|
Intermediary
|
Charge head
|
Service Charges*
|
|||
|
Private
|
Govt.
|
Lite/APY
|
|||
|
CRA |
PRA Opening charges
|
NSDL Rs 40 or Karvy Rs 39.36
|
Rs 15
|
||
|
Annual PRA Maintenance cost per account
|
NSDL Rs 95 or Karvy Rs 57.63
|
NSDL Rs 25 or Karvy Rs 14.40
|
|||
|
Charge per transaction
|
NSDL Rs 3.75 or Karvy Rs 3.36
|
Free
|
|||
|
POP |
Initial subscriber registration and contribution upload
|
Rs. 200
|
NA
|
NA
|
|
|
Any subsequent transactions
|
0.25% of contribution,
Min. Rs 20 Max. Rs 25000
Non-Financial Rs 20
|
NA
|
NA
|
||
|
Persistency
> 6 months & Rs 1000 contribution
|
Rs 50 per annum
|
NA
|
NA
|
||
|
Contribution through eNPS
|
0.10% of contribution,
Min. Rs 10 Max. Rs 10000
|
NA
|
NA
|
||
|
Trustee Bank |
|
NIL
|
|||
|
Custodian |
Asset Servicing charges
|
0.0032% p.a for Electronic segment & Physical segment
|
|||
|
PF charges |
Investment Management Fee
|
0.01% p.a.
|
0.0102% p.a. |
||
|
NPS Trust |
Reimbursement of Expenses
|
0.005% p.a
|
|||
* In case of Government employees, CRA charges are being paid by the respective Governments.
International Organisation of Pension Supervisors (IOPS) in its Working Paper 6 “Comparison of Costs + Fees in Countries with Private Defined Contribution Pension Systems” published by Denise Gomez Hernandez and Fiona Stewart had introduced the concept of “Charge Ratio” and “Equivalent Asset Fee” for enabling standardized international comparison of fees due to existence of diversity of charges across countries.
“Charge Ratio” measures the impact that any type of administrative charge can have on the final balance (after 25 or 40 years) of an individual retirement account compared to the hypothetical balance that could be obtained if no administrative fees were charged at all.
“Equivalent Asset Fee” is the annualized charge over assets which would have generated exactly the same final asset accumulation as the actual combination of charges on flows entering the individual account, on the accumulated assets and on the returns applied to the individual retirement account as well as any entry or exit charges applied to an individual retirement account during a certain period of time.
|
Particulars
|
Private
|
Government
|
Lite/APY
|
|
Charge Ratio
|
4.75%
|
0.72%
|
0.93%
|
|
EAF
|
0.169%
|
0.025%
|
0.032%
|
Assumptions
Monthly Contribution – Rs 1000
Return on Contribution – 8%
Contribution Period – 40 years
Maximum of CRA charges
