pension agent:

(i) The terms and conditions of operations between PoP and Pension agent shall be mutually agreed u pon and shall be in accordance with Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and subsequent amendments thereof and any other instructions issued by the Authority from time to time.

(ii) PoP-NPS shall ensure flow of information from Pension agent to PoP in such a way that all Turn Around Times (TATs) as specified under service level standards in the Schedule are adhered to, without any delay or deviation

(iii) PoP-NPS shall ensure that the Pension agent should contact or communicate only with associated PoP on all matters and any direct communications with the Authority shall not be entertained.

(iv) PoP-NPS shall compile and submit the specified MIS reports to the Authority on behalf of its pension agent. Pension agent shall not directly submit any MIS report / information to the Authority.

[6] The terms and conditions of operations between PoP-(NPS) and Retirement Advisers (herein after referred in these Guidelines as ‘RAs’ for convenience of reference) shall be mutually agreed upon and the same shall be guided by Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016, and amendments thereof and Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018, and amendments thereof.

[7] PoP-NPS shall make available all NPS related forms, as specified by the Authority from time to time, to the subscribers.

[8] PoP-NPS shall not transfer or assign any of its functions.

Notwithstanding the above, the PoP-NPS may engage pension agents for a limited function of distribution of pension schemes as specified in the regulations and perform its activities in accordance with Schedule-IV of Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and amendments thereof. In case of irregularities occurring in PoP related activities the compliance officer shall immediately and independently report any deviation or non-compliance observed by such officer, to the Authority in accordance with regulation 21(2) including any other instructions issued by the Authority from time to 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 | 3[9] PoP-NPS shall adhere to the PFRDA Act 2013, rules, regulations, circulars, guidelines, directions, advisories and instructions issued by the Authority from time to time.

B. Standard Operating Procedures PoP-NPS shall adhere to the Standard Operating Procedures (SOPs), for interfacing with Central Record Keeping Agencies (CRAs), Trustee Bank (TB) and other intermediaries, as required by the CRAs and/or the Authority for operational activities with respect to NPS.

C. Subscriber On-boarding Procedure PoP-NPS shall follow the service requirements for on-boarding of subscriber under NPS as specified in the Schedule.

D. Contribution Management Procedure PoP-NPS shall collect and process the contributions as per the service requirement specified in the Schedule. PoP-NPS shall also comply with the following procedures and parameters to ensure transparency, uniformity and risk minimization:

[1] NPS contribution collection process

(i) PoP-NPS shall ensure that credible collection infrastructure is available for its underlying subscribers.

(ii) PoP-NPS 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 NPS, the collection account may be in the name of “SBI- Collection Account - NPS - NPS Trust”. The collection account shall be a non- withdrawable account with an option to transfer the funds to NPS Trust’s account maintained with Trustee Bank. 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-NPS.

PoP -NPS shall also record reasons for such transfers in writing and the same is subject to audit and inspection.

(iv) PoP-NPS 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. 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 | 4(v) PoP-NPS shall ensure Permanent Account Number (PAN) of the subscribers for all cash transactions exceeding Rs. 50,000/- (Rupees Fifty Thousand) or as prescribed under Rule 114B of the Income-tax Rules, 1962 is obtained at the time of collecting contributions. In case NPS account is opened through form 60 and PAN of the subscriber is not captured in the CRA system then it must be updated in the CRA system.

(vi) PoP-NPS shall ensure that pension agents / RAs are not authorized to collect the contribution in cash. Further PoP-NPS shall ensure that the list of RAs/ Pension Agents, who are authorized to collect only non-cash contribution, must be made publicly available.

(vii) PoP-NPS shall ensure that the acknowledgement in the form of slip / receipt with unique number (preferably electronic receipt) / intimation is being provided to the subscribers by Service Provider Branches /pension agents/RAs.

[2] Pooling of contribution in the collection account

(i) PoP-NPS shall ensure that no contribution is collected without the details of the subscriber(s).

(ii) PoP-NPS shall ensure the cash/non-cash instrument collected shall be deposited during the bank working hours within TATs specified under Schedule.

(iii) NBFC PoPs-NPS to ensure that contributions collected from NPS subscribers to be transferred to Trustee Bank on T day (same day) basis.

(iv) The PoP NPS shall ensure to get the fees and charges earned from the NPS related transaction to a separate account of POP (other than the collection account) which shall be remitted from the CRAs through the modes of recovery of charges as permitted by the Authority from time to time; and shall maintain the trails of such transfer for audit and inspection. Further, necessary IT arrangements shall be made by PoP for the same.

(v) PoP-NPS shall ensure that no funds are lying un-identified/un-reconciled in the NPS Collection account maintained by the PoP and details of all contributions credited into the NPS Collection account should be uploaded into the CRA system and funds remitted to the Trustee Bank as per the timelines specified in the Schedule

(vi) PoP-NPS shall display the complete fee/charge structure under NPS on their website.

(vii) PoP-NPS shall ensure the compliance on directions/circulars issued by the Authority from time to time in respect of processing of contributions received from payment gateway service provider for digital transaction and further shall ensure the display of settlement time and charges of Payment Gateway Service Providers (PGSPs) for digital transaction at the time of initiating payment of NPS contributions by the subscriber on the website in compliance with the relevant directions/ 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 | 5guidelines/ advisories / any other instructions issued by the Authority from time to time.

[3] Risk and Fraud Mitigation Measures

(i) PoP-NPS 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 NPS.

(ii) PoP-NPS 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-NPS shall monitor cash collection procedure and functioning of the NPS collection account on daily basis.

(iv) PoP-NPS 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 and KYC records.

(v) The compliance officer of the PoP-NPS shall regularly review internally the compliance of the Act, rules and regulations, notifications, circulars, guidelines, directions, etc. issued by the Authority from time to time on periodic basis 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-NPS 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-NPS shall lay down internal controls to be followed and ensure that such controls are adequate and operating effectively; and

(viii) PoP-NPS 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 pension agents, which has been established.

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 | 6E. Reports and Disclosures

[1] PoP-NPS 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-NPS with subscriber base of 10,000 and above – to submit the Exception Report on a Half-Yearly basis.

(b) PoPs-NPS with subscriber base of less than 10,000 – 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 2.1 & 2.2 respectively for Category I* & Category II** PoP-NPS)] within 30 (thirty) days from the end of the Financial Year. Report on cyber-attacks incident pertaining to NPS activities, if any are to be submitted in terms of the Information and Cybersecurity Policy of PFRDA.

Note: Category I* - consisting of Pension Funds that are registered as Point of Presence

(PoPs) Category II** - consisting of Point of Presence (PoPs) other than those falling under Category I

[2] The details of NPS related activities undertaken by pension agents/RAs shall also be included by the PoP in the reports mentioned above.

[3] PoP-NPS shall submit the details/reports as may be determined by the Authority from time to time. (All the above-mentioned reports shall invariably be duly checked and verified by the Compliance Officer.) F. Redressal of grievances

[1] PoP-NPS 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 NPS subscribers. The name, e-mail id/s and telephone number/s of the designated Grievance 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 | 7Redressal 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-NPS 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-NPS 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-NPS shall lodge its grievance, if any, against any intermediary such as CRA or Trustee Bank in CGMS.

[5] Top management of PoP-NPS shall review grievances received under NPS as specified by the Authority for the quality of resolution to be apprised to the Board of the PoP. PoP 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.

[6] PoPs-NPS are required to comply with and take necessary action on communications issued by the NPS Trust and/or the Ombudsman.

G. Other Functions

[1] Appointment of Compliance Officer, Designated Director and Principal Officer

(i) PoP-NPS shall appoint Compliance Officer, Designated Director and Principal Officer as per the proviso under regulation 21 of Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and amendments thereof. The Compliance Officer shall be responsible for monitoring compliance under NPS 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.

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 | 8(ii) PoP-NPS 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 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-NPS to ensure that the list of Service Provider Branches performing the activities of NPS shall be made available on its website.

[3] Confidentiality PoP-NPS 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-NPS shall have adequate IT infrastructure at all its branches, registered for carrying out activities under NPS as prescribed under the PFRDA Act 2013, Rules, Notifications, guidelines etc.

(i) For access to CRA system, the concerned PoP shall:

(a) have regular and uninterrupted internet connectivity for web-based interaction;

(b) have demonstrated capability to electronically transmit the information related to NPS 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 to utilize IT infrastructure and act on the basis 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 | 9of views and reports made available by CRA for providing quality service delivery to the NPS subscribers.

(iii) PoP-NPS shall ensure compliance of cyber security policy and submit the reports as determined by the Authority from time to time.

Point of presence shall adhere to the code of conduct as specified in Schedule-II of Regulation 22 of the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018 and amendments thereof at all times and ensure that pension agents also comply with the same.

[5] Compliance with respect to other guidelines PoPs-NPS 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 circular 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 | 10SCHEDULE Service Standards for PoP-NPS Compensation payable Turn Around Time Types of to subscribers in case Service Requirements Activities of default I II III IV

1. On-boarding of subscribers under NPS a. Subscriber i. PoP shall address the Category i: For each delayed registration queries of potential transaction, PoP shall Processing of registration

subscribers regarding pay: through online mode by NPS at branches and also both PoP and service Repo rate + 2 % p.a. of display the contact provider branches/offices. initial contribution details of information amount for the period desk.

Maximum T+1 day, where of delay or Rs. 20/- T is the date of receipt of ii. PoP shall collect whichever is higher. complete SRF at PoP. complete SRF along with (This amount should be non-cash instruments for credited to the

Category ii: initial contribution as subscriber’s PRAN). prescribed therein, as Processing of registration applicable. through offline mode by service provider (Explanation: Complete branches/offices and SRF means Subscriber online mode by PoP.

Registration Form along with necessary Maximum T+7 days, where documents as prescribed T is the date of receipt of therein) complete SRF at service provider branches/offices iii. PoP shall carry out

customer due diligence Category iii: procedures in adherence to Prevention of Money Processing of registration Laundering Act, 2002 through offline mode by through effective use of utilizing CRA/CRA-FC by Know Your Customer both service provider Verification Processes branches / offices and PoP.

and comply with all Maximum T+10 days, 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 | 11guidelines/ circulars/ where T is the date of directions issued by the receipt of complete SRF at Authority from time to service provider time. branches/offices.

iv. In case of any discrepancy found during the collection and verification of SRF along with supporting documents, PoP shall: a. Inform the applicant. Discrepancies in the document may be b. Coordinate with the communicated to the applicant to get further subscriber within requirements / new maximum T+1 day, where application form filled, if T is the date of receipt of required.

SRF at PoP. c. Refund the contribution amount The Refund of the including processing fees contribution amount (if and taxes deducted / any) shall be made to the collected upfront by subscriber within maintaining proper audit maximum of T+7 day, trail.

where T is the date of first communication sent to the v. PoP shall provide subscriber for completion acknowledgement slip / of discrepancies found in receipt for collection of the SRF.

SRF and initial contribution with unique number at time of registration along with receipt date and stamp/signature. vi. PoP shall process subscriber registration at CRA portal (if applicable). 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 | 12vii. vii. PoP shall forward complete SRF (including KYC documents) to central recordkeeping agency (CRA) or its representative and/or shall be guided by directions issued by the Authority from time to time in respect of handling of SRFs. PoPs shall maintain complete SRF (including KYC documents) or copy of the same in digital / physical mode.

2. Contribution Processing a. Collection of i) Initial contribution Maximum T+1 day, where For each delayed Contribution PoP shall ensure T is the date of receipt of transaction, PoP shall collection of contributions

activation status of PRAN pay: at the time of registration. from CRA.

Post receipt of activation Repo rate + 2 % p.a. of status of PRAN from CRA, (Note: In cases where PoP contribution amount PoP shall put non-cash engages PGSPs, PoP to for the period of delay instruments for clearance.

collect the subscriber’s or Rs. 20/- whichever is contribution in maximum higher. (This amount T+1 day, where T is the should be credited to date of contribution made the subscriber’s PRAN) by subscriber).

ii) Subsequent contribution i. On T day, where T is the i. PoP shall provide date of receipt of non-cash acknowledgement slip / instruments / receipt of receipt with unique contributions through number along with online mode.

receipt date and stamp / signature. 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 | 13ii. Post verification of ii. Maximum T+1 day, PRAN, PoP shall put non- where T is the date of cash instruments for receipt of non-cash clearance. instruments .

(Note: In cases where PoP engages PGSPs, PoP to collect the subscriber’s contribution in maximum T+1 day, where T is the date of contribution made by subscriber). b. Processing of i. PoPs, which are banks, Maximum T+1 day, where For each delayed Contribution shall credit the clear T is the date of receipt of transaction, PoP shall funds into the NPS clear funds by PoP. pay:

collection account, if the In case of processing of Repo rate + 2 % p.a. of same has been realized contributions received contribution amount into account other than from corporates tagged to for the period of delay NPS collection account.

PoP, maximum T+1, where or Rs. 20/- whichever is T is the date of receipt of higher*. (This amount ii. PoPs using Payment funds along with should be credited to Gateway Service subscribers’ details from the subscriber’s PRAN) Providers (PGSPs) facility the corporate, subject to shall ensure to credit *Compensation shall the condition that PoP the clear funds into the be paid for each shall return the funds to NPS collection account underlying subscriber.

the tagged corporate on as per specified TAT.

T+2 on non- receipt of iii. PoP shall prepare and subscriber details, where T upload SCF into CRA is the date of receipt of system. clear funds by PoP/ Service Provider Branches. iv. PoP shall remit the funds to Trustee Bank post successful upload of SCF at CRA portal.

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 | 143. Processing of Service request(s) a. Scheme i. PoP shall provide Category i: i) For each delayed Preference acknowledgement slip / transaction including Receipt of change request change receipt with unique delay due to wrong / directly by PoP.

number along with incorrect processing, receipt date and Maximum T+1 day, where PoP shall pay: stamp/signature. T is the date of receipt of Repo rate + 2 % p.a. of complete change request ii. PoP shall upload and the transacted amount at PoP.

process the service for the period of delay request(s) as per the SOP or Rs. 20/- whichever is

Category ii: (Standard Operating higher. (This amount Procedure) provided by Receipt of change request should be credited to CRAs at their portal. by PoP through service the subscriber’s PRAN) provider branches / ii) In case of loss to offices.

subscriber is more than Maximum T+7 days, where the compensation T is the date of receipt of applicable, then PoP complete change request shall make the loss at service provider good. branches / offices.

b. Other i. PoP shall provide Category i: For each delayed service acknowledgement slip / transaction including Receipt of change request request(s) i.e., receipt with unique delay due to wrong/in- directly by PoP Change in number along with correct processing, PoP subscriber’s receipt date and shall pay:

Maximum T+1 day, where details, shifting stamp/signature.

T is the date of receipt of Rs. 10/- per day subject of subscriber, complete change request ii. PoP shall upload and to maximum Rs. 100. change of PoP, at PoP process the service (This amount should be inter-sector request(s) as per the SOP credited to the shifting, etc. Category ii:

(Standard Operating subscriber’s PRAN) Procedure) provided by Receipt of change request CRAs on their portal. by PoP through service provider branches/ offices. iii. PoP shall apply proper due diligence in Maximum T+7 days, where processing service T is the date of receipt of request form and ensure complete change request that all the prescribed 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 | 15documents and KYC at service provider should be attached with branches/offices. the service request form.

4. Grievance Management and Exit processing a. Grievances i. PoP shall resolve the As per the Pension Fund As per the Pension received grievances received in Regulatory and Fund Regulatory and from NPS CGMS in accordance to Development Authority Development Authority subscribers/ relevant Regulations. (Redressal of Subscriber (Redressal of Subscriber prospects Grievance) Regulations, Grievance) Regulations, ii. In case PoP receives 2015 and amendments 2015 and amendments the grievance directly thereof. thereof.

from subscribers (modes other than CGMS), it shall ensure to upload the same into CGMS and maintain records of such grievances and resolve the same. b. Processing of i. PoP shall provide Category i: i) For each delayed exit and acknowledgement slip / transaction including Receipt of exit request withdrawal receipt with unique delay due to wrong/in- directly by PoP (through requests number along with correct processing, PoP CRA portal)

receipt date and shall pay: stamp/signature. Maximum T+1 day, where Repo rate + 2 % p.a. of T is the receipt of such ii. PoP shall collect the the transacted amount request at PoP along with exit request along with for the period of delay complete set of supporting requisite documents and or Rs. 20/- whichever is documents as prescribed perform necessary due higher.

therein. diligence in accordance ii) In case of loss to with Regulations /

Category ii: subscriber is more than Guidelines / Circulars / Receipt of exit request by the compensation Directions / Instructions PoP through service applicable, then PoP issued by the Authority provider branches/offices.

shall make the loss from time to time.

Maximum T+7 days, where good. iii. PoP shall upload and T is the date of receipt of process the exit and such request at service provider branches / withdrawal requests as offices along with per the SOP (Standard complete set of 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 | 16Operating Procedure) supporting documents as

provided by CRAs at their prescribed therein. portal.

Note:

1. Working days has to be considered for calculation of TAT even though system driven deductions are made on a non-working day.

2. Repo rate as declared by RBI Monetary Policy Committee from time to time.

3. TATs specified in column III of schedule indicate the ‘maximum/overall timeframe’ stipulated for PoP (including the time taken at all levels i.e., by service provider branches/offices and/or pension agents and/or RAs) to complete the respective service requirement / activities specified in para 5. However, PoP shall ensure carrying out the service requirements in shortest possible time.

4. Wherever service provider branches/offices are performing activities of NPS, ‘T’ for the purpose of calculation of TAT starts at the level of such branch/office, irrespective of their registration status in CRA(s) system.

5. In case of upload of compensation amount by PoP in PRAN of subscribers which are frozen/ deactivated due to any reason: a. PoP shall request CRA to unfreeze the PRANs for specific period of time for upload of compensation (Post upload, PRANs will be again frozen/deactivated by CRA).

b. In case where PRANs are frozen/deactivated due to execution of exit request, PoP shall refund the compensation amount directly to subscriber's bank account under intimation to subscribers.

6. PoP shall accept the ‘PFRDA specified Forms’ only along with the date of submission of form mentioned by the subscribers and shall also ensure to duly date stamp such forms upon receipt at all levels of operation (at all levels of PoP/ Service Provider Branches/ pension agents/RAs).

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 | 17Annexure -1 Exception Report for the Half-Year/ Financial Year ended ……….…..… (as applicable) [To be submitted by PoP-NPS 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-NPS) 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-NPS) has adhered to TAT applicable for various activities as laid down in Schedule of the operational guidelines. Compensation has been paid to the credit of PRAN of affected subscribers (bank account in case of closure of PRAN) in case of delays in processing activities during the above-mentioned period. The list of delays along with reasons thereof 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) Total Compensation Reasons for In case of non- compensation amount paid non-payment payment, amount by the PoP of whether Type of No. of Reason S No. of Compensation reported to activity And days of for l. subscribers Amount PFRDA, if yes, Existing TATs delay delay please specify date of communication

1. Subscriber Upto 7 registration days more than 7

TATs: As days specified in the Schedule

2. Upto 7 Processing days initial/first more contribution than 7

TATs: As days 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 | 18specified in the Schedule Upto 7 Processing of

3. days subsequent more contribution than 7

TATs: As days specified in the Schedule Upto 7 Processing of

4. days service more request than 7

TATs: As days specified in the Schedule Upto 7 Processing

5. days of exit more request than 7

TATs: As days specified in the Schedule Insert additional rows wherever required.

Note:

1. In case there is no deviation from the Service Level Standards, 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.

Illustration:

Compensation Payment Rate (as per applicable Guidelines) = Repo Rate + 2% Scenario 1 Contribution amount- Rs. 50,000/- Contribution amount deposited by the Subscriber- 01.12.2025 (Monday) Contribution amount remitted to Trustee Bank by POP 15.12.2025 Defined TAT for remitting the funds to Trustee Bank is T+1 (in this case the contribution should have been remitted by 02.12.2025) No. of Days Delay observed- 13 days Payable Compensation Rate= 5.25% (considering current Repo Rate) +2 % = 7.25% per year or minimum Rs. 20/- whichever is higher for thirteen (13) days Rs. (50,000*7.25/100) /365 *13 = Rs. 129/- (Rounded off to next decimal) So, Payable Compensation by POP= Rs. 129/- 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 | 19Section B: Details of collection account maintained by PoP-NPS as on Half-Year/ Financial Year ended ……… (as applicable)

Section B1: Details of closing balance (Amount in INR) Bank Name Name of Balance Out of (D), Out of (E), account of the collection as on Balance Unreconciled Number Bank account Half-Year/ beyond T+1 balance as on Financial (Amount not Half-Year/

(A) (B) (C) Year processed Financial Year ended within ended

(D) specified (F) TAT)

(E)

Section B2: Ageing 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. Aging Amount Reason for the unreconciled balance

1. Upto 1 month

2. More than 1 month and upto 3 months

3. More than 3 months 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 | 20Section C: Grievances redressal as on end of half-year/ Financial Year ended ……………..

Sl. Number of Grievances Reasons Pending Received Resolved Pending as Pending for No. as on last during the during the on last day beyond 30 pending day of HY/Y HY/Y of the HY/Y (thirty) days grievances previous (B) (C) ((A+B)-C) = as on last beyond 30 HY/Y (D) day of the days (if

(A) HY/Y any) (F)

(E)

1.

2.

Top 5 (Five) Reasons for the grievances

1.

2.

3.

4.

5.

Section D: Details of Exit Cases as on end of half-year/ Financial Year end……………………

Section D1: Details of Pending Exit Cases:

Sl.

Number of Exit Requests No.

Type of Pending Received Processed Pending Pending Major reasons Exit as on during during as on beyond for pending Exit Request last day the HY/Y the HY/Y last day TAT as requests of (B) (C) of the on last beyond TAT previous HY/Y day of days, if any HY/Y ((A+B)-C) the

(F)

(A) = (D) HY/Y

(E) Pre- 1.

1. mature 2.

Exit 3.

1.

Normal

2. 2.

Exit

3. 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 | 21Exit Due 1.

3. to 2.

Death 3.

Section D2: Details of NPS accounts where the subscribers have attained the age of 85 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

Section E: Pension Agents at the end of half-year/Financial Year end………….

Details of Pension Agents No. of Pension No. of new Pension No. of Pension Total No. of Agents as on the Agents engaged Agents deactivated Pension Agents as last Half -year / during the Half -year / during the Half -year on last day of the Annual Annual / Annual Half -year / Annual I hereby certify that also the information reported in Sections A, B, C, D and E is true and correct.

Name of Compliance Officer:

Designation:

Correspondence Address:

Mobile No. / Landline No.:

Email id:

Signature of compliance

Date: officer along with official

Place: 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 | 22Annexure 2.1 Cyber Security Compliance certificate for Category I PoPs the FY 20__ (Category I PoP means- Pension Funds that are registered as Point of Presence (PoPs)) (To be submitted by PoP-NPS 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 the PoP-NPS) 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, for the protection of data, information, and IT systems.

Further, a Cyber Security Audit was conducted in accordance with the guidelines issued by PFRDA and all remedial actions recommended in the audit report have been duly implemented. Cyber incidents, if any, were reported to CERT-In and PFRDA, in terms of the Information and Cybersecurity Policy of PFRDA. The PoP has also submitted the report on the cyber incidents to PFRDA on quarterly basis, along with the details of remedial actions taken.

It is further submitted that the Information and Cybersecurity Policy was approved by the board on ____________ and the same was last reviewed on ____________. The reviewed and approved Cyber Security Policy has been submitted to PFRDA within 30 days of such approval by the Board of the regulated entity (RE).

Additionally, the details of the members of Information and Cyber Security Risk Management Committee (ICSRM) is as mentioned below:

S.No Name of the Member Designation 1 2 3 4 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 | 23Annexure 2.2 Cyber Security Compliance certificate for category II PoPs for the FY 20__ (Category II PoP means- Point of Presence (PoPs) other than those falling under Category I) (To be submitted by PoP-NPS 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 the PoP-NPS) 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 | 24Annexure 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 NPS) 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 | 25