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  • POP and CRA Charges under the New Pension Scheme

    Given below are the POP and CRA Charges for the New Pension Scheme:

    POP

    Corporate entities can negotiate the charges with POP for the provision of the NPS service (this is subject to the limits and ceilings that have been put in place by the PFRDA). Here are the current POP charges for the NPS for All Citizens:

    Intermediary

    Charged Under Heading

    Charges (Service taxes and other applicable levies will be charged as per the existing laws)

    Method through which charges are deducted

    POP

    Initial subscriber registration and contribution upload.

    Rs.100, plus 0.25% of the contribution (which is subject to a minimum of Rs.20 and a maximum of Rs.25,000).

    This charge is collected up front.

     

    Any subsequent transaction.

    0.25% of the contribution (which is subject to a minimum of Rs.20 and a maximum of Rs.25,000).

    Any other transaction not involving contributions from subscribers = Rs.20.

     

    Other intermediary charges

    Intermediary

    Charged Under Heading

    Charges (Service taxes and other applicable levies will be charged as per the existing laws)

    Method through which charges are deducted

    CRA

    PRA Opening Charges

    Rs.50

    Cancellation of Units.

    Annual PRA Maintenance costs (per account)

    Rs.225

    Charges per registration

    Rs.5

    Trustee Bank

    Transactions emanating from RBI locations (per transaction).

    Rs.0

    Deduction of NAV.

    Transactions emanating from non-RBI locations (per transaction)

    Rs.15

    Custodian (on asset value that’s in custody

    Asset Servicing Charges

    0.0075% p.a. (Electronic segment)

    Deduction of NAV.

    0.05% p.a. (Physical segment)

    PFM charges

    Investment Management Fees

    As charged by PFM

    Deduction of NAV.

    Here’s some important information relating to the charges mentioned above: 

    • The CRA’s charges include charges for:
    • The maintenance of the electronic information of the balances in the PRA.
    • Sending out of annual account information once a year (in print).
    • Changing PRA details.
    • The PFM’s Investment Management Fees include all charges related to the transaction such as:
      • Brokerage.
      • Transaction Cost.
    • And does not include:
      • Custodian Charges.
      • Applicable taxes.
    • This fee is calculated on the average monthly assets managed by the pension fund.
    • The subscriber is not charged Trustee Bank Charges directly. The term “transaction” refers to all the activities right from receiving the electronic instructions (or physical instrument) to transfer funds to the designated PFMs. It also includes all activities leading to credit the beneficiary account, on the outflow side.
    • Demat / Remat charges, SEBI charges and all charges relating to the receipt of shares are extra (in relation to Custodian Charges).
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