Pension regulator PFRDA on Friday said it has increased incentives payable to Points of Presence (POPs) - the principal distributive points for National Pension System (NPS) - to promote the social security scheme.
As per an official release, the fee for initial subscriber registration to a POP has been increased to Rs 200 from the current Rs 125.
Also, a new incentive towards increasing persistency has been introduced. POPs will now receive an incentive of Rs 50 per account per annum for every account which continues to contribute a minimum of Rs 1,000 in a financial year.
Charges have also been increased in case of e-NPS (for subsequent contributions).
Pension Fund Regulatory and Development Authority (PFRDA) said it has taken several initiatives in the past few years to increase pension coverage. These include, introduction of e- NPS, reducing minimum contribution levels, new investment instruments and aggressive life cycle funds.