PFRDA Streamlines NPS Registration with New PoP Regulations
MAS Team | 18 January 2024
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The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the Point of Presence (PoP) Regulations 2023, ushering in a simplified registration process for the National Pension System (NPS). These regulations stipulate that only one registration is required for individuals to access the NPS.
The Union Finance Ministry emphasized that this move aims to enhance ease of doing business and encourage greater utilization of digital channels. Under these new regulations, both banks and non-banking entities can now serve as Points of Presence (PoPs) to facilitate the onboarding of National Pension System subscribers.
This significant change means that subscribers now need only a single registration for NPS, a stark improvement from the previous requirement of multiple registrations. Additionally, the timeline for processing applications has been significantly reduced, from 60 days to a more efficient 30 days.
These streamlined regulations align with the broader national agenda of simplifying processes, promoting digital adoption, and fostering a business-friendly environment. As a result, accessing and benefiting from the National Pension System has become more convenient and efficient for subscribers across the country.
Dear Investor,
In case of any grievance / complaint :
In case of any grievance / complaint :
- Please contact Compliance Officer Shraddha Mhatre at [email protected] and Phone No. - 91-22-35131664.
- You may also approach CEO Debashis Basu at email- id [email protected] and Phone No. - 91-22-35131664.
