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Pension regulator PFRDA has increased the incentives payable to points of presence (PoPs), which are the principal distributive points for National Pension System (NPS).
The enhanced incentives are expected to provide a boost to NPS adoption through PoPs, according to the Pension Fund Regulatory and Development Authority (PFRDA).
A new incentive for increasing persistency has been introduced under which PoPs will receive an incentive of ₹50 per account for every account which continues to contribute a minimum of ₹1,000 in a financial year. This incentive is only for NPS-All Citizen. For initial subscriber registration, the service charge has been increased to ₹200 from ₹125 now.
In the case of e-NPS (for subsequent contributions), the charge has been increased to 0.10 per cent of the contribution (only for NPS-All Citizen and Tier-II accounts). The earlier charge was 0.05 per cent.
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