PFRDA Expands Pension Agent Pool to Boost NPS Distribution

• PFRDA has broadened the entities eligible to act as pension agents, allowing Points of Presence (PoPs) to engage more intermediaries for pension scheme distribution, including NPS.
• The regulator permitted PoPs to onboard additional categories of individuals and institutions under the "any other person" clause of the PFRDA (Point of Presence) Regulations, 2018.
• New categories include Primary Agricultural Credit Societies (PACS), MSME associations, professionals (CAs, CSs, CMAs, CFAs, CFPs), Business Correspondent Sakhis, Gramin Dak Sevaks, and digital platforms/fintech entities.
• PFRDA clarified that PoPs remain responsible for the actions of their appointed pension agents, including KYC, AML, and CFT compliance.
• The move aims to improve last-mile access to retirement solutions and enhance awareness and adoption of long-term retirement planning, especially among underserved segments.