NPS Functionalities released by CRAs during Quarter I of FY 2021-22 | PFRDA Circular
PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B 14 A.Chhatrapati Shivaji Bhawan
Outab Institutional Area
Katwana Sarai New Delhi-10016
September 2, 2021
All NPS stakeholders
Subject: NPS Functionalities released by CRAs during Quarter I of FY 2021-22
The Central Record Keeping Agencies (CRAs) appointed by PFRDA develop system level functionalities as per the evolving needs of NPS stakeholders in accordance with Section 21 of PFRDA Act 2013.
CRAs have tile responsibility to develop new functionalities or utilities, establish new processes, offer multiple models of interface for the uploading offices in order to provide maximum flexibility in terms of operation for the benefit of the subscribers as an ongoing exercise to fulfil their obligations which ultimately benefit the Subscribers.
The functionalities which are developed and made available by CRAs (Refer Annexure I and II) during Quarter I of the current FY 2021-22 are categorized as under –
- NPS Regular / eNPS
- NPS – Lite/ APY
The circular is placed in the intermediary section of CRA on PFRDA website, for the information of all NPS stake holders.
For additional technology based solutions or improvement in the existing digital interface, kindly write to the undersigned or Mr. A. Ramesh Kumar (ramesh[dot]kumar[at]pfrda[dot]org[dot]in).
(K. Mohan Gandhi)
Chief General Manager
Annexure II – Functionalities released by NSDL CRA during Q1 of 2021-22
|Name of Development/ Functionalities
|NPS Regular/ eNPS
|If subscriber’s KYC has been rejected due to Address mismatch by the POP then subscriber can opt for ReKYC by Aadhaar Offline XML. In this case, subscriber’s KYC details will be fetched from offline XML ZIP file uploaded by subscriber.
|Annuity Service Provider (ASP) & Annuity Scheme Selection
|Smart Exit Guide
|Generation of Subscriber Registration Form (PDF)
|Generation of Subscriber Registration Form (PDF) after every registration in CRA. As of now, form will be generated on the basis of latest details available in CRA records and it will be made available in Subscriber login
|Subscriber Alerts on credit timelines
|At the time of Contribution and PFM/ Scheme preference change through Subscriber login, pop-up message regarding credit timelines will now be displayed to the Subscriber.
|Subscriber Alerts on Type/Contribution
|At the time of contribution through eNPS, alert messages are being shown with Tier type and Contribution amount (in numbers and words) to Subscribers.
|Enablers during Withdrawal by Nominee/ Legal Heirs due to unfortunate death of Subscribers
New Withdrawal from Death Withdrawal request for the following has been enabled:
(A) Govt. sector Subscribers,
|Sharing of Soft copy of NPS account opening form
|The Subscribers who are registering in CRA through eNPS, OTP Authenticated/ eSigned registration forms will be sent as an attachment to their registered email ID, upon successful registration.
|Mobile App – Alerts
|At the time of PPM/Scheme Preference Change through Mobile pp, pop-up message regarding credit timelines is displayed to the Subscriber.
|NPS Regular / Mobile App – Scheme Preference Change
|PFM change once and Investment choice/Scheme preference change twice in a Financial Year has been enabled for Government Sector Subscribers.
|eNPS – Additional option of Payment Gateway Service Provider (PGSP)
|Integration of Razor-pay as PGSP
|Alert at the time of One Way Switch
|At the time of making one-way switch request in CRA, an alert will be displayed about contribution in Tier I that it is non-withdrawable account and the redemption amount (in numbers and words)
NACH Mandate registration and contribution remittance by Nodal Offices which is,
The information is exchanged conveniently through emails.
|Higher Contribution m Govt Sector – 1.4 times of employee contribution
Following validations have been added in CRA at the time of contribution for Govt. Nodal Offices:
Employer contribution to be 1.4 times of employee contribution
|Building Transparency by Display of Charges Transaction Statement
|Registration forms in Document Management System (OMS)
|NPS Lite/ APY
|Active Bank Account Flag in APY Exit file format
|Changes in Withdrawal Account File shared to Trustee Bank
Withdrawal Account File (WAC) is a system generated xml file which is used to provide fund transfer instructions to Trustee Bank.
Generation of common WAC file having data of all the redemption from the system – CRA, NPS Lite withdrawals as well as ERM. Earlier three WACs were generated – CRA, Lite and ERM.
Source: Click here to view/download PDF