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.