Now choose NSDL e-governance or Karvy Computershare for NPS

National Securities Depository Limited (NSDL) e-governance Infrastructure has decided to drastically cut maintenance and account opening charges for subscribers of the National Pension System (NPS) from April 1. Owing to the competition with Karvy, it has decided to reduce charges. The subscribers would be provided with an option to choose between NSDL e-governance and Karvy Computershare.

After NSDL, Karvy Computershare is the second Central Recordkeeping Agency (CRA) that will cut the permanent retirement account (PRA) annual maintenance charge to Rs 95 from Rs 190 from February 15.  At the same time, account opening fee has been reduced to Rs 40 from the current Rs 50. It will also reduce transaction fee from the current Rs 4.

NSDL e-governance Infrastructure would be rationalising its charge structure w.e.f. April 1, 2017 which would be Rs 40 for PRA opening, Rs 95 for PRA annual maintenance and Rs 3.75 for each transaction.

As per the Pension Fund and Regulatory Development Authority (PFRDA), Karvy Computershare would be allowed to operate the new accounts till March 31, 2017. Thereafter, it will be allowed to function as a full-fledged CRA with interoperability functionality providing for option to shift for existing subscribers of NPS from April 1, 2017 onwards.