Offer Document for NPS-All Citizen Model-Revised

National Pension System (NPS)
 
   Pension Fund Regulatory and Development Authority (PFRDA) originally established by the Government of India through a resolution dated 10th October, 2003 & 14th November, 2008, has since attained a statutory status post the passage of Pension Fund Regulatory and Development Authority Act, 2013. In accordance with the provisions of the said Act PFRDA is mandated to promote old age income security by establishing, developing and regulating pension funds, to protect the interest of the subscribers to the schemes of pensions funds and for matters connected therewith or incidental thereto.
 
   PFRDA has established the institutional framework and infrastructure required for administering the ‘National Pension System’ (NPS) for government employees as well as other citizens of India. For servicing of NPS subscribers, various intermediaries such as Central Recordkeeping Agency (CRA), Pension Fund Managers (PFMs) for professional management and investment of subscriber funds, Points of Presence (POP’s) for distribution of the product, Trustee Bank, Custodian and NPS Trust have been appointed and are functional.