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Intermediaries
Central Record Keeping Agency (CRA)
Under the new pension system, Central Record Keeping Agency (CRA) will be required to maintain subscriber accounts and issue a unique Permanent Retirement Account Number (PRAN) to each subscriber. CRA undertakes Record Keeping, Administration and Customers service. National Securities Depository Ltd (NSDL) has been appointed as the CRA for the NPS. In this system, deductions towards NPS will be made from subscriber’s salary on monthly basis and equal amount of contribution will be made by the Government. The accumulated amount will be reflected in subscriber Permanent Retirement Account while the subscriber is working and shall use the accumulations at retirement to procure a pension for the rest of his/her life.

Pension Funds Managers (PFMs)
Responsible for the management of pension fund assets under the New Pension System, PFRDA has appointed three pension fund managers to manage the pension fund assets of Central and State Government employees namely LIC Pension Fund Ltd., SBI Pension Fund (Pvt.) Ltd. And UTI Retirement Solutions Ltd.
Further, PFRDA has appointed six pension fund managers to manage the pension fund assets under the New Pension System made available to the general public with effect from 1st May 2009, namely ICICI Prudential Pension Funds Management Company Limited, IDFC Pension Fund Management Company Limited, Kotak Mahindra Pension Fund Limited, Reliance Capital Pension Fund Limited, SBI Pension Funds Private Limited, UTI Retirement Solutions Limited.

Trustee Bank
NPS Trust has appointed Bank of India as the Trustee Bank. Bank of India branches are authorized to collect NPS Trust contributions from contributors.

NPS Custodian
Custodian Agency is responsible for holdings of the NPS Trust. NPS Trust has appointed Stock Holding Corporation of India Ltd as the custodian for the new pension system.

Annuity Service Providers (ASP)
ASP will offer Annuity schemes to the Subscribers. Receive Funds from CRA & Pay Regular Monthly Annuity at the time of exit at retirement or earlier. The member has to purchase an annuity from one of the Life Insurance Companies regulated by IRDA.

Points of Presence (PoPs)
PoP performs the functions relating to registration of subscribers, undertaking Know Your Customer (KYC) verification, receiving contributions and instructions from subscribers and transmission of the same to designated NPS intermediaries.

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