PFRDA revises NPS, UPS, APY charges: Date, rate list revealed

The Pension Fund Regulatory and Development Authority (PFRDA) has revised the charges imposed by Central Recordkeeping Agencies (CRAs). How will this decision impact the subscribers of the National Pension System (NPS), NPS-Vatsalya, Unified Pension Scheme (UPS),

NPS-Lite, and the Atal Pension Yojana (APY)?

According to reports, the charges will be revised from October 1. It will cover the maintenance of accounts -- both online and offline. PFRDA has applied a cap to the charges. However, CRAs may chooseto keep their rates low. However, despite the changes, the prices remain nominal.

Here are the revised charges for government sector NPS and UPS subscribers

PRAN opening charge has become Rs 18 for an e-PRAN kit, which is the default option. If one wants a physical PRAN card, they would have to pay Rs 40.

An annual maintenance charge of Rs 100 will be imposed on all accounts. However, transaction charges will remain nil.

Accounts that don't have any balance will not attract a maintenance charge.

Those who have subscribed to APY and NPS-Lite will pay a PRAN opening charge of Rs 15. They will pay an annual maintenance charge of Rs 15.

There won't be any transaction charge.

NPS and NPS-Vatsalya subscribers from the private sector will pay a PRAN creation charge of Rs 18 for the e-kit and Rs 40 for the physical card. The annual maintenance charge will depend on the subscriber’s corpus size.

Check new charges

For Rs 1 lakh, there won't be any charge.

For Rs 1-2 lakh, she will have to pay Rs 100.

For Rs 2-10 lakh, Rs 150 will be charged.

For Rs 10,00,001–25 lakh, Rs 300 will be charged.

For a Rs 25-50 lakh charge, Rs 400 will be charged.

Rs 50 lakh and above will attract a charge of Rs 500.