Karvy CRA is a back office for maintaining records, administration and customer service functions which is playing an important role to the successful operationalization of the NPS. NPS is designed on defined contribution basis wherein the subscriber contributes to his account.
Karvy eNPS allows individuals to open online Pension Account under NPS with advantages like 24 X 7 online login, low cost & tax benefits. National Pension System (NPS) is an easily accessible, low cost, tax efficient under (Section 80CCC) & (Section 80CCD), flexible and portable retirement savings account.
NPS is a National Pension Scheme regulated by PFRDA which offers a robust yet transparent platform which allows an individual to do retirement planning in a cost effective way. With Karvy eNPS you can apply online for NPS Account.
NPS, the individual contributes to his retirement account and also his employer can also contribute for the social security/welfare of the individual. NPS Account is beneficial to all users for their retirement savings.
Pension Fund Regulatory & Development Authority (PFRDA) is a regulator for National Pension System by Government of India for intermediaries in the system like Central Record Keeping Agency (CRA), Pension Funds, NPS Trustee Bank.
Karvy CRA is the Central Record Keeping Agency with Branch presence of more than 200 locations in India responsible for administration & customer service functions for NPS subscribers and their functions include registration and interface with all intermediaries and recording all transactions.
National Pension System Trust established by PFRDA as the settler for managing assets and funds under National Pension System (NPS) for all subscribers. Know More about NPS Trust at KARVY NPS.
Axis Bank work as Trustee bank for the KARVY NPS and they are the interface for Nodal office and Pension Fund Managers (PFMs) for receipt and transfer of funds.
Pension Fund Managers (PFMs) registered under NPS follows investment guidelines by PFRDA as Receipt of funds from Trustee Bank and investment as per subscribers’ preference. Also do the Updation of NAV and On withdrawal, transfer of accumulated wealth to the Trustee Bank, as per instructions from CRA
