NSDL e-Governance Infrastructure Limited and PFRDA (Pension Fund Regulatory and Development Authority) have entered into an annexure related to the mounting of a CRA (Central Record keeping Agency) for the NPS (National Pension System). The NPS was introduced by Government of India for its newly joining employees “at and on after January 01, 2004”.
CRA is the core infrastructure for the National Pension System and are critical for its successful operationalization. The main affairs and responsibilities of the Central Record keeping Agency include as:
- Record keeping, Administration and customer service functions for all the subscribers of NPS.
- Issuing of unique Permanent Retirement Account Number (PRAN) to each subscribers, maintaining a database of all PRAN issued and recording transactions related to each PRAN subscriber’s.
- Acting as operational interface between PFRDA and other NPS intermediaries such as Pension Funds, Annuity Service Providers, Trustees Bank etc. CRA will monitor member contributions, instructions and transmit the information to the relevant Pension Fund and schemes on a daily basis. CRA will provide periodic, consolidated PRAN statement to each member and discharge such other duties and functions as may be determined by the guidelines, directions and regulations issued by PFRDA from time to time.
Go to main site: Please click https://enps.nsdl.com/eNPS/NationalPensionSystem.html
Central Government :
The Central Government had introduced NPS (National Pension System) with effect on and after January 1, 2004. PFRDA (Pension Fund Regulatory and Development Authority), the regulatory body for NPS, had appointed NSDL as CRA (Central Record keeping Agency) for National Pension System. CRA is the first of its kind venture in India which are carrying out the functions of Record Keeping, Administration and Customer Service for all the subscribers under NPS. The CRA will issue a Permanent Retirement Account Number to each client and will record every type of transaction related to each PRAN, as well as preserving the database of each Permanent Retirement Account. Permanent Retirement Account Number – PRAN.
State Government :
“The Central Government had introduced the NPS with effect from “January 01, 2004”. Pension Fund Regulatory and Development Authority (PFRDA) and the regulatory body for NPS, finalising the architecture and appointed NSDL as CRA and other entities for NPS. Subsequently, several State Governments adopted this architecture and executioned NPS with effect from different dates.
Note : In NPS, all government employees make mandatory contributions to the pension scheme from their monthly salary. The same contribution is also made by the government in the pension fund. The funds are then invested in earmarked investment schemes through Pension Fund Managers. Monthly Contribute from employees Basic Salary and dearness allowances (DA) at 10% and Government contribution at 15%.
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- PayManager – Pay Bill Preparation System For Rajasthan Govt Employees
- SIPF – State Insurance Provident Fund
Scheme detailed Information:
As per present guidelines of PFRDA (Pension Fund Regulatory and Development Authority), contribution towards pension will be invested in a default scheme of three Pension Fund Managers (PFMs), LIC Pension Fund Limited, SBI Pension Funds Privet Limited and UTI Retirement Solutions Limited in a predefined proportion, which is mentioned in the Statement of Transaction. Each of the PFMs will invest funds in the proportion of 85% in fixed income instruments and 15% in equity and equity linked mutual funds.
Therefore, the employees of the Central Government and Central Autonomous Bodies do not get the option of mentioning the details of the schemes while filling the application form.
Download NPS Registration Form please click here NPS Subscriber Registration Form