NPS charges at banks and other points of presence now start on 1 December 2026, not 1 October
PFRDA moved the new NPS charge structure for banks and other points of presence to 1 December 2026. What you pay, who pays nothing, and what to check.
Try it: NPS calculatorWork out your NPS corpus, the lump sum you can take (up to 80% for non-government subscribers), the annuity and the monthly pension it could buy.The Pension Fund Regulatory and Development Authority (PFRDA) has pushed back the date from which banks and other intermediaries can collect a new set of charges on NPS accounts. In a circular dated 26 October 2026, it moved the start from 1 October 2026 to 1 December 2026. Several guides, including ours, had said the charges began on 1 October. They do not. Here is what is confirmed.
What changed on 26 October 2026
PFRDA circular PFRDA/2026/53/REG-POP/09 changes only the date. It says the record-keeping agencies (CRAs) must deduct the charges from 1 December 2026. It says all other parts of its earlier circular of 28 August 2026 stay the same. It gives no reason for the delay.
What the charges are
These are the charges set by the 28 August 2026 circular for all NPS and NPS Lite schemes. They are collected for the point of presence (PoP), the bank or other intermediary through which you opened your account.
- One-time charge: ₹200 per PRAN (your permanent retirement account number). It is taken as ₹50 a quarter, by cancelling units from your account.
- Fully online opening: the one-time charge is ₹100 where the account is opened fully digitally, with no face-to-face contact, as PFRDA decides when it registers the PoP.
- Yearly charge: 0.20% a year of your balance, adjusted through the fund's NAV and paid to the PoP every quarter.
- Tax: GST and any other taxes are extra.
- Minimum payments: ₹250 when you open the account and ₹10 for each later contribution.
Who pays nothing
- If you opened your account on e-NPS and make every later payment through e-NPS or D-Remit, you pay no PoP charges.
- If you opened through a PoP, you still owe the charges even if you later pay through e-NPS or D-Remit.
- Dormant accounts pay no yearly charge. PFRDA calls an account dormant when no contribution is made for four quarters in a row, counted at the end of each quarter.
What to do now
- Check how your account was opened. Your NPS statement or your PoP can tell you.
- Look at your PoP's website. PFRDA says every PoP must display its charges publicly and show them in a pop-up when you sign up online.
- If you are about to open an account, opening it yourself on e-NPS avoids these charges, as PFRDA's rules stand.
- PFRDA's circular of 28 August 2026 says it replaces the earlier charge circular of 10 March 2026. With the new date moved, the earlier structure should stay in force until 1 December, but the 26 October circular does not say so in words. Ask your PoP what it will charge until then.
Our NPS withdrawal rules guide and October 2026 money changes post have been corrected. You can try your numbers in the NPS calculator.
Saifu is not registered with SEBI or PFRDA as an adviser. NPS investments are subject to market risk. This guide explains rules and is not a recommendation.
Sources: PFRDA: Charge structure applicable to PoPs, circular of 26 October 2026, PFRDA: Charge structure applicable to PoPs, circular of 28 August 2026, Taxguru: text of the PFRDA circular of 26 October 2026, Mint: PFRDA postpones the PoP fee structure to 1 December.
Rules, rates and limits change. Check the official source linked above before you rely on a figure here. Posts never contain referral or affiliate links from the writer.
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