Presentation on theme: "Registration of Administrative Offices and Subscribers"— Presentation transcript:
1 Registration of Administrative Offices and Subscribers Session IRegistration of Administrative Offices and Subscribers
2 Presentation Snapshot NSDLFeatures of NPSNPS ArchitectureFunctions of CRARegistration of nodal officesRegistration of Subscribers2
3 Features of NPSNSDLAs per the present guidelines of PFRDA, contribution towards pension will be invested in the default Schemes termed Scheme of various Pension Fund Managers in the proportion of 85% in fixed income instruments and 15% in equity and equity related instruments.Mandatory for entrants to Government (Central) service (excluding armed forces) who have joined services on or after January 1, 2004.Departure from ‘Defined Benefit’ to ‘Defined Contribution System’Registration-Unique & Portable Permanent Retirement Account Number (PRAN)Multiple Funds and Scheme optionsDefault Scheme to begin withSelect WithdrawalsAs per the present guidelines of Pension Fund Regulatory and Development Authority(PFRDA),contribution towards pension will be invested in the default Schemes termed Scheme of various Pension Fund Managers in the proportion of 85% in fixed income instruments and 15% in equity and equity related instruments. Hence, in the application form for PRAN,the details of the schemes need not be mentioned.3
4 NPS Architecture PFRDA NSDL NPS Trust Fund Flow Trustee Bank (BOI) PFRDANSDLOversightMechanismNPS TrustTrustee Bank(BOI)Fund FlowCustodian(SHCIL)NPSCAPFM (SBI)PFM (UTI)PFM (LIC)PAOCRA(NSDL)NAVThe NPS Architecture shown above is for government employees and Autonomous Bodies only.NPSCAN is just a web based interface between the nodal offices and CRA. Explain to the Nodal offices that they don’t need to worry to much about the terminology used.ASPs are not appointed at present. They will come in the picture later on.DDOOver InternetAnnuity ServiceProvidersSubscriberInformation Flow4Funds Flow
5 Functions of CRA Registration of nodal offices in the CRA system NSDLRegistration of nodal offices in the CRA systemIssuance of unique PRAN to SubscribersReceipt and Transmission of fund instructions to Trustee Bank and PFMIssuance of annual Transaction StatementProviding MIS on a regular basis to PFRDA and various other entities such as state governmentsGrievance ResolutionThe first and the foremost part is that of registration of NPS entities in the CRA system .i.e. Trustee Bank, PFM, Nodal Offices.Once the registration of the NPS entities is successfully completed in the system, the CRA will register the Subscriber in the system. CRA will also issue a unique PRAN card to these Subscribers. These Subscribers are the employees who have joined the Central Government on or afterOn successfully registering the Subscribers, the CRA system will start processing the Contribution Amount as per the Scheme Preference selected by the Subscribers.One of the scope of services of the CRA is to provide annual statement to these Subscribers.CRA will also provide various other services to the NPS entities .i.e. Mechanism for lodging & resolving grievances, Status check through CRA call centre etc.For each function, there is a module in CRA system Nodal offices and subscribers will have to play a part in the registration of nodal office and the subscriber. Nodal office will also update the subscriber details in the CRA system.Settlement: There will be then the settlement on the basis of contribution file uploaded by nodal office and the fund receipt confirmation by the Bank. A module which is complicated and explained in the next slidesCGMS: CGMS is also designed in the CRA system for logging and resolution of the grievances.IVR, Call centre: There will be IVR and call centre services provided to the subscriber and all the entities in CRA system. All the details of this will be discussed in the following slides.5
6 Registration Hierarchy NSDLPrAO RegistrationPAO RegistrationNodal offices centrally registered at CRADDO RegistrationIn the CRA system, the subscriber will be mapped to the Drawing and Disbursing Office (DDO), the DDO will be mapped to the PAO and the PAO will be mapped to the PrAO. Hence CRA will first register the PrAO followed by PAO, then DDO and then the subscriber registrations.Nodal offices – PrAO, PAO, DDO will be registered by CRA directly and the subscriber will be registered through CRA-FC. List of CRA-FC will be made available at CRA website.The Subscriber registration can commence only after the nodal offices have been registered in the CRA system.The CABs having more than one ‘Nodal Office’ generally opt for a De-centralised model. In case of CABs opting for De-centralised model, multiple PAOs are registered in CRA System. Whereas the CABs having the payment control centrally, opt for centralised model. In these cases, only one office is registered as a PrAO, PAO and a DDO.Subscriber RegistrationSubscribers will be mapped to DDOs, DDOs will be mapped to PAO and PAO will be mapped to PrAO66
7 Role of Oversight Mechanism NSDLMonitor the activities related to NPS which are carried out as per the defined procedurecan check the subscriber registration statuscan view pending contribution file detailscan view missing credits in subscribers’ accountsGrievance pending against Nodal offices.PrAO is the oversight mechanism.PRAN Registration Status: PAO Wise for upto last 3 months date range, the PrAO can view datewise PRANs generated during that date range, PRANs generated till that date, PRAN requests pending till that date.Pending Contribution Files: No. of days-No. of pending files7
8 Role of PAONSDLSubmit DDO registration forms/data to CRA for registration.Upload Subscriber Contribution File (SCF) to NPSCAN systemDeposit the contribution amount in the Trustee Bank as per the SCF uploaded in NPSCANUpdate and process requests for changes in subscribers’ detailsCan raise a grievance on behalf of DDO and the SubscriberResolve the grievance raised against it by any entities in the CRA systemIn case of de-centralised model for CABs, the DDOs can be registered based on soft copy of the data provided by the PAOs.8
9 Role of DDO Registration of Subscribers NSDLRegistration of SubscribersDistribution of PRAN kit, I-PIN, T-PIN to SubscribersProviding information to PAO about Subscriber’s contributionForwarding Subscriber’s request to PAO for change in details, switch, new scheme setup, etc.Forwarding subscriber’s Withdrawal requests to PAOForwarding Subscriber’s Grievance requests to PAODisbursing payment for withdrawal to subscribersRegistration- Registration of DDO. DDO will also forward the Registration form of Subscriber to PAO after authorizing the necessary details. DDO will fill up the employment details in subscriber registration form before sending it to PAO. The DDO as a good practice can give the form to the Subscriber at the time of joining and ask him to fill in the form. Once the PRAN is generated, the same can be made a part of his service book.DDO will also disburse the PRAN kit, I-Pin, T-pin to the subscriber which they will received from CRA through PAOsDDO will consolidate the subscriber contribution records which come under their purview and forward the same to PAO for uploading of the same.DDO will also forward the subscriber request for change in details, switch, new scheme setup to the PAO for processing in the NPSCAN system.DDO will also forward the subscriber withdrawal, grievance request to PAO.At the time of subscriber retirement, DDO will disburse the payment to the concerned person after receiving the payment from PAO.9
10 Subscriber Registration -physical applications NSDLSubscriber to submit Form S1 to DDO in duplicatePhotograph & Signature/Thumb impression of SubscriberDDO shall mention employment details of the Subscriber and forward to the PAOPAO shall verify the details in the form and forward to CRA facilitation centerUpon registration of subscribers, CRA will forward PRAN kit to PAO for onward submission to DDO. DDO will forward the same to subscribers.PRAN Kit :PRAN CardSubscriber Master ReportSubscriber BrochureI-PIN/T-PINThe DDO will forward the PRAN kit to the subscribers.
11 Understanding Subscriber Registration Form NSDLForm S1 – Application for allotment of PRANDetails of the formSection A – Personal Details (Mandatory- excluding bank details)Section B – Employment Details (Mandatory)Section C– Nomination Details (Optional)Section D– Scheme DetailsSection E – Declaration for I-Pin, T-PinEach Section has mandatory and optional fieldsThe sections or mandatory/optional as given. Within each section there will be mandatory and optional fields.Personal details include core details such as name, date of birth, demographic details etc.Employment details are provided by DDO and contains – Date of joining, retirement date, pay scale etc. For existing subscribers that have joined before March 31, 2009, PPAN would be mandatory. In CABs’ case, the 16 digit PPAN number can be generated as : PAO registration number followed by the employee code issued by the PAO ofice. e.g. if the employee code for an employee is 023, and a PAO reg. No. is then the 16 digit PPAN can be constructed as Alpha numeric employee codes can also be entered, so if an employee’s code is A025, PPAN can be A025Nomination: Subscriber can nominate maximum three persons by specifying percentage share. If sum of the percentage is not equal to 100% than nominee request will get rejected. Minor Nominee-Guardian required.4. Scheme preference: At present there is only one scheme with a combination of each PFM - SBI-40%, UTI- 31% and LIC -29%. 85% will be invested in Fixed Income securities and 15% in equity related instruments..5. Subscriber has to sign a declaration for accessing CRA website and IVR.11
12 Subscriber Registration – Complete Process Flow NSDLSubscriber1. Submission of Form9. PRAN kit2. Verification of details, provide employment details, Consolidation and SubmissionPAODDOsDDO8. DDO packetsOnce PRN is generated, CRA shall dispatch PRAN Cards within 20 days4. Generate PRN and/or Rejection Letter3. Submission offorms7. Generation & dispatch of PRAN card, I – Pin& T - PinCRAThe CRA will not obtain any supporting documents to verify the registration details.Since the subscribers are connected to CRA through DDOs & PAOs, all the supporting documents are verified & kept at these places (DDOs & PAOs).In case of rejection, CRA-FC will issue a rejection memo. acknowledgement number will not be generated for all these applications which are rejected upfront.DDO/PAO will have to submit a subscriber application form with the necessary corrections.PRN – Provisional Receipt Number (15 digit no + 2 digit Acknowledgement no)PRN is an identification to know from which centre the form has been received.FC will hand over the provisional receipt to the PAO for reference.FC will upload the subscriber registration file the CRA. CRA will generate the PRAN and send to the PAOs and upload the information in CRA system.CRA shall consolidate DDO wise PRAN kits and prepare a DDO wise packet. These DDO packets will further be consolidated into a PAO wise final packet. Hence, PAO will receive a packet containing DDO wise PRAN Kits along with a covering letter mentioning the details of the DDO wise PRAN kits.On receipt of the PRAN kits, PAO shall open the envelope and verify the number of DDO packets received with the contents of the covering letter. If same is found to be in order, it shall forward the packets to the respective DDO.5. Scanning & digitization of FormsCRA-FC6. Verification through FVU and Upload12
13 Subscriber Registration - Control Points NSDLAll employment details (Section – B) to be filled completely by DDOSubmission of physical application forms to CRA-FC, DDO wise in a single lot of not more than 50 forms
14 Central Recordkeeping Agency, NSDL Trade World, ‘A Wing’, 4th Floor Contact at:Central Recordkeeping Agency, NSDLTrade World, ‘A Wing’, 4th FloorKamala Mills Compound, S. B. MargLower Parel, MumbaiTel. NoFax Noid :Website:14
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