|
Intermediary |
Charge head |
Service Charges* |
||||||
|
Private / Govt. |
Lite/APY |
|||||||
|
CRA |
PRA Opening charges |
CRA charges for account opening if the subscriber opts for Physical PRAN card (in Rs.) |
CRA charges for account opening if the subscriber opts for ePRAN card (in Rs.) |
Rs. 15 |
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|
Welcome kit sent in physical |
Welcome kit sent vide email only |
|||||||
|
NCRA |
40.00 |
35.00 |
18.00 |
|||||
|
KCRA |
39.36 |
39.36 |
4.00 |
|||||
|
Note: The reduction in charges will be on the current charge structure and excludes applicable taxes. Charges will be applicable post release of the functionalities by CRAs to capture the choice of NPS subscribers to have physical or ePRAN card. |
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|
Annual PRA Maintenance cost per account |
NCRA: Rs. 95 KCRA: Rs. 57.63 |
NCRA: Rs. 25 KCRA: Rs. 14.40 |
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|
Charge per transaction |
NCRA: Rs. 3.75 KCRA: Rs. 3.36 |
Free |
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|
POP |
- |
Private |
Govt. |
- |
||||
|
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% of AUM p.a. (For Private Sector) |
0.0102% of AUM p.a. (For Government Sector) |
|||||
|
NPS Trust |
Reimbursement of Expenses |
0.005% p.a |
||||||
* In case of Government employees, CRA charges are being paid by the respective Governments.
|
Payment Gateway Service Charge (Applicable for transactions made on eNPS platform) |
Mode of Payment |
Method for quotation rate per transaction |
Payment Gateway Service Provider |
|
IndiaIdeas.com Limited (Billdesk) |
|||
|
Credit cards |
Percentage (%) of transaction value |
0.75% |
|
|
Debit cards |
Free |
NA |
|
|
Internet Banking |
Flat rate in INR |
0 |
|
|
UPI |
Free |
NA |
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
