The Pension Fund Regulatory and Development Authority (PFRDA), through a circular dated May 12, 2026, clarified the framework for engagement of Pension Agents under the PFRDA (Point of Presence) Regulations, 2018 and the 2026 amendments. The circular noted that Pension Agents may now be engaged with one or more Points of Presence (PoPs) for distribution of pension schemes, making it necessary to establish proper identification and traceability across PoPs. Accordingly, PFRDA directed that the Permanent Account Number (PAN) of Pension Agents shall serve as the unique identifier across all PoPs, with suitable mapping maintained for each engagement. Central Recordkeeping Agencies (CRAs) were directed to capture and maintain PAN details, while PoPs must ensure accuracy of the information shared. PoPs are also required to publish updated lists of engaged Pension Agents on their websites every six months and appoint a senior-level Nodal Officer to handle queries from prospective Pension Agents. The circular was issued under Regulation 45 of the PoP Regulations, 2018 and Section 14 of the PFRDA Act, 2013, and came into effect immediately.
Pension Fund Regulatory and Development Authority
Circular No.: PFRDA/2026/26/REG-POP/05 Date: 12th May, 2026
To,
All Points of Presence (PoPs), Central Recordkeeping Agencies (CRAs) and Stakeholders under NPS
Subject: Clarification on engagement of Pension Agents under the PFRDA (Point of Presence) Regulations, 2018 and amendments thereof
In terms of the PFRDA (Point of Presence) (Amendment) Regulations, 2026, a Pension Agent may be engaged, through appropriate agreement(s), with one or more PoPs for distribution of the pension schemes for which such PoPs are registered. In view of the possibility of such multiple engagements, it is considered necessary to ensure proper identification and traceability of Pension Agents across PoPs through a unique identifier.
2. Accordingly, in terms of Regulation 44 read with Schedule IV of the PFRDA (Point of Presence) Regulations, 2018, and with the objective of streamlining the framework for engagement of Pension Agents and strengthening due diligence and monitoring, the following directions are hereby issued:
a. The Permanent Account Number (PAN) of Pension Agents shall serve as the unique identifier across all PoPs, with appropriate mapping to each PoP with which the Pension Agent is engaged.
b. CRAs shall capture and maintain the PAN of Pension Agents as the unique identifier. PoPs shall ensure the accuracy and completeness of details shared with CRAs.
c. PoPs shall place on their respective websites, under the NPS section, an updated list of Pension Agents engaged by them, on a half-yearly basis.
d. PoPs shall designate a suitable senior-level official as the “Nodal Officer” to address queries from prospective Pension Agents regarding their probable engagement with the concerned PoP. The details of such Nodal Officer, including name, designation, address, email ID and contact number, shall be displayed prominently on the homepage of the PoP’s website for facilitating communication with prospective Pension Agents.
3. All PoPs and CRAs shall ensure compliance with the above instructions with immediate effect. All other provisions of the PoP Regulations and circulars issued thereunder shall remain unchanged.
4. This circular is issued in exercise of the powers conferred under Regulation 45 of the PFRDA (Point of Presence) Regulations, 2018 and Section 14 of the Pension Fund Regulatory and Development Authority Act, 2013.
Yours sincerely,
(Ashish Kumar)
Chief General Manager
