NPS charges revised from October 1, 2026: Check new PoP onboarding and annual charges for NPS, NPS Lite

The Pension Fund Regulatory and Development Authority (PFRDA) has revised the charges that Point of Presence (PoP) can collect from subscribers under the National Pension System (NPS) and NPS Lite. The new charges will apply from October 1, 2026. Central Recordkeeping Agencies will start implementing the deduction of these charges from Q3 of FY 2026-27.

As per a circular dated August 28, 2026, the PFRDA removes the distinction between common schemes and schemes introduced under the Multiple Scheme Framework (MSF).

In the circular titled ‘Standardised framework for classification and presentation of schemes under the National Pension System (NPS), the PFRDA has also clarified the charges applicable to subscribers who use e-NPS and D-Remit for their contributions.

NPS PoP onboarding charge from October 1, 2026

One-time onboarding charge

Under the revised structure, a subscriber will have to pay a one-time onboarding charge of Rs 200 per Permanent Retirement Account Number (PRAN) when registering through a PoP.

The Rs 200 charge will not be deducted as a single amount from the subscriber's account.

Instead, an amount equivalent to Rs 50 per quarter will be recovered through the cancellation of units by Central Recordkeeping Agencies (CRAs). The amount will be paid to the PoP in the month subsequent to the quarter in which onboarding is completed.

Annual charges for all schemes under NPS and NPS Lite

The PFRDA circular says that a 0.20% per annum of the asset under management (AUM) will be adjusted through the net asset value (NAV) and payable to PoP on a quarterly basis, for all schemes other than dormant accounts.

One-time onboarding charges for subscribers who register digitally The PFRDA has also provided an update about the onboarding charge for subscribers who complete the process entirely through a digital, non-face-to-face route. In such cases, a one-time charge of Rs 100 may apply, depending on the terms determined by the PFRDA at the time of the PoP's registration and subsequently.

GST and other applicable taxes will be charged separately, says the PFRDA circular.

Will dormant NPS accounts attract PoP charges?

The PFRDA has clarified that dormant accounts will not attract charges. A dormant account is defined as such account(s) identified by a unique Permanent Account Number (PAN) across all CRAs, where subsequent to a contribution in a quarter, there is no contribution for four consecutive quarters as identified at the end of each quarter.

Revised minimum contribution under NPSThe circular also specifies the minimum contribution amounts for NPS subscribers.

A subscriber must make a minimum contribution of Rs 250 at the time of onboarding. For subsequent contributions, the minimum amount is Rs 10.

Who will not have to pay PoP charges?

Subscribers who have onboarded through e-NPS and are making subsequent contributions through e-NPS or D-Remit will not be liable to pay any PoP charges. However, subscribers onboarded through a POP and making subsequent contributions through e-NPS or D-Remit, will be liable to pay PoP charges, as per the circular.

Note that this difference is important because simply using e-NPS or D-Remit for a contribution does not automatically remove the PoP charges if the subscriber's NPS account was originally opened through a PoP.

PoPs must display revised charges

The PFRDA has directed all PoPs to prominently display their revised charge structure on their websites.

Have charges for 4A schemes under the NPS also been revised?

The revised charge structure does not cover PoP charges for 4A Schemes, such as schemes introduced under Regulation 4A of the Exit Regulations like NPS Vatsalya, NPS Swasthya and NPS MSME.

The PFRDA has said that charges for these schemes will continue to be governed by their respective guidelines and circulars.

New NPS PoP charges replace earlier structure

The revised charge structure will replace the earlier PFRDA circular dated March 10, 2026, which dealt with PoP charges for common schemes under NPS (All Citizen), including NPS Vatsalya and NPS Lite.