Archive · 23 Aug 2026
PFRDA Taps Mutual Fund Distributors to Expand NPS Reach
PFRDA wants more people to start saving for retirement through the National Pension System.
It plans to use mutual fund distributors, whom many investors already know and trust.
A platform called StAR NPS will help these distributors assist people digitally.
The distributors will help with the process, but official Points of Presence remain responsible for checking documents and following the rules.
Investors can use Central KYC or DigiLocker for verification.
Their first payment goes directly to the NPS Trustee Bank.
A PRAN is then generated through the recordkeeping agencies.
The registration charge is ₹200 plus taxes, and investors cannot be charged more than the prescribed fee.
Investors still choose their pension fund, investment option and asset allocation.
PFRDA is promoting the StAR NPS platform to widen National Pension System coverage through mutual fund distributors.
StAR NPS was launched by BSE Technologies Private Limited under a PFRDA circular dated 3 June 2026.
Mutual fund distributors act as facilitators, while Points of Presence retain responsibility for onboarding, compliance and grievances.
Investors can complete digital KYC and send initial contributions directly to the NPS Trustee Bank.
The onboarding charge is ₹200 plus applicable taxes, with no additional registration fee allowed for subscribers.
- Who
- The Pension Fund Regulatory and Development Authority, mutual fund distributors, Points of Presence and NPS investors.
- What
- PFRDA is using the StAR NPS platform to support assisted digital onboarding and expand NPS distribution.
- When
- The outreach programme was held on a Saturday; the platform was launched under a PFRDA circular dated 3 June 2026.
- Where
- The outreach programme was held in Chennai, while StAR NPS supports digital onboarding through participating Points of Presence.
- Why
- To expand pension coverage by enabling investors to discuss and access NPS through mutual fund distributors they already use.
- Platform
- StAR NPS
- Platform provider
- BSE Technologies Private Limited
- Facilitators
- Mutual fund distributors may act as associated Pension Agents under Points of Presence.
- KYC options
- Central KYC and/or DigiLocker-based verification
- Fund flow
- Initial contributions go directly to the NPS Trustee Bank rather than through the PoP’s account.
- Settlement timeline
- T+1, subject to prescribed conditions
- Onboarding charge
- ₹200 plus applicable taxes; subscribers cannot be charged more than the prescribed onboarding fee.