NPS INFORMATION

Entities in NPS

Entities in the System

NPS Architecture for All Citizens of India Sector

Pension Fund Managers

Pension Fund Managers are appointed by PFRDA to maintain the Pension contribution of all subscribers through various schemes offered by PFM. Subscribers will have the option to invest their contributions into one or more schemes of the PFMs. The PFMs will responsible for providing the Net Asset Value of the Schemes offered to the CRA. PFMs will allot units based on NAV as applicable.

Trustee Bank

NPS Trust formed by PFRDA would be responsible for taking care of the funds under the NPS. The Trust would hold an account with the Trustee Bank appointed by PFRDA. The Trustee Bank upon receiving credits from Nodal offices would transmit the information to CRA for reconciliation. The Trustee Bank shall remit fund to the entities viz. PFMs, ASPs and subscribers on receipt of instructions from CRA.

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Annuity Service Providers

Annuity Service Providers (ASPs) are be appointed by PFRDA to maintain the annuity contribution of subscribers through their various schemes. Subscribers will have the option to invest their amount into one annuity scheme upon retirement/resignation. ASPs would be responsible for delivering a regular monthly pension (annuity) to the subscriber for the rest of his/her life.

Currently, 07 Annuity Service Providers have been appointed :

1. Bajaj Allianz Life Insurance Co. Ltd.
2. HDFC Life Insurance Co. Limited
3. ICICI Prudential Life Insurance Co. Ltd.
4. Life Insurance Corporation of India
5. Reliance Life Insurance Co. Ltd.
6. SBI Life Insurance Co. Ltd.
7. Star Union Dai-ichi Life Insurance Co. Ltd.