NPS Fee Rules Change from October 1: ₹200 Onboarding Charge, 0.20% AUM Fee
What Happened
The Pension Fund Regulatory and Development Authority (PFRDA) has revised the fee structure for National Pension System (NPS) subscribers from October 1, 2026. New subscribers joining through a Point of Presence (PoP) will pay a one-time ₹200 onboarding fee per PRAN, recovered in quarterly installments of ₹50. Additionally, PoPs will receive an annual fee of 0.20% of Assets Under Management (AUM), adjusted through the NAV and collected quarterly. Dormant accounts are exempt from the AUM charge.
Key Takeaways
The new structure standardises charges across NPS schemes and may slightly increase costs for active subscribers with larger NPS balances. However, fully digital onboarding can attract a lower ₹100 fee, while dormant accounts and some e-NPS users may avoid certain PoP charges.