PoPs to get upto 210,000 commission from next month
The PoP players in the NPS scheme are set to get a commission of Rs 15-10,000 from next month if subscribers route their voluntary contributions through the Direct Remit (D-Remit) facility under the all citizen model.
The move aims to compensate the Point of Presence (PoPs) players who were los-ing fees.
PoPs are banks, non-banking financial companies and other players which register and service subscribers under the National Pension System (NPS). They are the first point of interaction between the subscriber and NPS.
The Pension Fund Regulatory and Development Authority (PFRDA) said the move will support the PoPs as they have put in significant efforts and deployed their resources for sourcing ‘pensions the NPS accounts.
For them to sustain their NPS outreach efforts, it has been decided that the trail commission shall be payable to PoPs, with effect from September 1, 2022, according to a PFRDA circular.
“The trail commission on contributions made through D-Remit will be similar to eNPS (other mode of online contribution) by those sub-scribers who were on-board-ed by the respective PoPs. The trail commission to PoPs for D-Remit contributions of the associated subscribers will be 0.20 per cent of the contribution amount, with minimum Rs 15 and maximum Rs 10,000,” PFRDA said.
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