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Session I. Registration of Administrative Offices and Subscribers. Presentation Snapshot. Features of NPS NPS Architecture Functions of CRA Registration of nodal offices Registration of Subscribers. ®. NSDL. 2. Features of NPS.

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Presentation Transcript
session i
Session I

Registration of Administrative Offices and Subscribers

presentation snapshot
Presentation Snapshot

Features of NPS

NPS Architecture

Functions of CRA

Registration of nodal offices

Registration of Subscribers

®

NSDL

2

features of nps
Features of NPS

Mandatory for entrants to Government (Central) service (excluding armed forces) who have joined services on or after January 1, 2004.

Departure from ‘Defined Benefit’ to ‘Defined Contribution System’

Registration-Unique & Portable Permanent Retirement Account Number (PRAN)

Multiple Funds and Scheme options

Default Scheme to begin with

Select Withdrawals

®

NSDL

As per the present guidelines of PFRDA, contribution towards pension will be invested in the default Schemes termed Scheme of various Pension Fund Managers in the proportion of 85% in fixed income instruments and 15% in equity and equity related instruments.

3

slide4

NPS Architecture

NPS Trust

Fund Flow

Trustee Bank

(BOI)

Custodian

(SHCIL)

N

P

S

C

A

N

PFM (SBI)

PFM (UTI)

PFM (LIC)

CRA

(NSDL)

PAO

DDO

Annuity Service

Providers

Over Internet

®

PFRDA

NSDL

Oversight

Mechanism

NAV

Subscriber

Information Flow

4

Funds Flow

functions of cra
Registration of nodal offices in the CRA system

Issuance of unique PRAN to Subscribers

Receipt and Transmission of fund instructions to Trustee Bank and PFM

Issuance of annual Transaction Statement

Providing MIS on a regular basis to PFRDA and various other entities such as state governments

Grievance Resolution

Functions of CRA

NSDL

®

5

registration hierarchy
Registration Hierarchy

NSDL

®

PrAO Registration

Nodal offices centrally registered at CRA

PAO Registration

DDO Registration

Subscriber Registration

Subscribers will be mapped to DDOs, DDOs will be mapped to PAO and PAO will be mapped to PrAO

6

6

slide7
Monitor the activities related to NPS which are carried out as per the defined procedure

can check the subscriber registration status

can view pending contribution file details

can view missing credits in subscribers’ accounts

Grievance pending against Nodal offices.

Role of Oversight Mechanism

NSDL

®

7

slide8
Submit DDO registration forms/data to CRA for registration.

Upload Subscriber Contribution File (SCF) to NPSCAN system

Deposit the contribution amount in the Trustee Bank as per the SCF uploaded in NPSCAN

Update and process requests for changes in subscribers’ details

Can raise a grievance on behalf of DDO and the Subscriber

Resolve the grievance raised against it by any entities in the CRA system

Role of PAO

NSDL

®

8

slide9
Registration of Subscribers

Distribution of PRAN kit, I-PIN, T-PIN to Subscribers

Providing information to PAO about Subscriber’s contribution

Forwarding Subscriber’s request to PAO for change in details, switch, new scheme setup, etc.

Forwarding subscriber’s Withdrawal requests to PAO

Forwarding Subscriber’s Grievance requests to PAO

Disbursing payment for withdrawal to subscribers

Role of DDO

NSDL

®

9

slide10
Subscriber to submit Form S1 to DDO in duplicate

Photograph & Signature/Thumb impression of Subscriber

DDO shall mention employment details of the Subscriber and forward to the PAO

PAO shall verify the details in the form and forward to CRA facilitation center

Upon registration of subscribers, CRA will forward PRAN kit to PAO for onward submission to DDO. DDO will forward the same to subscribers.

Subscriber Registration -physical applications

NSDL

®

  • PRAN Kit :
  • PRAN Card
  • Subscriber Master Report
  • Subscriber Brochure
  • I-PIN/T-PIN
understanding subscriber registration form
Understanding Subscriber Registration Form

Form S1 – Application for allotment of PRAN

Details of the form

Section A – Personal Details (Mandatory- excluding bank details)

Section B – Employment Details (Mandatory)

Section C– Nomination Details (Optional)

Section D– Scheme Details

Section E – Declaration for I-Pin, T-Pin

Each Section has mandatory and optional fields

NSDL

®

11

1 submission of form

1. Submission of Form

Subscriber Registration – Complete Process Flow

NSDL

®

Subscriber

9. PRAN kit

2. Verification of details, provide employment details, Consolidation and Submission

PAO

DDO

DDOs

8. DDO packets

Once PRN is generated, CRA shall dispatch PRAN Cards within 20 days

4. Generate PRN and/or Rejection Letter

3. Submission of

forms

7. Generation & dispatch of PRAN card, I – Pin

& T - Pin

CRA

5. Scanning & digitization of Forms

CRA-FC

6. Verification through FVU and Upload

12

slide13

Subscriber Registration - Control Points

NSDL

®

All employment details (Section – B) to be filled completely by DDO

Submission of physical application forms to CRA-FC, DDO wise in a single lot of not more than 50 forms

slide14

Contact at:

Central Recordkeeping Agency, NSDL

Trade World, ‘A Wing’, 4th Floor

Kamala Mills Compound, S. B. Marg

Lower Parel, Mumbai 400 013

Tel. No. 2499 4200

Fax No. 2499 4974

Email id : info.cra@nsdl.co.in

Website: www.npscra.nsdl.co.in

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