The way you open your National Pension System (NPS) account could determine whether you pay Point of Presence (PoP) charges, even if you later use e-NPS to make your contributions.
PFRDA’s new PoP charge structure will apply from October 1, 2026. The headline charges themselves remain unchanged — Rs 200 for onboarding and 0.20% of assets under management (AUM) annually. The regulator has clarified how these charges apply depending on how a subscriber is onboarded.
Subscribers who open their NPS account through e-NPS and subsequently contribute through e-NPS or D-Remit will not have to pay PoP charges.
However, if the account was originally opened through a PoP, using e-NPS or D-Remit for subsequent contributions does not remove the liability to pay the applicable PoP charges.
Are there any changes in NPS charges?
The Pension Fund Regulatory and Development Authority (PFRDA) has standardized the charges that Point of Presence (PoP) providers impose on subscribers of the National Pension System (NPS) and NPS Lite. According to a PFRDA circular dated August 28, 2026, the applicable charges will go into effect on October 1, 2026.
The new circular supersedes the previous circular of PFRDA dated March 10, 2026.
The Central Recordkeeping Agencies will implement the unified charge structure and deduct applicable charges from the third quarter (Q3) of FY 2026-27 onwards.
It is important for NPS subscribers to note that the earlier PoP charges were applicable to Common Schemes under NPS (All Citizen), including NPS Vatsalya and NPS Lite.
However, a PFRDA circular dated August 28, 2026, titled “Standardised Framework for Classification and Presentation of Schemes under the National Pension System (NPS),” has removed the distinction between Common Schemes and schemes introduced under the Multiple Scheme Framework (MSF), which was introduced for the NPS on October 1, 2025.
Earlier, PFRDA followed a “One PRAN (retirement account) – One Pension Fund Manager (PFM) – One Scheme” structure, under which subscribers could select either an Active Choice or an Auto Choice scheme.
However, following the introduction of the Multiple Scheme Framework (MSF), a single PRAN can now be mapped to multiple PFMs and schemes. This allows subscribers to diversify their NPS investments by allocating new contributions in specified proportions across different pension funds and asset classes.
As a result, the standardised PoP charges will now apply uniformly across all NPS schemes under NPS and NPS Lite as specified by PFRDA.
PFRDA has further stated that “the charges that may be collected by the point of presence from the subscriber shall be subject to the limit, mode, and manner of collection, as permitted by the Authority”.
The regulator has also clarified that all PoPs must immediately notify their stakeholders and publicly post their new pricing structure on their respective websites. Additionally, subscribers must be given easy access to this information during the transaction process via pop-up notifications during their digital onboarding process.
NPS charges applicable from 1st October 2026
According to PFRDA, the PoP charges for all NPS and NPS Lite schemes have been standardized in the following manner:
| Old vs New — charges in simple terms | |||
| Charge | Old: March 10, 2026 | New: August 28, 2026 | What changed? |
| Onboarding charge | Rs 200 per new account | Rs 200 per PRAN | Amount unchanged |
| How Rs 200 is collected | Rs 50 per quarter through cancellation of units | Rs 50 per quarter through cancellation of units | No change |
| Digital onboarding | Rs 100 may apply | Rs 100 may apply | No change |
| Annual PoP charge | 0.20% of AUM p.a. | 0.20% of AUM p.a. | No change |
| Collection of annual charge | Through NAV, quarterly | Through NAV, quarterly | No change |
| Dormant account | No charge | No charge | No change |
| GST/taxes | Extra | Extra | No change |
| Minimum contribution | Rs 250 initially, Rs 10 subsequently | Rs 250 initially, Rs 10 subsequently | No change |
Source: PFRDA
Note:
GST or taxes will be charged in addition to the aforesaid charges.
Other announcements for NPS subscribers
Also, in a circular dated August 28, 2026, PFRDA standardised the framework for the classification and presentation of schemes under the NPS.
The regulator said the framework aims to establish a uniform approach to classifying and presenting investment schemes, enable subscribers to make more informed investment decisions, and facilitate comparison of schemes offered by different Pension Funds.
It also prescribes uniform requirements for scheme naming, subscriber journeys, disclosures, and implementation.
Disclaimer: The charges mentioned are based on the PFRDA circular dated August 28, 2026. Subscribers are advised to verify the latest information with PFRDA, their Point of Presence (PoP), or the concerned Central Recordkeeping Agency (CRA). This article is for informational purposes only and should not be construed as investment, financial, tax, or legal advice.
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