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PFRDA Proposes Wider Digital Access and PoP Accountability Rules
PFRDA is considering new rules for the organizations that help people use the National Pension System.
More types of organizations, including co-operative societies and trusts, could become service providers.
This may make NPS available in more smaller towns and underserved areas.
The rules would create separate physical and digital ways to open and manage accounts.
Physical providers would need at least five offices in India.
Helpers currently called Pension Agents would be called NPS Mitras.
The main service provider would still be responsible if a helper makes a serious mistake or commits fraud.
Providers and their helpers would also have to keep subscribers’ information private.
PFRDA has proposed expanding eligibility for entities that can become Points of Presence for NPS services.
The draft creates separate physical and digital routes for onboarding, contributions, and service requests.
Physical PoPs would need at least five Indian branches or offices and required technology infrastructure.
The term “Pension Agent” would be replaced by “NPS Mitra,” while PoPs would remain responsible for their conduct.
PoPs would be liable for fraud or negligence causing subscriber losses and must protect subscriber information.
- Who
- The Pension Fund Regulatory and Development Authority proposed the changes for NPS Points of Presence and their subscribers.
- What
- PFRDA released an exposure draft amending the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018.
- Where
- The proposed rules apply to NPS services in India, including physical and digital access channels.
- When
- The draft was released on Thursday, with stakeholder comments invited until 2 October 2026.
- Why
- The proposals aim to expand the PoP network, improve access in underserved and last-mile areas, and make digital onboarding and servicing more accessible.
Key facts
- Regulator
- Pension Fund Regulatory and Development Authority (PFRDA)
- Affected system
- National Pension System (NPS)
- Current regulations
- Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
- Comment deadline
- 2 October 2026
- Potential new PoPs
- Co-operative societies, LLPs, societies, associations, and trusts, in addition to companies, banks, and NBFCs
- Physical PoP requirement
- At least five branches or offices in India, plus required technology infrastructure
- Subscriber protection
- PoPs would remain liable for established fraud or negligence causing subscriber losses and must maintain confidentiality of subscriber information
Sources
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