PFRDA circular PFRDA/2024/03/REG-POP/03 · 11 Mar 2024
Official title
Surrender of existing CoR issued under Regulation 3(1)(iii) of the erstwhile PoP Regulations, 2018
Summary
Check the official recordThe Pension Fund Regulatory and Development Authority (PFRDA) has directed entities previously registered under Regulation 3(1)(iii) of the 2018 PoP Regulations—which were authorized solely for distributing and servicing NPS for their own employees and personnel—to surrender their existing Certificate of Registration (CoR). Affected entities must complete this surrender by September 30, 2024. Prior to surrender, entities are required to submit all pending annual compliance certificates, compliance reports, and audit reports. Following the surrender, entities may either apply for a new registration under the amended regulations, provided they meet the specified eligibility criteria, or associate with another eligible Point of Presence to ensure the continued servicing and transfer of their employee subscribers.
What you must do
Key dates
Who is affected
[Image omitted. See the official document.]
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
CIRCULAR
PFRDA/2024/03/REG-POP/03 Date: 11th March, 2024
To, The Points of Presence registered under Regulation 3 (1) (iii) of the erstwhile PFRDA (Point of Presence) Regulations, 2018
Subject - Surrender of existing Certificate of Registration (CoR) issued under Regulation 3 (1) (iii) of the erstwhile PFRDA (Point of Presence) Regulations, 2018 i.e. National Pension System (NPS) – Distribution and servicing only for own employees and other personnel either through physical or online platforms and seeking new registration, or be associated with another eligible Point of Presence (PoP), as the case may be.
Proviso to sub-regulation (1) of the Regulation 3 states that:
“Provided that the entity(s) already registered for distribution and servicing only its own employees and other personnel, either through physical or online platforms, prior to these amendments, shall surrender its certificate of registration, and
a. seek registration or authorization in such manner as may be directed by Authority; or
b. be associated with a point of presence, for its employees who are subscribers, within the time period so directed.”
(i) Surrender their existing certificate of registration issued under regulation 3 (1) (iii) of the erstwhile PFRDA (PoP) Regulations, 2018 at the earliest, but not later than 30th September 2024; and may either
(a) Seek new registration under Regulation 3(1) (a) of the amended Regulations subject to meeting the eligibility criteria as specified under Regulation 5 thereof; or
(b) Shall continue to be associated for an interim period and service its employees who are NPS subscribers, and ensure timely transfer of all these subscribers to such other eligible PoPs at the earliest, before the surrender of its certificate of registration to the Authority.
PoPs are advised to ensure submission of Annual Compliance Certificate, Compliance Report / Audit Reports (as required to be submitted by them in compliance to PoP regulations/guidelines applicable to them), before surrender of CoR issued to them under PoP Regulations 2018.
All the concerned PoPs are advised to take note of the above and ensure compliance within the stipulated timeline.
A copy of the aforementioned amended Regulations is placed on PFRDA’s website at (https://www.pfrda.org.in/myauth/admin/showimg.cshtml?ID=2861.)
This Circular has been issued in exercise of the powers conferred under Section 14(1) of the Pension Fund Regulatory and Development Authority Act, 2013.
ASHISH KUMAR BHARATI (Ashish Kumar Bharati) General Manager
CC : To all the PoPs and concerned stakeholders
[Image omitted. See the official document.]
पेंशन निधि विनियामक एवं विकास प्राधिकरण PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
परिपत्र
पीएफआरडीए/2024/03/आरईजी-पीओपी/03 दिनांक : 11 मार्च, 2024
प्रति, पूर्ववर्ती पीएफआरडीए (उपस्थिति अस्तित्व) विनियम, 2018 के विनियमन 3 (1) (iii) के तहत पंजीकृत उपस्थिति अस्तित्व
विषय : पूर्ववर्ती पीएफआरडीए (उपस्थिति अस्तित्व) विनियम, 2018 के विनियम 3(1)(iii) अर्थात राष्ट्रीय पेंशन प्रणाली (एनपीएस) - केवल अपने कर्मचारियों तथा अन्य कार्मिकों हेतु भौतिक या ऑनलाइन प्लेटफॉर्म के माध्यम से वितरण और सर्विसिंग - के अंतर्गत जारी विद्यमान पंजीकरण प्रमाणपत्र (सीओआर) का समर्पण और नए पंजीकरण प्राप्त करना, अथवा किसी अन्य पात्र उपस्थिति अस्तित्व (पीओपी) से जुड़ना, जैसा भी मामला हो।
संशोधित विनियमों के विनियम 3(1) का परंतुक निम्नानुसार है :
" परन्तु इन संशोधनों से पहले भौतिक या ऑनलाइन प्लेटफॉर्म के माध्यम से केवल अपने कर्मचारियों और अन्य कार्मिकों के लिए वितरण और सेवाओं हेतु पंजीकृत संस्थाएं, अपना पंजीकरण प्रमाणपत्र वापस लौटाएंगी, और
(क) प्राधिकरण द्वारा निर्देशित तरीके से पंजीकरण या प्राधिकार प्राप्त करेंगी अथवा ;
(ख) इस प्रकार निर्देशित समयावधि के भीतर अपने उन कर्मचारियों, जो अभिदाता हैं, के लिए उन्हें उपस्थिति अस्तित्व के साथ संबद्ध किया जाएगा”।
i. पूर्ववर्ती विनियमों के विनियम 3(1)(iii) के अंतर्गत जारी किए गए उनके विद्यमान पंजीकरण प्रमाणपत्र को, जल्द से जल्द किन्तु 30 सितंबर 2024 के पहले समर्पित करना होगा, अन्यथा:
(a) विनियमों के विनियम 3(1)(क) (यथासंशोधित) के अंतर्गत नए पंजीकरण के लिए अनुरोध कर सकते हैं, जो इन विनियमों के विनियम 5 (यथासंशोधित) के अंतर्गत निर्दिष्ट पात्रता मानदंडों को पूरा करने के अधीन होगा; या
