Transcript
Page 1: Registration of Administrative Offices and Subscribers 1

Registration of Administrative Offices and Subscribers

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Presentation Snapshot

Features of NPSNPS ArchitectureFunctions of CRARegistration of nodal officesRegistration of Subscribers

®® NSDL

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Features of NPSMandatory 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.

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Subscriber

PAO

NPSCAN

CRA(NSDL)

Custodian(SHCIL)

NPS Trust

DDO

Trustee Bank(BOI)

Fund Flow

Annuity ServiceProviders

Funds Flow

Information Flow

Over Internet

NPS Architecture

PFM (SBI)PFM (UTI)PFM (LIC)

NAV

PFRDA®®

NSDL

Oversight Mechanism

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Registration of nodal offices in the CRA system

Issuance of unique PRAN to Subscribers Receipt and Transmission of fund instructions to

Trustee Bank and PFMIssuance 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

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Registration Hierarchy

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

Nodal offices centrally registered at CRA

PrAO Registration

PAO Registration

Subscriber Registration

®® NSDL

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DDO Registration

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Role of Oversight Mechanism®® NSDL

• 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.

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Role of PAO®® NSDL

• 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

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Role of DDO®® NSDL

• 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

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Subscriber to submit Form S1 to DDO in duplicate• Photograph & Signature/Thumb impression of

SubscriberDDO shall mention employment details of the

Subscriber and forward to the PAOPAO 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

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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

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Subscriber

DDOs PAO

1. Submission of Form

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

7. Generation & disp

atch of PRAN card, I – Pin

& T - Pin

5. Scanning & digitization of Forms

6. Verification through FVU and Upload

4. Generate PRN and/or Rejection Letter

CRA

Subscriber Registration – Complete Process Flow

DDO8. DDO packets

9. PRAN kit

3. Submission offorms

CRA-FC

®® NSDL

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

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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

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®® NSDL

Subscriber Registration - Control Points

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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 : [email protected]

Website: www.npscra.nsdl.co.in


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