Subscribers of the National Pension System (NPS), Unified Pension Scheme (UPS), Atal Pension Yojana (APY), and NPS-Lite should take note—starting October 1, 2025, a new fee structure will come into effect.
The Pension Fund Regulatory and Development Authority (PFRDA) has revised the fees charged by Central Recordkeeping Agencies (CRAs). This new structure will replace the earlier one issued in June 2020.
Fees for Government Sector (NPS and UPS)
Opening a new PRAN: ₹18 for an e-PRAN kit, ₹40 for a physical PRAN card.
Annual maintenance charge: ₹100 per account.
Zero balance accounts: No charges.
Transaction charges: Nil.
Fees for Atal Pension Yojana (APY) and NPS-Lite
PRAN opening charge: ₹15
Annual maintenance: ₹15
Transaction charges: Nil
Fees for Private Sector (NPS and NPS Vatsalya)
PRAN opening: Same as government sector—₹18 for e-PRAN kit, ₹40 for physical PRAN card.
Transaction charges: Nil
Annual Maintenance Charges (AMC) Slab
Zero balance accounts: No charges
₹1 to ₹2 lakh corpus: ₹100
₹2,00,001 to ₹10 lakh corpus: ₹150
₹10,00,001 to ₹25 lakh corpus: ₹300
₹25,00,001 to ₹50 lakh corpus: ₹400
Above ₹50 lakh corpus: ₹500
Key Guidelines from PFRDA
This is the maximum ceiling; CRAs cannot charge more than this but can reduce fees after negotiations with customers, companies, and PoPs (Points of Presence).
AMC for private sector subscribers will be slab-based and applicable only on the Tier-I corpus.
For government sector UPS subscribers, the charge will apply only during the accumulation phase. Separate charges may be introduced later for pension payouts.
If CRAs launch new services in the future, charges will be set based on actual costs but only with PFRDA approval.
CRAs must display all charges clearly on their websites and mobile apps.
