Pension regulator PFRDA today said it has made the process of registration of retirement advisors easier for wider coverage of the National Pension System (NPS) and applicants can now apply online. The Pension Fund Regulatory and Development Authority (PFRDA) has done so by facilitating on-boarding of subscribers and providing advisory services to them for allocating assets under the NPS and choosing pension fund managers.
“The applicants can now submit their application online and upload scanned images of all the required documents. This will reduce the application processing time,” the regulator said in a statement today.
A retirement advisor can be any individual, registered partnership firm, body corporate, or any registered trust or society that is keen to provide advice on the NPS or other pension schemes regulated by the PFRDA to prospective and existing subscribers.
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NISM and FPSB India are providing necessary certification for the registration eligibility. However, investment advisors registered with Sebi are exempted from the requirement of certifications.