The Pension Fund Regulatory and Development Authority (PFRDA) on March 24, 2026, notified regarding the Implementation of Multiple NAVs framework.
PFRDA has revised the Investment Management Fee (IMF) structure for Pension Funds, introducing differentiated charges for Government and Non-Government subscribers effective April 01, 2026. Additionally, the charge structure for Point of Presence (PoPs) under NPS schemes, including NPS Vatsalya and NPS Lite, has been updated, with such charges to be adjusted through Net Asset Value (NAV).
To implement these changes, a multiple NAV framework will be introduced within schemes from April 01, 2026. During the transition, system upgrades by Central Recordkeeping Agencies and Pension Funds may temporarily restrict certain transactions on CRA platforms, though new subscriber registrations and contributions will continue. Stakeholders are advised to plan transactions accordingly, with normal services resuming from April 02, 2026.
