PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
CIRCULAR
CIR No.: PFRDA/2022/06/SUP-POP/01
Date: 16 March 2022
To,
All Points of Presence (PoPs-NPS-Lite)
Dear Sir / Madam,
Subject: Guidelines for Operational Activities – to be followed by Point of Presence (PoPs-NPS-Lite)
In exercise of the powers conferred under Section 52 of Pension Fund Regulatory and Development Authority Act, 2013 read with Chapter VII of Pension Fund Regulatory and Development Authority (Points of Presence) Regulations, 2018, and amendments thereof, the following guidelines are being issued. These guidelines shall supersede the earlier guidelines dated 1st January 2016 issued for compliance by all Points of Presence registered under Regulation 3(1)(iv) – NPS-Lite-Swavalamban scheme (hereinafter referred to as ‘PoP-NPS-Lite’). The guidelines may be modified by Pension Fund Regulatory and Development Authority (PFRDA) from time to time depending upon the service requirements. These guidelines shall be effective from 1st April 2022.
The detailed guidelines covering following points are enclosed along with this circular.
A. Service Standards
B. Standard Operating Procedures
C. Contribution Management Procedure
D. Reports and Disclosures
E. Redressal of grievances
F. Other Functions
All entities are advised to update their system and streamline the processes to follow the operational guidelines issued by the Authority.
Yours faithfully,
-sd-
(Sumeet Kaur Kapoor)
Chief General Manager
[email protected]
GUIDELINES FOR THE POINTS OF PRESENCE REGISTERED UNDER REGULATION 3(1)(iv) – NPS-LITE-SWAVALAMBAN SCHEME OF PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (POINT OF PRESENCE) REGULATIONS, 2018, AND AMENDMENTS THEREOF.
In exercise of the powers conferred under Section 52 of Pension Fund Regulatory and Development Authority Act, 2013 read with Chapter VII of Pension Fund Regulatory and Development Authority (Points of Presence) Regulations, 2018, and amendments thereof, the following guidelines are being issued. These guidelines shall supersede the earlier guidelines dated 1st January 2016 issued for compliance by all Points of Presence registered under Regulation 3(1)(iv) – NPS-Lite-Swavalamban scheme (hereinafter referred to as ‘PoP-NPS-Lite’). The guidelines may be modified by Pension Fund Regulatory and Development Authority (PFRDA) from time to time depending upon the service requirements. These guidelines shall be effective from 1st April 2022.
A. Service Standards
[1] PoP-NPS-Lite shall duly follow the ‘Service Standards’ as prescribed under Schedule I of these guidelines for providing the services under NPS-Lite-Swavalamban scheme.
[2] PoP-NPS-Lite shall collect the contributions from the NPS-Lite-Swavalamban scheme subscribers on regular basis and aggregate the contribution information and the relevant funds at the level of the nodal office.
[3] PoP-NPS-Lite shall provide services, such as carrying out subsequent transactions for the subscribers and other services like shifting of PoP-NPS-Lite, change in personal details of the subscriber, processing of exit/withdrawal request, follow up on initiation of exit request under NPS-Lite by the subscriber etc., in accordance with Schedule I of guidelines.
[4] PoP-NPS-Lite shall make good the loss to the subscriber in the event of any delay or violation for the activities prescribed under Schedule 1 as under:
(i) Financial transactions –
PoP-NPS-Lite shall pay @ bank rate + 2% p.a. of the transaction amount, which will be contribution amount (in case of deposit) or exit proceeds (in case of exit/ withdrawal claim), rounded off to next integer value, or as per rate determined by the employer/ aggregator for their employees/ associates, whichever is higher, for the period of delay. The bank rate shall be as applicable as prevalent on date of receipt of contribution.
(ii) Non-financial Transactions –
PoP-NPS-Lite shall pay @Rs 5 per day, subject to a maximum of Rs 100, or as per the rate determined by the employer /aggregator for their employees/ associates, whichever is higher, for the period of delay.
[5] PoP-NPS-Lite shall always encourage subscribers to do cashless transactions.
[6] PoP-NPS-Lite shall facilitate their underlying eligible subscribers for migration to Atal Pension Yojana (APY) scheme or National Pension System (NPS), if the subscriber so desires.
[7] PoP-NPS-Lite shall resolve the grievances of the subscribers in accordance with Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015 and amendments thereof.
[8] In accordance with Pension Fund Regulatory and Development Authority (Points of Presence) Regulations, 2018, and amendments thereof, PoP-NPS-Lite may engage the services of other service providers or banking correspondents, for facilitating distribution of pension schemes, as facilitators and shall ensure the following while associating with any facilitator:
(i). The terms and conditions of operations between PoP-NPS-Lite and the facilitator/s shall be mutually agreed upon and shall be in accordance with the Pension Fund Regulatory and Development Authority (Points of Presence) Regulations, 2018, and subsequent amendments thereof, as well as the present guidelines.
(ii) PoP-NPS-Lite shall ensure flow of information from facilitators to PoP-NPS-Lite in such a way that all Turn Around Times (TATs) as prescribed under service level standards in Schedule I, or approved by PFRDA under File and Approve mechanism, are strictly adhered to.
(iii) PoP-NPS-Lite shall ensure that the facilitators contact or communicate only with it on all matters, and any direct communication with PFRDA shall not be entertained in any event whatsoever.
(iv). PoP-NPS-Lite shall compile and ensure submission of the prescribed MIS reports on behalf of its associated facilitators, to PFRDA. Facilitators shall not directly submit any MIS report / information to PFRDA, which in event thereof, shall not be accepted as submission.
[9] PoP-NPS-Lite shall make available all NPS-Lite-Swavalamban scheme related forms, as prescribed by PFRDA from time to time, on its website and/ or at branches.
[10] PoP-NPS-Lite shall adhere to the PFRDA Act 2013 and all regulations made thereto, and circulars, guidelines, directions, advisories etc. issued by PFRDA from time to time.
B. Standard Operating Procedures
PoP-NPS-Lite shall adhere to the Standard Operating Procedures (SOPs) prescribed by the Central Recordkeeping Agency (‘CRA’) and / or PFRDA for the operational activities with respect to NPS-Lite-Swavalamban scheme.
C. Contribution Management Procedure
PoP-NPS-Lite shall comply with the following procedures and parameters to ensure transparency, uniformity and risk minimization.
[1] NPS-Lite-Swavalamban scheme contribution collection process
(i).PoP-NPS-Lite shall ensure that credible collection infrastructure is available to its underlying subscribers.
(ii). PoP-NPS-Lite shall open or maintain a collection account in the name of “Name of the PoP or its abbreviation –Collection Account – Name of pension scheme or its abbreviation – National Pension System Trust or its abbreviation” and such account shall be a non-withdrawable account with an option to transfer the funds to the NPS Trust account. In exceptional cases such as wrong entries, unidentified entries or amount not pertaining to subscriber contribution, it may be credited to any other account as may be specified by PFRDA through guidelines/circulars. PoP-NPS-Lite shall be required to record the reasons for such transfers in writing. The authority to transfer the amount from collection account will reside with the Point of Presence, which shall be subject to audit by PFRDA or its authorized representative, and the decision of the PFRDA on the same shall be final and binding.
As illustration, if the Point of Presence performing activities of NPS-Lite-Swavalamban Scheme is State Bank of India, then nomenclature of the collection account will be “SBI – Collection Account – NPS-Lite -NPS Trust”.
(i). PoP-NPS-Lite can have a collection account with itself if it is a banking entity or with any scheduled commercial bank if it is a non-banking entity.
(ii). PoP-NPS-Lite shall collect the subscriber’s contribution only from the designated/ registered branches or facilitator.
(iii). PoP-NPS-Lite shall ensure that the list of designated/registered branches including that of the facilitators, which are authorized to collect contribution from subscribers, must be made publicly available.
(iv). PoP-NPS-Lite shall ensure that the acknowledgement slip / receipt with unique number (preferably digital receipt) is being issued to the subscribers.
(v). PoP-NPS-Lite shall ensure to collect the Permanent Account Number (PAN) of the subscribers for all cash transactions exceeding Rs.50,000/-(Rupees Fifty Thousand) or as prescribed under Rule 114B of the Income-tax Rules, 1962.
[2] Pooling of contribution in the collection account
(i).PoP-NPS-Lite is prohibited to share its collection account number with any of its individual subscribers, to avoid direct deposit of the contribution by cash/cheque into the collection account.
(ii). PoP-NPS-Lite shall ensure that the cash/cheque collected, is deposited during the Bank working hours within the TATs as prescribed under Schedule I.
(iii). PoP-NPS-Lite shall ensure that the deposit slips are signed and stamped by the Bank and copies are available with the PoP-NPS-Lite for further inspection and audit.
(iv). PoP-NPS-Lite shall ensure that the fee and charges earned from NPS-Lite-Swavalamban Scheme related transactions are transferred to the internal account of the PoP-NPS-Lite from the collection account maintained by the PoP-NPS-Lite, to ensure proper reconciliation. Further, necessary IT arrangements shall be made by PoP-NPS-Lite for the same.
(v). PoP-NPS-Lite shall ensure that incentive / income for NPS-Lite-Swavalamban Scheme, received from CRA is not credited in the collection account. The PoP-NPS – Lite shall share the separate account details with CRA to receive such incentive/ income.
(vi). PoP-NPS-Lite shall ensure that no funds remain un-identified/ un-reconciled in the collection account maintained by the PoP-NPS-Lite, and details of all contributions credited into the collection account shall be uploaded into the CRA system and funds are remitted to the Trustee Bank, as per the timelines prescribed under the Schedule I.
(vii). PoP-NPS-Lite shall ensure strict compliance of directions/circulars issued by PFRDA in respect of processing of contributions received from aggregators/ payment gateways for digital transaction. Further, PoP-NPS-Lite shall ensure display of settlement time and charges at the level of aggregators/ payment gateways for digital transaction, at the time of initiating payment of contributions by the subscriber.
[3]Handling of systematic/ technical issues
PoP-NPS-Lite shall capture and maintain the records of screenshot of an error occurring in the event of any unsuccessful attempt of making a transaction at the CRA portal, and/or records of fund remittance to the Trustee Bank.
[4]Risk Mitigation Measures
(i). PoP-NPS-Lite shall monitor credit and debit entries in the collection account on daily basis.
(viii). PoP-NPS-Lite shall ensuredue diligence during the registration of subscribers, wherever applicable and necessary vigil on the entire fund collection process.
(ix). The compliance officer of the PoP-NPS-Lite shall internally review compliance of the PFRDA Act, rules and regulations made thereunder, notifications, circulars, guidelines, directions, advisories etc. issued by the PFRDA from time to time, on at least quarterly basis or more frequently, if required, and record of the same shall be maintained. Any deviations to the aforesaid, are to be mandatorily and transparently reported to PFRDA immediately upon disclosure.
D. Reports and Disclosures
[1] The PoP-NPS-Lite shall submit the duly signed and scanned / digitally signed copy of the following reports to PFRDA, at [email protected], from the e-mail id of the Compliance Officer or as per the mode prescribed by PFRDA from time to time:
(i) Exception and Compliance Report shall be submitted to Supervision department – PoPs, PFRDA within one month of completion of every Half year (30th April and 31st October for Half Year ending September and March respectively), as per Annexure 1.
(ii) Cyber Security Certificate as per Annexure 2.
[2] The details of NPS-Lite-Swavalamban scheme related activities undertaken by
facilitators/ any other channel approved by PFRDA or Government of India, shall also be included by the PoP-NPS-Lite in the report mentioned above.
[3] PoP-NPS-Lite shall also submit the details/reports as may be specified by PFRDA from time to time.
E. Redressal of grievances
[1] PoP-NPS-Lite shall internally maintain the Grievance Redressal Mechanism in accordance with the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015, for redressing complaints with respect to the services rendered to NPS-Lite-Swavalamban scheme subscribers. The name, e-mail id/s and telephone number/s of the designated Grievance Redressal Officer (GRO) of the ‘PoP-NPS-Lite’ shall be made public through display on website and/or at branches. The GRO shall ensure that the grievances of subscribers are redressed effectively and expeditiously in compliance with the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015.
[2] PoP-NPS-Lite shall monitor the grievances lodged in the Central Grievance Management System (CGMS) on daily basis and it shall ensure that those grievances are resolved on an immediate basis.
[3] PoP-NPS-Lite shall be responsible for receiving grievances from the subscribers and other intermediaries, uploading of grievances into CGMS portal of CRA, if not received through CGMS, and verification and redressal of such grievances.
[4] The PoP-NPS-Lite shall ensure that an effective mechanism to receive and redress complaints from the subscribers is in place and the grievances are examined and redressed in a prompt and fair manner.
[5] PoP-NPS-Lite shall lodge its grievance, if any, against any intermediary such as CRA or Trustee Bank, in CGMS.
F. Other Functions
[1] Appointment of Compliance Officer
(i).Each PoP-NPS-Lite shall appoint a ‘Compliance Officer’ who shall be responsible for monitoring compliance under the NPS-Lite-Swavalamban Scheme, including that of provisions of the PFRDA Act, rules, regulations, notifications, circulars, guidelines, directions, advisories etc. issued by PFRDA from time to time.
(ii). PoP-NPS-Lite shall ensure that any change in Compliance Officer is communicated to PFRDA within 15 (fifteen) calendar days of the same. Further, frequent change of Compliance Officer may be avoided to ensure the continued monitoring and compliances.
(iii). The latest details available with PFRDA with respect to the Compliance Officer of the PoP-NPS-Lite shall be considered for serving any notice(s) or taking any regulatory action, in case of any breach of any regulation or operational guidelines, as envisaged under the extant Regulations.
[2] IT and cyber security requirements:
PoP-NPS-Lite shall have adequate IT infrastructure at all its branches registered for carrying out the activities under NPS-Lite-Swavalamban scheme prescribed under the PFRDA Act, 2013, rules, regulations, notifications, guidelines etc.
(i) For access to the CRA system, the concerned PoP-NPS-Lite shall:
(a) Have uninterrupted internet connectivity for web-based interaction;
(b) Have demonstrated capability to electronically transmit the information related to NPS-Lite-Swavalamban scheme subscriber contribution through the Subscriber Contribution Files (SCFs) as per the prescribed timelines;
(c) Have adequate systems with Operating System (OS), web browsers etc. at all its branches and back office softwares for:
(I) Receiving transaction requests and uploading in the CRA system;
(II) Issuance of acknowledgement slips with unique ID against receipt of subsequent contribution and all other activities; and
(III) Monitoring status of each transaction and generating regular MIS reports for internal control purposes.
(ii). It shall be the responsibility of the PoP-NPS-Lite to utilize the IT infrastructure and act on the basis of views and reports made available online/ offline by CRA, for providing quality service delivery to the NPS-Lite-Swavalamban scheme subscribers.
(iii). PoP-NPS-Lite shall ensure compliance of cyber security policy and submit the reports as prescribed by PFRDA from time to time.
Other details and relevant documents are available at www.pfrda.org.in
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SCHEDULE I: Service Standards for PoP-NPS-Lite
Types of Activities | Service Requirements | Turn Around Time |
1. Subscribers Registration | ||
Registration of Gramin Dak Sevaks (GDS) / NPS-Lite subscribers* | PoP- NPS-Lite/ shall submit the application complete in all respects to Central Record Keeping agency (CRA)/CRA-FC. | Maximum T+9, where T is the date of joining of the Gramin Dak Sevaks (GDS)/ the date of receipt of application, whichever is applicable |
2. Contribution Processing | ||
2.1. Collection and Processing of contribution by the PoPs -NPS Lite which belongs to the following categories:
a) Entities/ Departments / Ministries of Central & State Governments; b)Entities created by Central and State Governments for any specified group of beneficiaries; and c) Non-Banking entities |
i. PoP-NPS-Lite / branches of PoP- NPS-Lite / facilitators shall provide acknowledgement slip / receipt with unique number along with receipt date and stamp/ signature.
ii. Post verification of PRAN, PoP- NPS-Lite/branches of PoP-NPS-Lite / facilitators shall put non-cash instruments for clearance. iii. PoP-NPS-Lite shall credit the clear funds into the collection account if the same has been realized into the account, other than the collection account. iv. PoP-NPS-Lite shall reconcile the contribution, prepare the SCF, upload SCF and generate transaction id in the CRA portal. v. PoP-NPS-Lite shall remit the funds along with the transaction id to Trustee Bank post successful upload of SCF at CRA portal |
PoP-NPS-Lite to file the Turnaround Time (TAT) for activities mentioned under second column of point 2.1 with PFRDA within 3 months from
date of issuance of guidelines under File- and- Approve mechanism. In case of non-filing of TAT within prescribed timeline or till the time the TATs are filed and approved by the PFRDA, the maximum T+4, |
2.2 Collection and Processing of Contribution by PoPs- NPS Lite other than 2.1 | i. PoP-NPS-Lite / branches of PoP-NPS-Lite / facilitators shall provide acknowledgement slip / receipt with unique number along with receipt date and stamp/ signature.
ii. Post verification of PRAN, PoP-NPS-Lite / branches of PoP-NPS- Lite / facilitators shall put non-cash instruments for clearance. iii. PoP-NPS-Lite shall credit the clear funds into the collection account if the same has been realized it into the account other than collection account. iv. PoP-NPS-Lite shall prepare, v. PoP-NPS-Lite shall remit the funds along with the transaction id to Trustee Bank post successful upload of SCF at CRA portal |
Maximum T+4, where T is the receipt of contributions by the PoP-NPS- Lite /branches of PoP- NPS-Lite / facilitators. |
3. Processing of Service request(s) | ||
Subscribers’ service request(s) i.e. Change in subscribers details, change of PoP, inter-sector shifting, Migration to APY etc. |
i. PoP-NPS-Lite / branches of PoP- NPS-Lite / facilitators shall provide acknowledgement slip / receipt with unique number alongwith receipt date and stamp/signature.ii. PoP-NPS-Lite / branches of PoP-NPS-Lite / facilitators shall upload and process the service request(s) as per the SOP (Standard Operating Procedure) provided by CRAs at their portal. |
Maximum T+5, where T is the date of receipt of complete request by the PoP-NPS-Lite /branches of PoP- NPS-Lite / facilitators. |
4. Grievance Management and Exit processing | ||
a. Grievances received from NPS Lite subscribers/ prospects
|
i. PoP-NPS-Lite / branches of PoP-NPS-Lite / facilitators shall receive and upload grievances into CGMS at CRA portal on the same day.
ii. PoP-NPS-Lite / branches of PoP-NPS-Lite / facilitators shall resolve the grievances received in CGMS in accordance with relevant regulations. |
As per the Pension Fund Regulatory and Development Authority (Redressal of subscriber grievance) Regulations, 2015 and if, any amendments thereto. |
b. Processing of exit
requests
|
i. PoP-NPS-Lite / branches of PoP- NPS-Lite / facilitators shall provide acknowledgement slip / receipt with unique number alongwith receipt date and stamp/ signature.
ii. PoP-NPS-Lite / branches of PoP-NPS-Lite / facilitators shall upload and process the exit requests and partial withdrawal requests as per the SOP (Standard Operating Procedure) provided by CRAs at their portal. |
Maximum T+7, in case of superannuation or premature exit and T+12 in case of death, where T is the receipt of such forms by the PoP-NPS-Lite /branches of PoP-NPS-Lite / facilitators.
Provided that the form along with supporting documents, as prescribed therein, are duly submitted |
* If and when permitted by the PFRDA
Note: The working days are to be considered for calculation of T and the prescribed TATs indicate the maximum timeframe prescribed for particular activities. However, PoP-NPS-Lite shall ensure carrying out the activities in shortest possible time.
Annexure – 1
Exception and Compliance Report
[To be submitted by PoP-NPS-Lite to PFRDA at ‘[email protected]’ by 30th April and 31st October for the Half Year ending September and March respectively, through registered email id of Compliance Officer, digitally signed/duly signed and scanned]
Section A: Certificate of Compliance – 30 September________ / 31 March
Sr. No. | Particulars | Complied With (Yes/No) |
Exceptions along with reasons to be provided* / any other remarks |
1 | Whether acknowledgment receipts/ slips are being
provided to the subscriber for subsequent contribution and service requests as prescribed under Schedule I of guidelines? |
||
2 | Whether all funds received from subscribers by the PoP-NPS-Lite are being deposited to collection account by the PoP-NPS-Lite/ branches of PoP-NPS-Lite / facilitators as prescribed under Schedule I/ approved by PFRDA under File-and-Approve mechanism? | ||
3 | Whether the contribution processing i.e. SCF upload and fund remittance are uploaded by the PoP-NPS-Lite as per the prescribed TATs under Schedule I/ approved by PFRDA under File-and-Approve mechanism? | ||
4 | Whether the directly received grievances in respect of NPS- Lite by the PoP-NPS-Lite are being lodged under the CGMS? | ||
5 | Whether all grievances in CGMS at CRA portal are being resolved within the time frame provided in the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015? | ||
6 | Whether the service requests are being processed as per prescribed TATs under Schedule I? | ||
7 | Whether the exit / withdrawal requests are being processed as per prescribed TATs under Schedule I? | ||
8 | Whether the subscriber/ claimants’ are being contacted for additional documents demanded by CRA for settlement of claims? | ||
9 | Whether PoP-NPS-Lite are making efforts to educate NPS-Lite subscriber, who has attained the age of 60 years, to exit from scheme? | ||
10 | Whether the terms and conditions of operations between PoP-NPS-Lite and facilitator are in accordance to the laid down Pension Fund Regulatory and Development Authority (Points of Presence) Regulations, 2018, and amendments thereof? | ||
11 | Whether the activities done by associated facilitator are being monitored by the PoP-NPS-Lite regularly as per the prescribed TATs under Schedule I/ approved by PFRDA under File-and-Approve mechanism? | ||
12 | Whether the PoP-NPS-Lite is ensuring disclosure of settlement time and charges of payment service provider for digital transactions, at the time of initiation of transactions for the contributions collected through payment gateways? |
||
13 | Whether the PoP-NPS-Lite provides and displays the information related to offer documents or any other publicity material pertaining to NPS-Lite to the subscribers at its registered/ designated branches and website? | ||
14 | Whether the PoP-NPS-Lite is adhering to the regulations, circulars, guidelines, directions, advisories etc. as issued by NPS Trust / PFRDA from time to time for specified activities? | ||
15 | Whether the PoP-NPS-Lite has outsourced any activity beyond the extant regulation, circular, guidelines, directions, advisories issued by PFRDA from time to time? | ||
16 | Whether fees and charges collected by the PoP-NPS-Lite are as prescribed by PFRDA and disclosed to subscriber transparently? | ||
17 | Whether the PoP-NPS-Lite had made good the loss, on claim filed by the subscriber as per the prescribed rate under the guidelines? | ||
18 | Whether the acknowledgement slip / receipt with unique number alongwith receipt date and stamp/signature for all activities has been provided to subscriber(s) as prescribed under Schedule I? | ||
19 | Whether PoP-NPS-Lite has ensured compliance of cyber security measures and submitted the reports as prescribed by PFRDA from time to time. |
Section B: Exception Report – 30 September________ / 31 March
Type of activities | No. of days of delay beyond prescribed /filed and approved timelines | No. of transactions delayed |
Delays in Collection of Contribution beyond the prescribed/filed and approved timelines in accordance with Schedule I | ||
Delays in Processing of Contribution beyond the prescribed/ filed and approved timelines in accordance with Schedule I | ||
Delays in processing of Service request(s) beyond the prescribed timelines in accordance with Schedule I | ||
Delays in processing of exit requests beyond the prescribed timelines in accordance with Schedule I | ||
Note: In case there is no deviation from the Service Level Standards, it shall be mentioned in the report as ’No deviation observed/ NIL’.
Section C: Details of activities carried out by PoP- NPS-Lite – 30 September___________________________________ / 31 March
Sr. No. | Activity | Count of unique PRANs / Subscribers |
1 | Subscribers tagged with PoP-NPS-Lite as on last day of the Half Year | |
2 | Subscribers who have contributed during the Half Year | |
3 | Subscribers who have attained the age of 60 years but exit is yet to be processed |
Section D: Details of collection account maintained by PoP-NPS-Lite as on
30 September________ / 31 March__________
Section D1 – Details of closing balance
S. No. | Bank account number | Name of the Bank | Name of collection account | Closing Balance |
Section D2 – Details/ bifurcation of closing balance
S. No. | Bank account number | Name of the Bank | Name of collection account | Closing Balance |
Section D2 – Details/ bifurcation of closing balance
S. No. | Name of the subscriber / PRAN / SCF Transaction details (whichever available) | Amount | Date of receipt of clear funds | Date of remittance to the Trustee Bank, if done |
I hereby certify that while performing all the activities as mentioned under Annexure 1 during the Half Year from ___________________________ to ___________________________________________ , the prescribed TATs and other instructions as per operational guidelines have been complied with. Exceptions, if any, have been reported with remarks.
Name of Compliance Officer: | |
Designation: | Signature of compliance officer along with Office seal. |
Correspondence Address: | |
Mobile No. / Landline No.: | |
Email id: | |
Date: | |
Place: |
Note 1: Each page of report needs to be signed by compliance officer.
Note 2: Attach separate sheet for each section separately, if required.
Note 3: All information / declarations submitted by Compliance Officer under the Annexure 1 is subject to Audit / Inspection carried out by the PFRDA from time to time.
Annexure -2
Subject: Compliance of Cyber Security Policy by Point of Presence (PoPs) and Individual Retirement Advisers (RAs) in accordance with CIR No.: PFRDA/2020/13/SUP-POP/2 dated April 21, 2020
(i) All PoPs and Non-Individual RAs are required to adhere to the cyber security measures and compliances as mentioned in the Cyber Security Policy of PFRDA, as detailed in Circular PFRDA/2017/31/CRA/5 dated 04.10.2017 and also as mandated by their principal regulator (as applicable).
(ii) In compliance with (i) above, the PoPs and Non-Individual RAs are hereby advised to submit the Compliance certificate with respect to cyber security for respective Financial Year (FY) as per Annexure 2.1 (enclosed) within 30 days from the end of the said FY. They are also advised to submit the report on cyber-attacks incident pertaining to NPS activities, if any, as per Annexure 2.2 (enclosed) immediately on occurrence of such incident.
Annexure 2.1
(To be submitted on letterhead within 30 days from the end of the Financial Year)
To
Head of Department
Supervision Department – PoPs and RAs,
Pension Fund Regulatory and Development Authority,
B-14/A, Chatrapati Shivaji Bhawan,
Qutab Institutional Area, Katwaria Sarai, New Delhi -110016
Subject: Compliance certificate with respect to cyber security for FY
This is to certify that (Name of PoP/non- individual RA) registered vide Reg. No. with Pension Fund Regulatory and Development Authority (Authority), is adhering to the cyber security measures as mentioned in the cyber security policy of the Authority and also as mandated by our principal regulator (as applicable).
Name of CISO/ Compliance officer: | |
Designation: | Signature of CISO/Compliance officer along with office seal. |
Mobile No./Landline No: | |
Email id: | |
Date: | |
Place: |
Note: Compliance report for cyber security shall be submitted by PoP only once instead of scheme wise.
Annexure 2.2
(To be submitted on letterhead immediately on occurrence of cyber-attacks) To
Head of Department
Supervision Department – PoPs and RAs,
Pension Fund Regulatory and Development Authority,
B-14/A, Chatrapati Shivaji Bhawan,
Qutab Institutional Area, Katwaria Sarai, New Delhi -110016
Subject: Reporting of cyber-attacks incident.
Sr. No. | Cyber security parameter | Details |
1 | Details of cyber security attack/ breaches including the nature, severity and the steps taken for rectification. | |
2 | Whether all the incidents of cyber security attacks have been reported to CERT-In, as prescribed under Section 70B of the Information Technology Act, 2000 and the Rules made thereunder (Details to be provided). | |
3 | Whether a definite response plan defining responsibilities and actions to be performed by the employees and support/ outsourced staff in the event of cyber-attacks or breach of cyber security mechanism, is in place.
Was the same effective during the said cyber- attack? Improvements proposed post cyber-attack may be highlighted. |