Since now, you have a basic understanding of NPS
let’s understand the eco system & how you can get started with your NPS journey.
Pension Fund Regulatory and Development Authority (PFRDA)
It is the regulatory body set up by the Ministry of Finance, Government of India to supervise, develop and regulate the pension market in India
Point of Presence (POPs)
These organizations are your first point of contact as a NPS subscriber. POPs provide a number of customer services to enable you in your journey of retirement planning.
Central Record Keeping Agency (CRA)
CRAs keep a record of all your documents related to your NPS subscription
Helps with the transfer of your (subscriber) funds among the various entities of the NPS ecosystem
It has been setup to ensure that invests in NPS are secure. It monitors the portfolios of the Pension Fund Managers
Pension Fund Manager (PFM)
Fund managers of Max Life Pension Fund Management have the responsibility to manage your funds invested in NPS as per the guidance issued by PFRDA
Holds and protects the underlying assets bought by the PFMs under your policy
Annuity Service Provider (ASP)
Life insurance companies such as Max Life Insurance are empaneled with PFRDA to provide you with an annuity service after you exit the NPS