PFRDA makes NPS retirement advisor registration easier

Pension regulator PFRDA on Tuesday said it has made the process of registration of retirement advisors easier for wider coverage of the National Pension System (NPS) and applicants can now apply online.

New Delhi: In order to smoothen the process of registration of retirement advisers, Pension Fund Regulatory and Development Authority (PFRDA) has transformed the process of submitting application from physical mode to online mode.

The applicants can now submit their application online and upload scanned images of all the required documents. This will reduce the application processing time.

PFRDA is registering Retirement Advisers for widening the coverage of NPS by facilitating on boarding of the subscribers and also providing advisory services to them for allocating assets under NPS and choosing Pension Fund Managers.

“Retirement Adviser” can be any individual, registered partnership firm, body corporate, or any registered trust or society, which desires to engage in the activity of providing advice on National Pension System or other pension schemes regulated by PFRDA to prospects / existing subscribers or other persons or group of persons and is registered as such under the PFRDA (Retirement Advisers) Regulations.

NISM and FPSB India are providing necessary certification in order to become eligible for registration as Retirement Adviser. However, Investment Advisers registered with SEBI are exempted from the requirement of such certifications and they can directly submit their application to PFRDA for registration.