Extending APY to all CRAs – PFRDA Circular dated 3.5.2024

PFRDA has decided to extending APY to all CRAs to enable subscriber can opt for choosing a CRA from the CRAs available with the PoP for servicing the APY subscribers

Extending APY to all CRAs for servicing the APY subscribers

Pension Fund Regulatory and Development Authority


Circular no: PFRDA/2024/10/SUP-CRA/04

May 3, 2024

All the APY stakeholders

Subject: Extending APY to all CRAs

The Government of India (GoI) had introduced APY, with effect from 1st June, 2015, pursuant to the announcement in the budget for 2015-16 for the purpose of building a Pensioned Society where the old age income of every Indian Citizen from unorganized sector is secured with regular stream of monthly income. APY is administered by the PFRDA through its scalable NPS technology architecture as per the policy guidelines of GoI.

Under the NPS architecture, Central Recordkeeping Agency (CRA) is responsible for the centralized recordkeeping, administration and customer service functions for all the subscribers under the NPS & APY and acts as operational interface for all intermediaries. Out of the three registered CRAs, currently only Protean eGov Technologies Ltd. offers APY related services. The other two registered CRAs are mentioned below:

  1. Computer Age Management Services Ltd. (CAMS)
  2. KFin Technologies Ltd.

In order to bring in competition and allowing a level playing field to the CRAs registered with PFRDA, it has been decided to allow the Point of Presence (PoP) registered with the Authority to choose a CRA of their choice including option of having multiple CRAs for servicing the APY subscribers. The charges by CRAs for APY related services are mentioned below.

Charge HeadProtean CRAKfintech CRACAMS CRA
PRA Opening (One Time)Rs.15/-Rs.15/-Rs.15/-
PRA Maintenance (Per Annum)Rs.20/-Rs.14.40/-Rs.16.25/-
Per Transaction  (Financial/Non-Financial)NILNILNIL

The said choice of CRA to the PoP shall be optional. Also, a APY subscriber can opt for choosing a CRA from the CRAs available with the PoP. Further, portability for choosing a CRA within the subscriber’s PoP is allowed for both existing as well as new APY subscribers. The contact details of CRAs are mentioned at Annexure for better coordination.

The PoPs and CRAs shall be responsible for all data including timely MIS sharing with the concerned stakeholders. To facilitate informed decision, PoPs and CRAs shall host information pertaining to the charges applicable and all other relevant information to APY subscribers on their respective websites.

Chief General Manager

View the Circular reg Extending APY to all CRAs

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